Leveraging Corporate Responsibility: The Stakeholder Route to Maximizing Business and Social Value Illustrated Edition

by C. B. Bhattacharya (Author), Sankar Sen (Author), Daniel Korschun (Author)

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ISBN-13: 978-1107401525

ISBN-10: 1107401526

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The corporate social and environmental responsibility movement, known more generally as corporate responsibility (CR), shows little sign of waning. Almost all large corporations now run some form of corporate responsibility program. Despite this widespread belief that CR can simultaneously improve societal welfare and corporate performance, most companies are largely in the dark when it comes to understanding how their stakeholders think and feel about these programs. This book argues that all companies must understand how and why stakeholders react to such information about companies and their actions. It examines the two most important stakeholder groups to companies – consumers and employees – to comprehend why, when and how they react to CR. Armed with this insight, it shows how companies can maximize the value of their CR initiatives by fostering strong stakeholder relationships to develop, implement and evaluate compelling social responsibility programs that generate value for both the company and its stakeholders.

Review

"I enjoyed reading Leveraging Corporate Responsibility and picked up a few ideas for which I am grateful. Thanks to the authors for sharing. The 10 years of work paid off and hopefully many will read it, as critical mass is still needed. This book helps refine our thinking about corporate responsibility." - Paul Polman, CEO, Unilever

"Leveraging Corporate Responsibility should be required reading in the global C-Suite. It identifies both the psychological levers driving stakeholder behaviour and the business responses that result in loyalty or commitment. The aim is to serve both company and society, maximizing value across the triple bottom line: people, planet and profit." - John Elkington, co-founder of SustainAbility and Volans Ventures; co-author of The Power of Unreasonable People; and originator of the triple bottom line

"Leveraging Corporate Responsibility goes beyond the conventional treatment of corporate responsibility to provide managers, students and scholars with a detailed, empirical analysis of the subject. Based on more than a decade of research, the book explores the complexity, uncertainty and variety of stakeholder responses to CR initiatives. To extract maximum CR value, the authors show why it's critical to understand who really cares about such efforts, as well as when and why they care. Focusing on customers and employees, the book reveals how to put insights into action to benefit the company and society. Anyone who cares about creating success and making a broader impact will find in these pages the tools to do both." - Dipak C. Jain, Dean, INSEAD

"This important book offers crucial new insight into a topic that, fortunately, has gained enormous traction in the corporate world. The rise of corporate responsibility - and the attendant notion that businesses can do well while also doing good - is certainly a promising trend. But its widespread acceptance inevitably has brought new challenges, as business leaders have been left to figure out how the ideas underlying CR can best be put into real-world practice. Leveraging Corporate Responsibility: The Stakeholder Route to Maximizing Business and Social Value offers a much-needed road map that will not only help executives succeed in their CR efforts, but will pay dividends for the global community as well." - Thomas S. Robertson, Dean, The Wharton School, University of Pennsylvania

Book Description

This book shows how companies can maximize the value of their CR initiatives by fostering strong stakeholder relationships.

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Product details

Publisher ‏ : ‎ Cambridge University Press; Illustrated edition (November 14, 2011)
Language ‏ : ‎ English
Paperback ‏ : ‎ 342 pages
ISBN-10 ‏ : ‎ 1107401526
ISBN-13 ‏ : ‎ 978-1107401525
Item Weight ‏ : ‎ 1.01 pounds
Dimensions ‏ : ‎ 5.99 x 0.78 x 9.02 inches

Best Sellers Rank: #1,915,508 in Books (See Top 100 in Books)
- #537 in Business Ethics (Books)

Customer Reviews:
7 ratings

About the authors

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C. B. Bhattacharya
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CB Bhattacharya is the H.J. Zoffer Chair in Sustainability and Ethics at the Katz Graduate School of Business, University of Pittsburgh. He is a world renowned expert in business strategy innovation aimed at increasing both business and social value. His research and teaching focuses specifically on how companies can use under-leveraged intangible assets such as corporate identity, reputation, corporate social responsibility and sustainability to strengthen stakeholder relationships and drive firm market value.
CB is part of a select group of faculty that has been named twice to Business Week’s Outstanding Faculty list. He has been recognized by both Thomson Reuters and Google Scholar as one of the top cited scholars in his field. He has won several best paper awards, teaching awards and research prizes. He was also a finalist for the Aspen Institute’s Faculty Pioneer Award in 2007. In addition, he received the Emory Williams Distinguished Teaching Award in 1995, the highest teaching award at Emory University.
He received his PhD in Marketing from the Wharton School of the University of Pennsylvania in 1993, his MBA from the Indian Institute of Management in 1984 and his Bachelors (with Honors in Economics) from St. Stephens College, Delhi in 1982. Before joining ESMT in 2009, he was the Everett W. Lord Distinguished Scholar and Professor of Marketing at the School of Management at Boston University. Before joining Boston University, he was on the faculty at the Goizueta Business School, Emory University. Prior to his PhD, he worked for three years as a Product Manager in Reckitt Benckiser plc.
Prof. Bhattacharya has conducted research and consulted for many organizations such as Allianz, AT&T, Bosch, Eli Lilly, E.ON, General Mills, Green Mountain Coffee, High Museum of Art, Hitachi Corporation, Procter & Gamble Company, Prudential Bank, Timberland and Unilever. As an expert in corporate responsibility and sustainability, he is often interviewed and quoted in publications such as Business Week, BBC, Forbes, Financial Times, Newsweek, The New York Times and The Economist and on TV stations such as, CBS, NBC, PBS and Times Now. He frequently delivers keynote speeches or brings in his insights as a panelist at company, industry, and academic conferences and conventions.
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Daniel Korschun
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Daniel Korschun is an Associate Professor of Marketing at Drexel University's LeBow College of Business and a fellow of both the Center for Corporate Reputation Management and the Center for Corporate Governance at LeBow.
Dr. Korschun's work appears in the Journal of Marketing, MIT-Sloan Management Review, Academy of Management Review, Journal of the Academy of Marketing Science, Journal of Public Policy & Marketing, Journal of Business Research, and the Journal of Business Ethics.
He is co-author of two books: We Are Market Basket (AMACOM) and Leveraging Corporate Responsibility: The Stakeholder Route to Business and Social Value (Cambridge University Press).
He works with companies to develop innovative CSR practices that generate value for both the company and society.
Twitter: @danielkorschun
Linkedin: https://www.linkedin.com/in/danielkorschun
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Top reviews from the United States

