Abstract
ABSTRACTCorporate social responsibility (CSR) has evolved to a leading subject for both academic research and management practice. Although several standpoints exist to approach theoretical and practical implementation issues, however, CSR is, mostly, perceived as a managerial tactic that integrates and deals with sustainability challenge. The International Maritime Organization (IMO) has already attempted to align its policy with United Nation’s (UN’s) latest sustainability mandates and, specifically, with UN's 2030 Agenda on Sustainable Development. In that respect, the Organization has committed itself to establish a sustainable maritime transportation system by founding sustainability initiatives in a wider CSR framework. Further to a study carried out to 50 tanker and dry bulk maritime companies, the aim of this study is to investigate and discuss restricting factors and driving forces associated with the implementation of CSR in shipping. Chi-square independence test and contingency coefficient statistical measures are employed to test formulated hypotheses. Findings imply that lack of training and appreciation of long-term benefits that CSR can bring to an organization constitutes a significant discouraging factor to CSR engagement. In terms of CSR drivers, increased trust and improved company's image and relationships with key stakeholders represent a key motivating factor to CSR implementation.
Highlights
Corporate social responsibility (CSR) is a broad subject that has, progressively, been extended and established itself into the current business mindset
This study focused on the barriers and drivers encountered by the implementation of CSR in international shipping and, in particular, by shipping companies operating in the tanker and dry bulk maritime sector
This paper investigates and discusses perceived barriers and drivers to be encountered by CSR implementation in the tanker and dry bulk shipping sector
Summary
Corporate social responsibility (CSR) is a broad subject that has, progressively, been extended and established itself into the current business mindset. Regulatory developments and greater environmental sensitivity have transformed contemporary business operational mentality. From a more cynical view, it has been admitted that the primal objective for business is to utilize its available resources and operate in a way that profit maximization is achieved. A more ethical approach supports that every enterprise should view itself as a public entity and performs in a way that financial pursuits are achieved, as long as they are balanced with its social contribution. Regardless the angle that somebody approaches CSR, globalization, evolving business operating models, technological advances, developments in international law and greater connectivity among stakeholders across the world have placed multidimensional challenges for today’s businesses (Kytle and Ruggie 2005)
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