Investigating the critical success factors of corporate social responsibility implementation: evidence from the Iranian banking sector

Abstract

PurposeThe main purpose of this paper is to identify the critical success factors of corporate social responsibility (CSR). By illustrating the CSFs of CSR implementation, policy‐ and decision‐makers can handle the business at a higher level of effectiveness and efficiency and will achieve sustainable development in a turbulent business environment. To achieve this purpose and to identify the CSFs of CSR implementation, evidence from the banking sector of Iran will be gathered. By using the experts in this field, the CSFs identified will be validated and then ranked.Design/methodology/approachTo achieve this purpose and to identify the CSFs of CSR implementation, evidence from the banking sector in Iran will be gathered. By using the experts in this field, the CSFs identified will be validated and then ranked. This research, implemented in the banking sector, is an innovative study that can contribute valuable insights for both academicians and professionals in the field. In the final section of this work, applied and theoretical recommendations will be presented.FindingsIn this research the critical success factors for CSR implementation are identified and presented. For gathering data and sampling, the banking sector of Iran was selected as the case study of this research. Based on the viewpoint of the experts of this research, 23 CSFs for CSR implementation were identified and then the importance of these CSFs was determined. This is an innovative study in the field of CSR in the banking sector that presents a new category for critical success factors for CSR implementation. All the identified CSFs are categorized into the five main sections of the organizational functional areas. These functional areas include financial, marketing, environmental, strategic and human resources.Originality/valueThis study first provides a framework for CSR implementation in the banking sector. Also the main CSFs are identified and ranked. By means of the results of this study, decision makers in the field will be more familiar with CSR and can make higher decisions for the chief departments of the organization. Finally academicians in the field can use the framework of this research and develop CSR for other organizations and sectors of business.