Community Stakeholders Participation in Extractive Industry Corporate Social Responsibility

Abstract

The extractive industry is the major earner of foreign exchange for most developing countries, and the activities of these industries either mineral or oil extraction strongly affect the community in which they operate. Failure to integrate the community stakeholders in the organization's strategic vision has resulted in the loss of life, properties, and in most cases complete shutdown of operation as evidenced in the Niger Delta business case in Nigeria. Identifying the actual community stakeholders and involving them in the strategic vision of the organization through Corporate Social Responsibility (CSR) are some of the challenges facing organizations in the extractive industry. Therefore, the core objective of this paper is to examine the various models and theories through which organizations can identify the actual community stakeholders and get them to participate actively in the organization's strategic vision.