Articlegold2021

From Stakeholder Communication to Engagement for the Sustainable Development Goals (SDGs): A Case Study of LG Electronics

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Corporate Social Responsibility and Sustainability Corporate Social Responsibility Reporting Sustainability and Innovation in Business

Abstract

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.

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References

2010Strategic management a stakeholder approach 1997Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 1997Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts 2007Persuasion With Case Studies 1992Determinants of corporate social responsibility disclosure: An application of stakeholder theory 2003What Stakeholder Theory is Not

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