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A Conceptual Framework of Strategic Corporate Social Responsibility: A Model for Fulfilment of Societal Needs While Increasing Business Financial Performance

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Values and Corporate Responsibility

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Abstract

Research on corporate social responsibility (CSR) claiming that there is not much value in attempts to fit CSR into the business case is counterbalanced by research showing that socially responsible behaviour leads to increased profits. However, empirical research on the motivation and economic impact of CSR remains limited.

This study proposes the concept of strategic CSR (SCSR), defined as clearly articulated and communicated policies and practices towards gaining a competitive advantage by addressing unmet social needs. It shows that SCSR activities have a positive impact on corporate financial performance or economic value and societal value.

The proposed framework aims to support future research on CSR and provides practical guidance to business leaders aiming to implement CSR in their business.

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Author information

Authors and Affiliations

  1. Hong Kong, Hong Kong SAR

    Adrian A. Baumgartner

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  1. Adrian A. Baumgartner
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Editors and Affiliations

  1. Brighton Business School, University of Brighton, Brighton, UK

    Francisca Farache

  2. School of Business, University of Leicester, Leicester, UK

    Georgiana Grigore

  3. Bucharest University of Economic Studies, Bucharest, Romania

    Alin Stancu

  4. Bournemouth University, Bournemouth, UK

    David McQueen

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Baumgartner, A.A. (2020). A Conceptual Framework of Strategic Corporate Social Responsibility: A Model for Fulfilment of Societal Needs While Increasing Business Financial Performance. In: Farache, F., Grigore, G., Stancu, A., McQueen, D. (eds) Values and Corporate Responsibility. Palgrave Studies in Governance, Leadership and Responsibility. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-52466-1_7

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