- CSR practices are comprised of stakeholder engagement and operational activities.
- A holistic framework based upon extant literature enhances analysis of CSR practices.
- Pursuit of social licence to operate has impacts at both surface and deeper levels.
- The appearance of a lot of CSR activity is often ‘not enough’.
- Reflection and learning are crucial to improve responses to diverse stakeholders.
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The resources sector is increasingly being called upon to show greater commitment to resolving environmental and social problems prevalent in the regions where they operate. Appeals for greater responsibility, accountability and transparency are getting louder. Consequently, enterprises’ responses to these demands have been the subject of discussion and debate for decades. Theoretical and empirical knowledge regarding these issues has been generated by numerous case studies and evaluations of different approaches to corporate social responsibility (CSR). Critiques of approaches adopted by companies to obtain social license to operate are also plentiful. However, the existing discourse is scattered. It lacks a coherent frame of reference for considering the ways that corporations respond to diverse stakeholder demands and the consequences for value creation. This paper addresses this gap by integrating key insights drawn from the extant literature to develop a novel conceptual framework. It provides a unique perspective on the ways that companies create social, environmental, and economic value for diverse groups of stakeholders, and how this may be improved. This theoretical contribution is accompanied by the creation of a sense-making device that facilitates reflection, learning and the development of strategy. The device can be used by organizations to enhance their capacity to respond to diverse stakeholder groups in ways that bestow real, enduring benefits.