How is corporate social responsibility addressed by biotech firms? A case study analysis

Abstract

This paper explores corporate social responsibility (CSR) in the biotech high–tech sector as a way to achieve competitive advantages. After presenting the importance of science for high–tech firms, the paper focuses on the social and economic role of CSR. Next, the primary reasons for firms' engagement in CSR activities are presented, followed by an analysis of CSR activities, as disclosed by 26 international biotech firms in their websites. CSR biotech actions are presented and their stakeholders' interests are considered to classify their CSR motives as strategic or operational. The different CSR activities are evaluated to determine if they enhance or support a competitive advantage or just imply an unavoidable cost.