Convergence of corporate social responsibility and business growth: an analytical framework

Andrée Marie López Fernández and Prof Rajagopal

International Journal of Business Excellence, 2014, vol. 7, issue 6, 791-806

Abstract: Organisations stem from and are surrounded by society; therefore, there is an undeniable symbiotic relationship that takes place with their emergence. Such relationship is underscored when firms engage in corporate social responsibility practices, at least, in the societal ambience in which they operate. Corporate social responsibility is a strategy that has been known to improve firms' reputations and stakeholders' satisfaction, and has now been mostly related to the enhancement of social benefits. There are social and economic factors that are individually related to corporate social responsibility, yet, it is their integration that propitiates the appropriate convergence with a firm's business growth. If organisations ensure effective convergence of corporate social responsibility actions with business strategies, they may achieve business growth whilst appealing to its and society's needs. Thus, in order to effectively create positive collateral effects on business and society, firms should converge corporate social responsibility strategies with business growth strategies.

Keywords: corporate social responsibility; business growth strategies; stakeholder satisfaction; CSR practices; firm reputation; social benefits; social factors; economic factors; CSR integration; society needs. (search for similar items in EconPapers)
Date: 2014
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