Les parties prenantes - Cours Belles Histoires

Summary

This video addresses the sustainable development goals as one of the century's greatest challenges. It emphasizes the role of businesses in achieving these goals, moving beyond Milton Friedman's profit-maximization view to Edward Freeman's stakeholder theory. The video outlines steps for effective stakeholder management, including identification, interest assessment, opportunity and challenge analysis, responsibility evaluation, and strategic planning. It also discusses engagement approaches, from defensive to offensive, and how companies like SFR and CAMIF integrate stakeholders into governance and operations to create shared value, aligning with Porter's concept of shared value from the Harvard Business Review.

Takeaways

• 🌍 The sustainable development goals (SDGs) are considered one of the biggest challenges of our century, aiming to unite various stakeholders to address social and environmental crises.
• 🏭 Businesses are seen as key drivers in achieving SDGs, with the primary goal of eradicating poverty, and they must consider a variety of stakeholders beyond just shareholders.
• 📚 The debate on the role of corporations in society dates back to the 19th century, evolving from a paternalistic view to a more inclusive understanding of stakeholders' importance.
• 🏅 Milton Friedman's 1970 assertion that the sole responsibility of a corporation is to increase its profits, within legal and ethical boundaries, has been a significant perspective.
• 🤝 Edward Freeman introduced the stakeholder theory in 1984, challenging Friedman's view by arguing that businesses have a moral obligation to consider the interests of all stakeholders affected by their actions.
• 🔍 Identifying and classifying stakeholders is crucial for effective stakeholder management, which includes organizational, economic, and societal stakeholders.
• 📊 The process of managing stakeholders involves five key steps: identification, interest assessment, opportunity and threat analysis, responsibility evaluation, and strategic planning.
• 🗣️ Engaging in dialogue with stakeholders can be defensive or offensive, aiming to mitigate risks or to enhance the company's social responsibility and value creation.
• 💡 The concept of shared value, as proposed by Porter and Kramer, emphasizes the importance of considering both financial performance and social/environmental impact in business activities.
• 🔄 Stakeholder inclusion in governance and operations can strengthen a company's capacity to act and ensure alignment with its social mission, as exemplified by companies like Camif.

Q & A

What are the sustainable development goals mentioned in the video?

The video refers to the sustainable development goals as one of the greatest challenges of our century, aiming to save the world, as cited by the UN.

How have businesses been considered in achieving sustainable development goals?

Businesses are considered as key drivers in achieving sustainable development goals, with the eradication of poverty being one of the primary objectives.

What is the historical perspective on the role of businesses in society according to the video?

The role of businesses in society dates back to the 19th century, with the paternalistic approach of industrialists, and a consensus in the 1970s that businesses should consider stakeholders beyond shareholders.

What was Milton Friedman's view on the social responsibility of a corporation?

Milton Friedman, who won the Nobel Prize in Economics in 1976, argued in 1970 that the social responsibility of a corporation is to increase its profits, while adhering to the law and not violating international social standards.

How does Edward Freeman's stakeholder theory contrast with Milton Friedman's view?

Edward Freeman's stakeholder theory suggests that multiple groups can have moral claims on a corporation due to the potential impact of its decisions and activities, contrasting with Friedman's view that only shareholders have such claims.

What are the two main opposing views on the role of corporations in society presented in the video?

The video presents two views: Milton Friedman's instrumental view, which focuses on maximizing profits within legal and social standards, and Edward Freeman's ethical view, which emphasizes the need for corporations to address justice and include stakeholders in their decisions.

What are the five steps identified for effective stakeholder management according to the video?

The steps are: 1) identifying all stakeholder groups, 2) identifying interests of each group, 3) analyzing opportunities and challenges that stakeholders represent, 4) analyzing the company's responsibilities towards stakeholders, and 5) implementing a strategic plan to leverage opportunities and mitigate threats.

How are stakeholders classified in the context of the video?

Stakeholders are classified into three categories: organizational stakeholders who are part of the organization, economic stakeholders who enable the company's economic activity, and societal stakeholders such as the state, local authorities, and NGOs.

What is the difference between a defensive and offensive approach to stakeholder dialogue according to the video?

A defensive approach focuses on managing risks to the company's reputation or project success, while an offensive approach uses stakeholder engagement to enhance the company's commitment to social responsibility and create shared value.

What is the significance of the materiality matrix in corporate social responsibility strategy?

The materiality matrix is a key tool in defining priority issues based on their importance to internal and external stakeholders and their impact on the company's economic success.

How can stakeholders be integrated into a company's governance and operations?

Stakeholders can be integrated into governance through structures like advisory committees or by involving them in strategic planning and operations, as exemplified by companies like Camif, which created a 'cellule aux os' (skeleton cell) governance committee.