Examining Stakeholder Engagement Processes and The Shared Value Creation of Sustainability Partnership Program at Two Fairmont Hotels
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Initially perceived as the individual philanthropic activities assumed by a businessperson or merely a useful marketing tool, CSR has undoubtedly become one of the primary focus areas of many business entities worldwide (Lee, Ham, & Koh, 2019). Evidently, businesses way of thinking has changed considerably since (Friedman, 1962, 1970) postulated that businesses only responsibility was to maximize their owners’ and shareholders’ wealth. Specifically, businesses have begun to recognize the importance of identifying stakeholder expectations and responding to such expectations (Font, Guix & Bonilla-Priego, 2016). Accordingly, in the tourism industry there have been growing pressures from external stakeholders to behave in a more sustainable way (Font et al., 2012). Comparatively, there has been growing interest in scholarship as well, as over 70% of all articles on the subject of CSR in tourism and hospitality have been published within the last five years (Font & Lynes, 2018). Simply, CSR has become more a matter of how than why (Smith, 2003). This basic qualitative study explores the processes by which the Sustainability Partnership Program creates value between Fairmont and the communities surrounding Chateau Lake Louise and Banff Springs. Particularly, external stakeholders (ie. government, NGOs, and suppliers) are the focus of this dissertation. This study found that Fairmont has been able to foster a shared sense of responsibility amongst employees and external stakeholders for planning and implementing impactful initiatives, leading to improved levels of efficiency in not only identifying community needs but also responding to them.
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Joseph Skeete (2019). Examining Stakeholder Engagement Processes and The Shared Value Creation of Sustainability Partnership Program at Two Fairmont Hotels. UWSpace. http://hdl.handle.net/10012/14617