| This study explores how social auditing can be used as a methodology for measuring corporate social performance (i.e., corporate citizenship) from a stakeholder perspective. The expert-panel methodology, the Delphi Method, was used to determine what criteria stakeholders apply to corporations in order to deem them socially responsible, and how these criteria can be measured during a social audit. Sixty-one (61) expert panelists participated in the study, representing five stakeholder groups: community members; customers/consumers; employees; investors; and suppliers. Twenty (20) Principles of Corporate Citizenship were identified as the criteria for socially responsible behavior. The expert respondents throughout this study defined good corporate citizenship as balancing stakeholder needs and ensuring a reciprocal relationship between the corporation and its stakeholders. The guiding principles that respondents pointed to for achieving balance and reciprocity were ethical in nature, the highest rated principle being Engages in fair and honest business practices in its relationships with stakeholders, followed closely by Sets high standards of behavior for all employees, along with Exercises oversight at the executive and board levels. This study has identified the criteria stakeholders apply to corporations in order to deem them socially responsible, and has identified metrics and indicators that can be used to measure the principles of corporate citizenship, thus paving the way for testing in a social audit. |
