Introduction
The relationship between CSR and Stakeholder Theory is gaining momentum in the current global business ethics climate at the level of Multinational corporations. This research proposal aims to study the complicated connection between CSR and Stakeholder Theory, particularly how MNCs strategically contend with ethical dilemmas to maintain stakeholder relationships within various global settings.
Literature Review
The current literature has focused mainly on the ethical aspects of business activities covering CSR and Stakeholder Theory. Okafor et al. (2021) defined CSR as the responsibility of a corporation to bear economic, legal, moral, and philanthropic obligations. At the same time, Freeman’s Stakeholder Theory, according to Freeman et al. (2021), highlighted that the interests of all the stakeholders needed to be considered in making corporate decisions.
Though the literature suggests symmetry between CSR and Stakeholder Theory, the context of MNCs seems intricate. Reinecke and Donaghey ( 2021) and Vigneau (2020) focus on MNCs’ difficulties in matching global CSR programs with the needs of local stakeholders.
Research Question
“What strategic integration of Corporate Social Responsibility and the Stakeholder Theory can Multinational Corporations use to deftly handle ethical challenges, and develop mutually beneficial stakeholder relationships in multi-regional cases?”
Significance and Justification
This research question is the most important because of several reasons. Initially, as MNCs grow into the international realm, the ethical ramifications surrounding their activities become more complex. Knowledge of how these companies incorporate CSR and Stakeholder theory is vital in ensuring responsible and sustainable business practices.
Second, this study seeks to fill a leading literature lacuna by delving into the interaction between CSR and Stakeholder Theory in MNCs. A lot of focus has been devoted to studying these concepts in their capacity, but no study has been carried out to undertake a comprehensive analysis of how the MNCs strategically handle both.
Lastly, the results of this study may offer the much-needed pragmatic grounding about MNCs, policymakers, and scholars alike. The study intends to contribute to the establishment of ethical frameworks through thoroughly identifying strategies for better CSR and Stakeholder Theory integration.
Methodology
A mixed-methods approach will be utilized to answer the research question effectively. Qualitative data will be gained from an in-depth interview of executives representing diverse MNCs, providing deep information on approaches used to embed CSR and Stakeholder Theory. At the same time, qualitative data will be obtained through questionnaires administered to various stakeholders, such as employees, customers, and local communities, to determine the perceived efficacy of MNCs’ ethical practices.
Additionally, archival data analysis will be implemented to supplement the qualitative and quantitative outcomes of the study. The research further analyzes historical documents, corporate statements, and public information on the change process and how stakeholders engage in MNCs. This archive viewpoint has a longitudinal perspective, ensuring drawing trends, patterns, and variants from ethical standards over time. The use of triangulated methodologies in validating the qualitative research through interviews, quantitative surveys, and archival data analysis will serve the research’s validity in understanding the nexus between CSR and Stakeholder Theory from the perspective of how foreign MNCs concern themselves with such complex interaction in diverse global situations.
Conclusion
In conclusion, this research proposal contributes to the conceptual framework of how these multinational corporations face challenges in navigating the CSR and Stakeholder Theory world. This analysis aims to benefit MNCs, policymakers, and researchers in their practical advice. The predicted effects are the foundation for scholars to construct ethical frameworks from which MNCs may make sensible decisions. Changes in the current corporate environment are taking place quickly; thus, the concept of the relationship between CSR and Stakeholder theory needs to be critically analyzed. The goal of the research is not only to fill the gaps in the literature but also to provide practitioners with a range of feasible ideas to foster responsible behaviour and reciprocally beneficial relationships with relevant stakeholders within the context of evolving changes in business realities across the globe.
References List
Freeman, R.E., Dmytriyev, S.D. and Phillips, R.A., 2021. Stakeholder theory and the resource-based view of the firm. Journal of Management, 47(7), pp.1757-1770.
Okafor, A., Adeleye, B.N. and Adusei, M., 2021. Corporate social responsibility and financial performance: Evidence from US tech firms. Journal of Cleaner Production, 292, p.126078.
Reinecke, J. and Donaghey, J., 2021. Political CSR at the coalface–The roles and contradictions of multinational corporations in developing workplace dialogue. Journal of Management Studies, 58(2), pp.457-486.
Vigneau, L., 2020. A micro-level perspective on the implementation of corporate social responsibility practices in multinational corporations. Journal of International Management, 26(4), p.100804.
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