Shifting corporate social responsibility to corporate social opportunity through creating shared value

Abstract

Contributing to society is not simply a charitable gesture but can be a value creating activity when utilized with an appropriate strategy. Companies should attempt to move from “good corporation” to “smart corporation.” Society should also recognize that corporations are the organizations that create values in collaboration rather than just offering away some of their profits to society. When both corporations and society realize this mutually beneficial role, we can develop a virtuous cycle of increasing the benefits for both corporations and society.

Factors influencing corporate social responsibility disclosure (CSRD) by Libyan state-owned enterprises (SOEs)

“…Corporate social responsibility (CSR) is not a new concept, it means ethics, distinguishing right from wrong, and doing right. From a historical point of view, since the 1930s the social responsibility of business was not widely considered to be a significant problem from Adam Smith's time to the Great Depression during the 1930s and 1940s (Moon & Parc, 2019). As a result, in the late 1940s and during the 1950s, the primary developing body of knowledge on CSR was determined by the business organization, government policy, and society in general of social responsibility (Lafferty, 1996), as a means of doing good deeds for society (Carroll & Shabana, 2010) and is now an aspect of growing importance in many academic and research circles (Dentchev, 2005).…”

The management of sustainable development: A longitudinal analysis of the effects of environmental performance on economic performance

“…Despite evidence that corporate social responsibility (CSR) is increasingly considered important by both firms and capital market participants (Bowen, 2013; Moon & Parc, 2019), debates persist among researchers regarding the relation between CSR and firm performance (Awaysheh, Heron, Perry, & Wilson, 2020). Corporate governance scholars are increasingly interested in firms' social and environmental performance (EnP).…”

Institutional Factors That Affect Inclusive Businesses: The Case of Banana Cooperatives in the Magdalena Region (Colombia)

“…In the studied cooperatives, banana trading companies play an important role for inclusive business, with the policy of corporate social responsibility having become a formal institution for its development as it influences the positive relationship between distributor-cooperative-small producers. These companies have a commitment to improve the quality of life of small producers and include the integration of the economic and social value within their policies that align the generation of value with innovation processes (Michelini and Fiorentino 2012), which has been named ‘creation of shared value among stakeholders’ (Moon and Parc 2019).…”

“…It was first mentioned in the literature by Bowen (1953) who questioned the responsibility that businessmen must assume with society and opening the social conscience of the business management. Currently, the CSR is oriented to the creation of values shared by the stakeholders involved in the business (Breliastiti and Josephine 2017;Moon and Parc 2019;Nguyen, Bensemann, and Kelly 2018).…”