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The role of psychology in corporate responsibility success

Reviewed in the United States on January 23, 2012

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Much of the debate about corporate responsibility has to do with whether and how the movement can simultaneously create sustained value for businesses, society, and the environment. This book puts forth the idea that answering these questions requires a deep understanding of the psychological processes through which key stakeholders (especially customers and employees) derive personal value from corporate responsibility inputs. The authors are well qualified to make the case, having conducted numerous studies in this domain.

While most books talk about the importance of engaging stakeholders in corporate responsibility, few provide reliable, specific, or practical advice on how to do so. The main reason, I suspect, is that these books tend to lack a theoretical model from which to reason about stakeholder psychology. In contrast, Bhattacharya, Korschun, and Sen introduce a comprehensive model early in the book and proceed to unpack its insights and provide helpful, illustrative examples.

The main thrust of the authors' model is that corporate responsibility works when stakeholders believe that it not only provides personal benefits but also provides benefits for the company. This belief in the win-win scenario encourages perceptions of unity or overlap between the stakeholder's identity and the company's identity. In turn, perceptions of unity can fuel long term, company-favoring behaviors such as loyalty, positive word of mouth, purchasing, and volunteering.

Researchers will appreciate the book's theoretical grounding while practitioners and students will appreciate the book's clear exposition and rich discussion of the implications for designing and managing corporate responsibility initiatives. The book even provides survey questions that researchers and practitioners can use to study stakeholder psychology for themselves.

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MPailthorp

Deep AND practical read on CSR

Reviewed in the United States on March 18, 2013

I've been working in Corporate Social Responsibility for some years now, through significant evolution in the field and lots of remaining work to do to truly clarify for the many stakeholders involved both how to view and value corporate investments around social responsibility. This is one of the most comprehensive and helpful books I've picked up for dealing with some of the toughest questions that plague the field, while also providing some great perspective on how to navigate through them. The book both pulls together much of the progress made in the past fifteen years as well as pushes the frontier. This is a strong and useful reference for anyone working in or around sustainability, citizenship or CSR or studying this field. As other reviewers have noted, the combination of theory and practical advice is an unusual one. I look forward to the sequel!

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vanessav

Practical Analysis of CSR

Reviewed in the United States on January 24, 2012

Leveraging Corporate Responsibility

As a graduate student in communications this book provides a clear and concise analysis to understanding corporate responsibility. Where other books on the topic fall short, Leveraging Corporate Responsibility fills in the gaps with both a practical and theoretical framework. It highlights key ideas that all communication practitioners need to keep in mind, communications must evolve in the same way that the field is evolving. It's an essential read that delineates the importance of strategic CSR so that companies can leverage their good will to benefit themselves and their stakeholders.

One person found this helpful

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Thomas Osburg

Outstanding Book

Reviewed in the United States on March 22, 2014

This book is really a milestone in understanding how CSR is perceived at customer level. A lot of companies are still in the phase of focusing what to do but not thinking about the perspective of the stakeholders (here: mainly customers and employees). CB's book gives a clear and easy to understand framework of how customers perceive CSR, what channels are relevant to reach them and how they react to it. A must-read for all CSR-practitioners and also academia. One of the best books I have read recently.

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Amazon Customer

A Really Helpful Book

Reviewed in the United States on March 29, 2012

Not only am I very impressed by the practicality and real value of the models, concepts, and paradigms in this book, but I am mentoring a group that is working on helping a major bank move toward strategic CSR. The team has found this book to be their most valuable resource for generating real, actionable steps to get the client to move toward CSR that will have a positive impact on their shareholder value.It is clear that the authors have been able to combine academic rigour with practical application. This combination in the CSR space is very rare.

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Leveraging Corporate Responsibility: The Stakeholder Route to Maximizing Business and Social Value Illustrated Edition