Korporativna društvena odgovornost u kontekstu teorije stejkholdera
Corporate Social Responsibility In The Context Of The Stakeholder Theory

Summary/Abstract: This paper deals with the corporate social responsibility (CSR) in the context of the modern stakeholder theory. The aim of the paper is to point out the main characteristic of this theory, which is that the corporation and all of its stakeholders make up the stakeholder system. In this system, there are no "big" or "small" stakeholders, but they are all relevant, since each can bring either great benefits or great harm to the corporation. In addition, the stakeholder system does not contain bivalent relations alone, but multivalent relations as well. Multivalent relations have the effect of synergy, which makes the process of managing stakeholders more complex. Society, through government and the local and wider community, represents only one of the corporate stakeholders. Towards the society, as well as towards all other stakeholders, the corporation has: economic, legal, ethical and philanthropic responsibility. In modern stakeholder theory, these dimensions are integrated into the global business strategy of the corporation, and in practice they appear as social initiatives (SI). Through SIs, the corporation performs its legal (legitimate) business and at the same integrates ethics and philanthropy into it, which bring it competitive advantage. This way, the society becomes an equal stakeholder with the suppliers, investors, employees and customers.

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