SOLYP-Blog

Doing Good and Deriving Benefit: How to Gain Competitive Advantages Through Strategic Corporate Social Responsibility

on October 12, 2012

The concept of corporate social responsibility (CSR) is no longer considered as wishful thinking of left-wing activists and philanthropically inclined entrepreneurs. Media, consumers, citizens’ initiatives, trade unions, and employees but also investors and governments put increasing pressure on businesses to take responsibility for the social and ecological consequences of their economic activities. Today, businesses have little choice but to succumb to the pressure of the society if they want to succeed in the marketplace in the long-term. CSR has become an important factor for a businesses’ ability to compete (Hansen & Schrader, 2005).