By L Zu
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Extra info for Corporate Social Responsibility, Corporate Restructuring and Firm's Performance - Empirical Evidence from Chinese Enterprises
Stakeholder action also hinges on the ease with which a source of the concern can be identified. It is much easier to galvanize support when the action can be directed toward a single firm or group of firms in a localized area (a number of firms polluting the same river, as opposed to water pollution more generally). Industry characteristics. Although much of what drives stakeholder action is related to particular issues or specific firm-stakeholder relationships, there are many factors within the industry setting that are related to stakeholder action.
Work in this area therefore examines the relationships between individual firms and its stakeholders, in an attempt to discern if specific firm characteristics are related to stakeholder action. Issue conditions. Stakeholder action requires an issue to serve as a catalyst. Jones’ (1991) model of moral intensity outlines the characteristics of an issue that are most likely to incite action. Although this model is meant to explain individual action, the same dimensions are useful when exploring stakeholder action.
He concludes that the available definitions of CSR are consistently referring to five dimensions although they apply different phrases, the definitions are predominantly congruent, and making the lack of one universally accepted definition less problematic than it might seem at first glance. The CSR definitions are describing a phenomenon, but fail to present any guidance on how to manage the challenges within this phenomenon. 2 Corporate Social Responsibility 21 Therefore, the challenge for business is not so much to define CSR, as it is to understand how CSR is socially constructed in a specific context and how to take this into account when business strategies are developed.