Abstract
Putting emphasis on the changing market conditions, stakeholder perspective, shareholder expectations, and non-market agents, this chapter examines how corporate social responsibility (CSR) and corporate social responsibility projects (CSRPs) have evolved over time and become strategic cornerstones for firms in the twenty-first century. As a chief concern, this chapter tackles the evolving definition of CSR from “social responsibility is obligation of a businessman” (Davis, K., Busines and society: Environment and responsibility. McGraw-Hill, New York, 1975, p. 6) to “a firm should grow with the society in a harmony with its social norms and beliefs while supporting the society’s economic and societal development goals beyond what law commands.” In addition, the present chapter addresses how CSRPs enable firms to become better fit into a business environment and integrate themselves to their socioeconomic habitat. Following these ideas, it explains how a firm’s CSR philosophy could be leveraged to gain competitive advantage and legitimation at a given market setting through subsections (strategic communication and corporate social responsibility, lobbying and corporate social responsibility, CSR during disasters and crisis, CSR and digitalization). As a concluding remark, the chapter provides a short summary of the chapter.
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Further Readings
Gugler, P., & Shi, Y. J. (2009). Corporate social responsibility for developing country multinational corporations: Lost war in pertaining global competitiveness? Journal of Business Ethics, 87(1), 3–24.
Lindgreen, A., Vanhamme, J., Watkins, R., & Maon, F. (2018). Communicating corporate social responsibility in the digital era. New York: Routledge.
Wade, M. (2020, April 28). Corporate responsibility in the digital era. Retrieved from MIT Sloan Management Review: https://sloanreview.mit.edu/article/corporate-responsibility-in-the-digital-era/
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Ar, A.Y. (2021). Corporate Social Responsibility. In: Harris, P., Bitonti, A., Fleisher, C.S., Skorkjær Binderkrantz, A. (eds) The Palgrave Encyclopedia of Interest Groups, Lobbying and Public Affairs . Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-13895-0_193-1
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DOI: https://doi.org/10.1007/978-3-030-13895-0_193-1
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Corporate Social Responsibility- Published:
- 17 September 2021
DOI: https://doi.org/10.1007/978-3-030-13895-0_193-2
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Corporate Social Responsibility- Published:
- 29 January 2021
DOI: https://doi.org/10.1007/978-3-030-13895-0_193-1