Background: Globalization, strong development of information-communication technologies and the emergence of new burning challenges for the global communities enabled the concept of corporate social responsibility to be perceived as a business model that allows for successful differentiation of companies, as well creating sustainable competitive advantage. Objective: The goal of the paper is to offer a short overview of the role of internal and external stakeholders within the concept of corporate social responsibility and point out the importance of quality relationships between the company and its stakeholders with the aim of improving the standard of living of all community members. Methods/approach: The paper is based on a systematic analysis of previously published relevant international scientific papers in the field of corporate social responsibility, stakeholder theory and information-communication technologies. Results: This paper demonstrates that the concept of corporate social responsibility has gone, in its several decades of existence, from the "unnecessary dependency" phase to the critical business model phase. Conclusions: As there is a natural connection between the concept of corporate social responsibility and the stakeholders, it can be concluded that the quality of the relationship between the company and its stakeholders represents a key factor that affects the success of the company in its notion of differentiating itself from competitors and creating sustainable competitive advantage.

Corporate social responsibility (CSR) can be seen as an important differentiation strategy for organizations operating in foreign markets, as it helps organizations to gain legitimacy, transfer their positive reputation, gain visibility and easily adapt to a new environment. The implementation of CSR activities in foreign markets is often different from the local markets. Beside institutional and legal framework, shareholders' interests can also significantly vary. Therefore, in order to achieve competitive advantage in foreign markets by using CSR, it is necessary to identify the interests of key stakeholder groups and to identify the most efficient activities and communication channels towards them. This chapter provides insight into the importance of CSR activities and communication on stakeholders' management on foreign markets, based on the empirical research on a sample of medium and large export organizations in Croatia. Results of the research indicate the importance and positive influence of CSR activities and communication on stakeholders' management in foreign markets.

Continuous globalization, rapid development of information-communication technologies, and the presence of new burning challenges for the global community have contributed to the perception of corporate social responsibility as a strategic tool that allows for successful differentiation and sustainable competitive advantage. The goal of this paper is to offer a short overview of the role of a strategic approach to corporate social responsibility, as well as emphasize the importance of such an approach in creating competitive advantage for a company, but also of sustainability of society as a whole. The paper is based on a primary research questionnaire conducted on middle-sized and large Croatian export companies, as well as a systematic analysis of previously published relevant international scientific papers in the area of corporate social responsibility.

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. AbstractIn this paper, we investigate how corporate social responsibility (hereafter CSR) practices of domestic Croatian mid and large size firms differentiate them on foreign markets. Still, in order for export organizations to realize benefits offered by CSR, export organizations need to identify their main stakeholder groups and interests, and adequately design their CSR activities. This paper provides an overview of the main CSR activities of export organizations in foreign markets and analyses their stakeholder's management as well as the quality of relationships with their primary and secondary stakeholders on foreign markets. Results of empirical research on a sample of 78 medium and large Croatian export companies show that these export organizations invest significant efforts in implementation of different CSR activities, and into relationships with their primary stakeholders.

Social responsibility is an irreplaceable concept in the modern global economic network. As the concept of social responsibility "matured" in business and science, an increasing number of investors have recognized the benefits of conducting socially and environmentally conscious business and are encouraging the management and other stakeholder groups to implement socially responsible activities to achieve strategic goals. Strategic implementation of socially responsible activities opens up the space for creating a market position that competitors can hardly reach. They would have to successfully imitate the whole spectrum, not just a single socially responsible activity. This paper aims to discuss the relationship between the implementation of social responsibility and company strategy in light of previous research. Sustainable competitive advantage and a positive business result stem from a quality strategy adhered to by all organizational levels in the company. A good link between corporate strategy and the concept of social responsibility is a prerequisite for achieving long-term business sustainability in the global economic network. Based on the above, social responsibility is considered an important strategic element.