Article2012

Why Every Company Needs a CSR Strategy and How to Build It

Kash Rangan · Lisa A. Chase · Sohel Karim

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Corporate Social Responsibility Reporting Corporate Social Responsibility and Sustainability Corporate Identity and Reputation

Abstract

Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Why Every Company Needs a CSR Strategy and How to Build It The topic of corporate responsibility has been captioned under many names, including strategic philanthropy, corporate citizenship, social responsibility and other monikers. As the names imply, each carries with it a certain perspective on the role of business in society. Regardless of the label, for now the dominant paradigm underlying corporate social responsibility or CSR is centered on the idea of creating “shared value. ” The role of business, according to this model, is to create value for its shareholders but in such a way that it also creates value for society, manifesting itself as a win-win proposition. In one fell swoop the idea aims to unite the critics of CSR from the left and the right, for the notion of CSR has had the dubious distinction of being criticized by both sides of the ideological spectrum. Civil society advocates question corporations ’ fundamental motivations for CSR, asserting that corporate programs to fund social and environmental programs are nothing more than public relations campaigns to boost their brand reputations, often disproportionately to the

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References

2007The Social Responsibility of Business Is to Increase Its Profits 2007Strategy and society: the link between competitive advantage and corporate social responsibility 2001Does Doing Good Always Lead to Doing Better? Consumer Reactions to Corporate Social Responsibility 2018Creating Shared Value 2006Corporate Social Responsibility, Customer Satisfaction, and Market Value 2002The competitive advantage of corporate philanthropy.2013Why sustainability is now the key driver of innovation 2003Corporate Social Responsibility: Whether or How?

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