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The Corporate Sustainability and Responsibility Proposition: A Review and Appraisal
Abstract
This chapter deliberates on the business case for CSR. It contends that corporations are capable of implementing responsible behaviors as they pursue their profit-making activities. A thorough literature review suggests that there is a link between corporate social responsibility (CSR) or corporate social performance (CSP) and financial performance. In addition, there are relevant theoretical underpinnings and empirical studies that have used other constructs, including corporate citizenship, stakeholder engagement and business ethics. In this light, this contribution reports on how CSR is continuously evolving to reflect today's societal realities. Therefore, it raises awareness of key notions representing strategic CSR, creating shared value and corporate sustainability and responsibility (CSR2.0). This latter perspective suggests that responsible behavioral practices may be strategically re-conceived to confer competitive advantage over rival firms. Therefore, this chapter makes reference to laudable investments that could unleash shared value. It implies that CSR2.0 demands business to build adaptive approaches with stakeholders for the benefit of the firm and for societal advancement.
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