The Strategic Character of Corporate Social Responsibility (CSR): A Discussion and Evaluation of the Strategic Corporate Responsibility Concept

Abstract:

This study conceptualizes what a ‘strategic turn’ means in corporate social responsibility (hereafter CSR) and what that might mean for conceptions of the relationships between society, economy and the natural environment.We first explore the notion of strategic CSR, analyzing its drivers, components and definition, based on the existing discussions on the subject. There are several reasons for companies to engage in responsible action; by exploring them, we aim to understand the fundamental motivations, which influence investment in CSR and also the factors that have an impact in those decisions. In our perspective strategic CSR involves the confluence of three conditions: the integration of environmental and social concerns into a company’s strategy; the creation of social value; and an effective alignment between CSR’s strategy formulation and execution. Adopting a strategic CSR character results from CSR being taken as an intentional act from companies aiming at some specific benefits for society, the natural environment and themselves. We, therefore, explore the meaning of these conditions and their implications for management. Our main goal is to discuss some fundamental concepts and eventually referencing some areas that deserve additional research.