>
Bureaucratic
Paternalistic
Strategic partnership
Entrepreneurial
Mutual learning
Nexus with core competencies
Peripheral
Linked to core business
purpose
As shown above, CSR is no longer confined to one-off philanthropic activities; it is now integrated into corporate
strategy, with full-fledged department overseeing CSR activities.
Moreover, breadth of CSR strategies and initiatives has also evolved immensely over recent years as follows:
Societal
Value-added
Sustainable value and
Long-term growth
Create new value
- New products and services
- New processes
- New alliances
- New business models that meet
societal and customer needs.
Community investment
- Strategic philanthropy
- Social venture capital
Control
-costs
-risks
-liabilities
-negative impacts
Compliance
-Obey the law
Shareholder
Value-added
'Most health care professionals promise that if we engage in regular physical activity we'll look better, feel better, do better and live longer. There are many who say that participation in corporate social initiatives has similar potentials benefits. It appears that such participation looks good to potential consumers, investors, financial analysts, business colleagues, in annual reports and in the news' (Kotler and Lee, 2005)
CSR offers a number of advantages to organizations namely:
Strongly profitability and positive financial performance
For the bottom line firms can take into consideration CSR and corporate sustainability to produce higher benefits for them. Operational efficiencies can be achieved by reducing wastes, energy and materials. These can contribute to economic benefits as well as financial performance and profitability.
Improved better relations with the investment community and have better access to short and long term assets.
The relationships between corporate social responsibility and financial performance have been improved through the investment community. The number of mutual funds integrating CSR criteria is increasing. Many companies not meeting environmental and social standards are now interesting with CSR criteria. Thus, a company using a CSR approach can improve the stature of the company in accordance with the investment community, the stock market valuation of a company, and its capacity to get access to capital from that investment community.
Enhancement of innovation, productivity, and relationships between employers and employees.
CSR establishes some conditions that lead to increasing motivation and commitment among workers to be more productive and innovative. Firms that engage in CSR related tools and perspectives appear to be provide better conditions for commitment from employees and loyalty among others.
These better conditions can help recruiting more employees, retaining of employees, motivate workers to develop abilities and new skills, and encourage employees to accept in training and learning, to find some innovative ways to reduce costs and also identify an
本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。