Month: June 2022

Introduction

            Pressure from stakeholders occurs in diverse ways and on critical issues of governance, sustainable development protocols of environmental concerns, and in the reporting and management concerns. For instance, governance oversight agencies often seek responsive management and corporate leadership to eliminate sweatshop practices. The sourcing of materials and components for the production of diverse garments and dyes ought to respect established environmental protection rules. The UN Global Compact and sustainability indices are a vital international benchmark mechanism for rating and ranking organizations on their impact on society through their strategic initiatives on CSR. The need to comply with stakeholder demands is paramount to the success of the businesses because the industry is highly profitable, and varied stakeholders have diverse conflicts that require effective deliberation and apportionment of responsibilities on ethical concerns. Pressure from stakeholders thus implies the corporations have to constantly invest in suitable promotion, effective public relations, and suitable brand management through direct initiatives of CSR.