Abstract
Sustainable growth can be a source of success for firms. Corporate social responsibility (CSR) is a key tool for sustainable growth. However, should firms invest in CSR without having confidence in the effects and methods of CSR? This study explored the R&D, technology commercialization, and CSR motivation as core competencies that enhance corporate performance through CSR from a normative perspective—the stakeholder’s perspective. The purpose of this study was to investigate both strategic and traditional CSR’s relationships with financial performance based on the confidence in the effectiveness of CSR. Another important objective of this study was to explore management factors that influence strategic CSR. Firms consider R&D and technology commercialization as strategic management factors. Therefore, this study analyzed the influence of these strategic management factors along with CSR motivations, which may influence strategic and traditional CSR.
Highlights
Is corporate social responsibility (CSR) really an essential factor for sustainable growth? Sustainable growth is one of the key issues faced by firms, and the importance of this factor is increasing
The normative perspective is related to the level of motivation of CSR from the management position and their concerns with whether or not to make a sound and moral business decision; the instrumental perspective is a question of how CSR can play a key role in generating corporate performance
Strategic CSR is a business activity that is conducted based on the expertise that is acquired from management to provide social products or services
Summary
Is corporate social responsibility (CSR) really an essential factor for sustainable growth? Sustainable growth is one of the key issues faced by firms, and the importance of this factor is increasing. With the backdrop of this business environment, CSR is considered a necessary factor for enabling businesses to meet the demands of the changing times as well as achieve sustainable growth. Firms have been considering means of simultaneously pursuing economic profits and contributing toward society to help achieve sustainable growth for some time. Little research has been done to analyze the effects of the demand for CSR in the field of strategic business management. We analyze the effects of the relationship between CSR and strategic business management. To create win-win results for strategic CSR, it would be necessary to ensure that both the firm and society acquire shared common value from CSR. Research on the correlation between each factor suggests a basis for setting the direction of strategic management for the sustainable growth of firms
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
