Stakeholders and Corporate Social Responsibility: Are They Interlinked and Contributing to the Sustainable Development Goals.
Freeman chose the word Stakeholder on the basis of the traditional term which takes only a look at the economic point of view, where the stakeholders are defined as “any group of individual who is affected by or can affect the achievement of organization’s objectives” (Freeman 1984). The paper provides detailed understanding of stakeholders, analysis of various models on stakeholders, stakeholders of CSR and its analysis, linkages between different stakeholders and its contribution to the SDG’s. The methodology is multiple-definitional and case study research, and the research aim is attained by classifying it into various objectives and using interdisciplinary approach for each objective. The methodology adopts documenting of comprehensive theoretical analysis on the basis of available literature (Thakur and Datta, 2020). Further, the expenditure on CSR has been increasing over the years in India a Companies Act 2013 has made India the first country to make CSR spending mandatory through a law (MCA 2014). The higher fund flow would lead to increase in the social activities and social development. More companies would spend which could address reduction of poverty and unemployment. This in a way would strengthen the Sustainable Developmental Goals (SDG’s) which aims to reduce poverty in all forms and create new opportunities for partnerships.