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Socially Responsible Value Creation in the Post-COVID-19 Era: Taking Advantage of Dynamic and Digital Capabilities
Abstract
The unfortunate economic environment emanated from the outbreak of the coronavirus has suddenly raised business organizations' concerns over the value creation. This new era forced them to focus on dynamic and digital capabilities to cope with the adverse changes. Following the stakeholder theory and the resource-based view, this chapter attempts to specify value creation of companies to preserve strategic position while satisfying the demands and interests of their stakeholders. In this sense, corporate social responsibility (CSR) seems a viable way of providing help and support to stakeholders during the fight against the pandemic as well as a catalyzer for the integration of sustainable development goals that can bridge the widened gap in the society. Hence, this chapter seeks to present an understanding on socially responsible value creation, dynamic and digital capabilities, and implementation of sustainability-driven CSR initiatives to ensure recovery, growth, and achieve sustainable development goals.
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