1.1 Research Background
Most researchers in the modern industry believe that the concept of modern corporate social responsibility emerged in the last period of the second industrial revolution that is in the early 20th century. The earliest concept of corporate social responsibility is mentioned by the British scholar Shelton, who published in the book "Philosophy of Management". In the book he said, as a business manager, not only must complete his own pursuit of wealth, meeting external needs, but also need to fulfill relevant social responsibilities which will be much higher than the profits of the company itself . The publication of this book immediately aroused the thinking of entrepreneurs. And they gave a deeper understanding of corporate social responsibility and social image. At that time, entrepreneurs were not limited to improving enterprises, producing efficiency, they also put undertaking social responsibility and enhancing corporate image as the necessary factor of company developing.
In the 1970s, modern economists such as Andrews proposed that the mission of a company is not only to create economic value, but also to build a new standard for corporate evaluation with a sense of social responsibility and a good social image. Money is the only standard for judging a company . The proposal of this theory has enriched the relevant theories of corporate social responsibility.
In 2001, China joined the WTO and opened up to the outside world. China's economic has increased rapidly. In the process of economic globalization, not only the economic development have been mutually integrated with and the international level, and the relevant corporate social responsibility theory has gradually been adopted by Chinese entrepreneurs. The State Council has also established the theory of corporate social responsibility in the form of law. In line with this trend of economic and social development, the China Securities Regulatory Commission first put forward requirements for corporate social responsibility. In the fall of 2006, the China Securities Regulatory Commission made corporate responsibility instructions to various listed companies at the Shenzhen Stock Exchange, and encouraged enterprises to assume social responsibilities.
1.2 Research objective
According to economic theory, the power grid supply company has a natural monopoly. In short, the repeated construction of multiple independent power transmission channels will inevitably result in a decrease in the benefits of the main power transmission channels (different power supply companies). And this can’t make up for the investment in power grid construction. The power grid company (formerly known as the power company), as the only legal electronic power sales company in China, was dubbed the "electric tiger" because of its historical reasons such as monopoly nature and random power pull.
The "Electric Power Supply System Reform Plan" (Document No. 5) was issued by the State Council on March 1, 2002. This plan was intended to introduce the competition mechanism into the electricity market. The vertical integration monopoly model of the power industry has been broken, and the power plant is implemented separately from the power grid. In the past, the power assets held by power companies were divided into two categories: power generation and power grid. This marked the official opening of the power system reform. On December 29, 2002, China Southern Power Grid Co., Ltd. came into being and was officially listed and started to operate. It is responsible for grid investment and construction in five provinces (autonomous regions) of Guangdong, Guangxi Yunnan, Guizhou and Hainan Province.
Due to the particularity of its natural monopoly, power supply companies often leave a negative impression on the public. In the past, power supply companies that have appeared in the past have also made people respect this "electric tiger", power-cutting behaviors of which makes power companies The image of public opinion is very unsatisfactory. In the three years since its establishment, China Southern Power Grid Corporation proposed in 2005 to “take the initiative to assume social responsibility and do its best to provide power supply”, hoping to build a “responsibility south network” and establish a good image. This paper hopes to use China Southern Power Grid Co., Ltd. as the main body, combined with China's current and future policies, to analyze its current environment and the status quo of China's power industry, and to solve the problems encountered by China Southern Power Grid Corporation in fulfilling its social responsibility for power supply. Research, and use the questionnaire survey and other situations to analyze the effects of fulfilling social responsibilities, and also bring inspiration to how similar enterprises, especially central enterprises in monopoly industries, fulfill their social responsibilities.
2. LITERATURE REVIEW
2.1 Definition of CSR
For the concept of corporate social responsibility many scholars in the academic world have their own views and understandings, and there is no consensus on this. Different scholars have different definitions on corporate social responsibility. In the following Table 2-1 for the definition of corporate social responsibility from different scholars.
2.2 Related theories on stakeholders
Stakeholder theory is by no means created by some people out of thin air. It has both a profound theoretical background and a solution to the practical problems encountered by enterprises. From the perspective of history and logic, the emergence and development of stakeholder theory is inevitable. When the classical enterprise dominates, it seems unquestionable for questions like "who is the owner of the enterprise." The investor of the enterprise is the legal owner of the enterprise and the subject of the enterprise. The entire economic activity of the enterprise follows the will of the investor and serves the interests of the investor.
Pioneer in the field of stakeholder management is Freeman's "Strategic Management of a Stakeholder Approach." 1984. In this book, Freeman outlines the basic characteristics of the stakeholder concept and understands the role of stakeholders in the sustainable management of the company from the perspective of strategic management, and thus plays an important role in the strategic management thinking. In addition, the definition of stakeholders given by Freeman has become the most classic definition. However, as Jones pointed out, Freeman apparently did not form a systematic stakeholder idea at the time, "although Freeman's work formally recognizes that other supporters of the company are important in addition to shareholders, but it is still not clear to make the concept of stakeholder a theory."
American scholar Margaret Blair (1999) focuses on the economic meaning of the “ownership” of modern public companies from the perspective of law. She said, “It is a misleading that the shareholder is the owner of a large company and does not bear all the risks as the theory assumes. Other participants are not out of risk as the theory assumes.” Blair was invited to visited in Beijing, her work has also been translated into Chinese, so domestic scholars are more familiar with his theory. The first impression of Blair’s theory is that “she has a strong critical attitude towards classical theory.