The Business of Water

Topics: Corporation, Corporate social responsibility, Social responsibility Pages: 4 (914 words) Published: August 29, 2011
* Who are the main Stakeholders of beverage companies such as Coca cola and nestle in this case? How would you prioritize their stake and how legitimate are the different stakes?

The Civil society is the main stakeholders of these companies it consist of pressure groups, local communities, non-government organizations. The stake of the society can be prioritize by

Relationship-building: Having good relationships – trust, mutual respect, understanding – are intangibles that develop and evolve over time, based on individual and collective experiences and interactions. For this reason, we have to engage with stakeholders at a much as early as possible.

Through proactive involvement of company with the stakeholders.

Sharing Information: Communicate information to the stakeholders in the decision making process in the way that are meaningful and accessible, continue this communication.

Stakeholder Consultation: Plan out each consultation process with the stakeholders

Negotiation and Partnerships: For controversial and complex issues enter into good faith negotiation

Grievance Management: Establish accessible and responsive means where concerns and problems can be addressed

Stakeholder Involvement in Project Monitoring

Reporting: Informing to the stakeholders on environmental issues.

The other stakeholders in the companies are very legitimate and the company holds obligation to address them, stakeholders like shareholders are the owners of the form and they consequently are the dominant group, suppliers, competitors etc.

* Think of the role of Nestle in this case in terms of Carroll’s pyramid of CSR. Which responsibilities does it live up to and where would you see space for improvement?

Under CSR pyramid, Nestle comes in the Ethical responsibility that is the third part of the pyramid .These responsibilities oblige corporation to do what is right, just, fair even when they are compiled to do so by the...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about Business
  • Essay about Water
  • Essay on The business of water
  • Business Ethics Essay
  • Essay about Business Ethics
  • Business Essay
  • Business Essay
  • the business environment Essay

Become a StudyMode Member

Sign Up - It's Free