Role of Marketing in understanding stakeholder perspective to corporate responsibility
Dr Kavita Sharma emphasized the role and potential contribution of marketing discipline in corporate social responsibility. She discussed the CSR initiative as the actions undertaken to display conformity to both organizational and stakeholders norms. The Managerial process needed to monitor, meet and even exceed, stakeholder norms. The CSR initiatives can generate increased stake holder's support.
Dr Kavita Sharma shared her views on the abovementioned issue that, according to upcoming budget, the corporate need to spend 2% on corporate social responsibility and industries are debating on the same. Corporate social responsibility should be better described as corporate responsibility as it is not just related to society only. She told that traditional marketing theories failed in the emerging markets because of some permanent issues in the emerging markets, thats why we require some new theories.
Dr. Kavita Sharma further elaborated that intellectual core of marketing shifts from conceptual framework to strategic issues. Unit of analysis shifts from number of units sold to number of people served. In evolved organizations, functional boundaries have vanished and marketing is not just a management function. Marketing is now used as culture, strategy and tactics and marketing evolves from customer orientation to relationship orientation. Marketing builds the relationship between markets and society. None of the stakeholders have an interest prior than interest of other stakeholders.
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