This page has only limited features, please log in for full access.
While multi-stakeholder engagement is critical to achieving the Sustainable Development Goals (SDGs), there is less understanding in the literature about how the private sector can enhance such engagement at an institutional level. In this study, we examine the case of LG Electronics (LGE), one of South Korea’s most sustainable firms. This case study highlights the key strategies that LGE employed in engaging stakeholders for the SDGs, with a focus on stakeholder scope and engagement over three phases: (1) stakeholder communication; (2) stakeholder involvement; and (3) stakeholder engagement. In addition, this paper emphasizes governance mechanisms that facilitated more effective stakeholder engagement, including the company’s Corporate Sustainability Management (CSM) strategies, CSR Committee and Sustainability Management Council. These findings also highlight the usefulness of the common language provided by the SDGs in stakeholder engagement and provide practical implications for the private sector in contributing to the shared global agenda.
Hannah Jun; Minseok Kim. From Stakeholder Communication to Engagement for the Sustainable Development Goals (SDGs): A Case Study of LG Electronics. Sustainability 2021, 13, 8624 .
AMA StyleHannah Jun, Minseok Kim. From Stakeholder Communication to Engagement for the Sustainable Development Goals (SDGs): A Case Study of LG Electronics. Sustainability. 2021; 13 (15):8624.
Chicago/Turabian StyleHannah Jun; Minseok Kim. 2021. "From Stakeholder Communication to Engagement for the Sustainable Development Goals (SDGs): A Case Study of LG Electronics." Sustainability 13, no. 15: 8624.
These days, companies are moving from Corporate Social Responsibility (CSR) activities for short-term profit generation to the ones for achieving economic and social long-term goals. This phenomenon results from the idea that CSR is not a mere cost but can be used as a source of opportunity, innovation and competitive advantage. Deemed as a great business strategy, strategic CSR activities are being emphasized by various stakeholders in the global market. The purpose of this study is to present specific implications and to empirically research the relations among relational benefits, commitment, and authenticity. It identifies the main factors of relationship management in expanding the stakeholder pool and forming relationships for strategic CSR activities. To this end, we conducted a questionnaire survey of 113 CSR practitioners in Korea and analyzed how social, psychological, and economic benefits affect the satisfaction and durability of strategic CSR activities through relational commitment and authenticity. Consequently, social, psychological, and economic benefits have an impact on relationships and, by extension, have a positive effect on relational satisfaction and durability. However, economic benefits affect relational authenticity, but social and psychological benefits do not. As a result, relational benefits cannot affect satisfaction through relationships. Therefore, relational benefits and commitment are more important variables for the satisfaction and durability of strategic CSR activities.
Minseok Kim; Boyoung Kim; Sungho Oh. Relational Benefit on Satisfaction and Durability in Strategic Corporate Social Responsibility. Sustainability 2018, 10, 1104 .
AMA StyleMinseok Kim, Boyoung Kim, Sungho Oh. Relational Benefit on Satisfaction and Durability in Strategic Corporate Social Responsibility. Sustainability. 2018; 10 (4):1104.
Chicago/Turabian StyleMinseok Kim; Boyoung Kim; Sungho Oh. 2018. "Relational Benefit on Satisfaction and Durability in Strategic Corporate Social Responsibility." Sustainability 10, no. 4: 1104.