Stakeholder management and CSR is always connected. It also impacts groups like governmental bodies, which in turn impacts the country and the citizens. If the creation of some chemical by-products would be of overall benefit to many of the stakeholders involved, then it might be permissible on one view while prohibited on the other. Benefits of integrating all CSR aspects into a sustainability management system are often claimed. Stakeholder theory views the corporation as part of a larger social body and not a separate entity. It impacts the lives of individuals like customers and especially employees, who are dependent on the firm.. Specifically, this school of thought argues a business affects the society, and it should consider its impacts when making decisions. Burger King’s corporate social responsibility (CSR) strategy recognizes the importance of its stakeholders.This recognition is manifested in the company’s programs and strategies that directly address the interests and demands of its most important stakeholder groups. The inclusion of stakeholders is fundamental to the socioeconomic model of corporate social responsibility or the stakeholder theory of corporate governance. However, Walzel et al. This case study explores how a company reacts to and appropriates stakeholder theory … ... Corporate social responsibility is about contributing to the health and welfare of society and operating transparently and ethically. Although the use of Stakeholder Theory and CSR is widely accepted in management literature (e.g., Reference [13, 14]), both are still limited in the sports industry. Triple Bottom Line 5. Stakeholder theory argues that corporations should treat all their constituencies fairly and that doing so can strengthen companies’ reputations, customer relations, and performance in the marketplace. Stakeholder theory can advance CSR practice. Ed Freeman and his stakeholder theory Origins of CSR. It considers the role of the stakeholder concept in helping managers make decisions allocating spending on discretionary social responsibility. Two cultural reasons can answer the question of how CSR practices bloomed at the end of the 19th century in the United States: The stakeholder theory of CSR Since the 1990s’ the stakeholder theory has become famous as a direct alternative and challenge to the shareholder value theory (Freeman 1984). It argues that the number of stakeholder pressure groups has developed widely since the 1960s’ and the stakeholder forces impact on business must not be underestimated. Stakeholder theory involves critical stakeholders such as employees, suppliers, customers, media, local communities, NGOs, could be the source of new ideas and opportunities [2]. This article’s goal is to examine first the different views to the CSR In this way, the Stakeholder theory might be much more permissive than the CSR view. Why, may you ask, did it so tastefully choose to appear in the land of Uncle Sam? At first, CSR developed in the United States, at least from a conceptual perspective. Edward Freeman, the original proposer of the stakeholder theory, recognised it as an important element of Corporate Social Responsibility (CSR), a concept which recognises the responsibilities of corporations in the world today, whether they be economic, legal, ethical or even philanthropic. The firm has responsibilities to people and groups other than its owners. 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