Cooperative, community-spirited and commercial: social sustainability at Bendigo Bank

Stubbs, Wendy, and Cocklin, Chris (2007) Cooperative, community-spirited and commercial: social sustainability at Bendigo Bank. Corporate Social Responsibility and Environmental Management, 14 (5). pp. 251-262.

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Abstract

Using a case study approach, this article examines how an Australian bank supports and invests in social sustainability using a community development approach. Bendigo Bank's community engagement model (CEM) is consistent with a stakeholder perspective of the firm. The CEM is a hybrid model drawing on commercial principles, such as the for-profit shareholder-ownership structure, and community development values, such as trust, loyalty, integrity, volunteerism, cooperation and community spirit. The CEM contributes to community development by retaining local capital through a revenue-share arrangement, which is used to invest in further community enhancement initiatives. The success of Bendigo Bank's CEM indicates that the 'collaborative commerce' model could be used as a design guideline for other organizations seeking to improve their social sustainability.

Item ID: 27693
Item Type: Article (Research - C1)
ISSN: 1535-3966
Keywords: collaborative commerce; community bank; community development; community engagement model; social sustainability; stakeholder engagement; stakeholder network
Funders: Monash University
Date Deposited: 19 Jun 2013 01:44
FoR Codes: 13 EDUCATION > 1302 Curriculum and Pedagogy > 130203 Economics, Business and Management Curriculum and Pedagogy @ 50%
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1503 Business and Management > 150310 Organisation and Management Theory @ 50%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9104 Management and Productivity > 910406 Technological and Organisational Innovation @ 40%
96 ENVIRONMENT > 9606 Environmental and Natural Resource Evaluation > 960604 Environmental Management Systems @ 30%
97 EXPANDING KNOWLEDGE > 970115 Expanding Knowledge in Commerce, Management, Tourism and Services @ 30%
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