How Corporate Social Responsibility Can Contribute To Growth Strategy

Abstract

Abstract The slow growth of the economy requires an adequate response, even from companies in the hotel industry. In order to achieve an increase in turnover, they can react with a change of strategy, or cost cutting. The use of corporate social responsibility has been identified as one potential strategy of growth. Corporate social strategy is based on three traditional crucial factors that include social, economic and ecological values. The authors of this contribution analyse the possibilities to achieve an outstanding reputation of a company in the field of corporate social responsibility in order to gain the support of the public and stakeholders. They refer to the fact that corporate social responsibility is one possible way to achieve long-term profitable growth in the field of the hotel industry, even in a complex economic development.