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Implementing Stakeholder Engagement : A Case Study from the Pharmaceutical Industry
Type
conference paper
Date Issued
2010-05-19
Abstract
This paper identifies some success factors of implementing stakeholder engagement based on empirical insights gained from a case study of a multinational pharmaceutical company. Pharmaceutical companies are faced with various - and oftentimes pressing and vocal - expectations as to their corporate social responsibility (CSR). Therefore, a need for the implementation of adequate stakeholder engagement activities has been established in this sector. We argue that stakeholder engagement can still be considered an emerging management function and that significant strategic advantages can be won through the implementation of deliberate, pro-active stakeholder engagement processes. Based on experiences gained within a multinational pharmaceutical company, this study propose that companies can do well in their stakeholder engagement efforts by employing proper stakeholder analyses, clearly defined standards and procedures, appropriate objectives and incentives, a credible commitment to relationship-building and continuous knowledge management.
Language
English
Keywords
Stakeholder Engagement
Corporate Social Responsibility
Case Study
HSG Classification
contribution to scientific community
Refereed
Yes
Book title
EURAM 2010: Back to the Future
Publisher
EURAM European Academy of Management
Publisher place
Brüssel
Start page
28
Event Title
10th Annual European Academy of Management Conference (EURAM) 2010
Event Location
Rom
Event Date
19.-22.05.2010
Subject(s)
Division(s)
Eprints ID
63228