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Achieving Social License To Operate Using Stakeholder Theory
Wilburn, Kathleen M. Wilburn, Ralph
Wilburn, Kathleen M.
Wilburn, Ralph
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Abstract
The concept of Corporate Social Responsibility (CSR) is gaining support in the global business environment. Some companies are adopting a model, the Social License to Operate (SLO), as part of their CSR strategy. This paper provides background on the concepts of Corporate Social Responsibility and Social License to Operate with examples supporting the business case for them. It proposes a process based on stakeholder theory for identifying and classifying stakeholders that divides stakeholders into two groups: vested and non-vested. Vested stakeholder groups have a vote in the awarding of a social license to operate, while non-vested stakeholder groups have only a voice. By using a process based on alignment of the norms and values of the company, and the stakeholder groups, social licenses to operate can be negotiated that can allow a company to succeed in different countries and cultures.
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2011
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With permission of the license/copyright holder