Role of stake holders Essay Example | Topics and Well Written Essays - 1750 words

Role of stake holders - Essay Example The first stage was introduced by the philanthropy, then social activism that focused on the protection of the environment. Then again, enactments with respect to the rights of consumers were created that resultantly compelled the change of the corporate practices and humored them to engage in conducts that would make them more agreeable in social, legal and client fulfillment setups(Williams, Siegel and Wright, 2006). The phase that followed in the development of CSR, in the corporate world, rested with the retention of social role which was to be aligned with the profit-taking practices of organizations’ owners. It is important to note that over the years organizational stakeholders, both internal and external, have played a critical role when it comes to the development as well as implementation of CSR. Stakeholders may have a negative or positive influence in CSR. Therefore, in order to understand the role of stakeholders within CSR this paper will look at the influence that both secondary and primary stakeholders of Barclays’ Bank in the U.K have in relation to the bank’s CSR approach. As a way of undertaking stakeholder role, the paper will look at the stakeholder’s theory of CSR with an aim of understanding the role that stakeholders are supposed to play in the bank’s CSR strategy development and implementation. Finally, the paper will look at the role that different stakeholders of the bank play in its CSR. Barclay is a multinational bank that is British-owned. It provides financial and banking services to its clients. The organization’s headquarter is in London. It is an all-inclusive bank with operations in retail, investment and wholesale banking. The bank is also involved in wealth administration, home loan provision and offers Master card services. It has operations in excess of 50 nations and regions and has customers approximated at about 48 million customers.