DEFINING CORPORATE SOCIAL RESPONSIBILITY (CSR) PRACTICES: A MULTIDIMENSIONAL FRAMEWORK OF COMPLIANCE, STAKEHOLDER ENGAGEMENT, STRATEGIC VALUE, AND CULTURAL SENSITIVITY

Abstract

Listen

Translate article

Purpose: This study aims to establish a comprehensive framework for defining Corporate Social Responsibility (CSR) practices, recognizing the multi-layered approaches that companies adopt to meet legal standards, address stakeholder expectations, create strategic value, and align with cultural norms. The paper explores how distinct CSR models contribute unique perspectives that shape the broader understanding and implementation of CSR in corporate contexts. Design/methodology/approach: The study synthesizes insights from academic literature, categorizing CSR practices into four core approaches: compliance-oriented, stakeholder-centered, strategic value-driven, and culturally-embedded. Each model is examined for its defining attributes and practical implications, highlighting the diversity of CSR practices across industries and cultural contexts. Findings: Results indicate that CSR practices serve different purposes depending on the company’s strategic objectives and socio-cultural setting. Compliance-oriented CSR is reactive and legally driven, primarily focused on regulatory adherence. Stakeholder-centered CSR emphasizes ethical responsibility to various stakeholders. Strategic value-driven CSR integrates social goals with business strategy, enhancing corporate reputation and risk management. Lastly, culturally-embedded CSR reflects local norms and national policies, particularly in non-Western contexts. Research limitations/implications: This conceptual framework, while broad, may require further empirical validation across specific industries and regions to capture the full extent of CSR practices. Practical implications: Understanding the varied dimensions of CSR can guide corporations in choosing a balanced approach that aligns with their objectives, stakeholder expectations, and cultural setting. Originality/value: This study provides a holistic view of CSR practices, advocating for an integrative approach that balances compliance, stakeholder interests, strategic goals, and cultural relevance for sustainable corporate responsibility.