Business Ethics and Corporate Governance, Second Edition

CSR AS A BUSINESS STRATEGY FOR SUSTAINABLE DEVELOPMENT

What is CSR strategy? To IBM, CSR strategy refers to enhancing stakeholder value and the delivery of measurable results to society at large.²² In the context of developing societies, “CSR is about capacity building for sustainable livelihoods”. When CSR is adopted as a business strategy for sustainable development, it goes to improve corporate performance. It offers manifold benefits to corporations both internally and externally. Externally, it creates a positive image and goodwill among the public and earns a special respect amongst peers, customers, government agencies, investors and media, all of which go a long way in promoting long-term shareholder value and sustainable development. ...