Abstract
These days, companies are moving from Corporate Social Responsibility (CSR) activities for short-term profit generation to the ones for achieving economic and social long-term goals. This phenomenon results from the idea that CSR is not a mere cost but can be used as a source of opportunity, innovation and competitive advantage. Deemed as a great business strategy, strategic CSR activities are being emphasized by various stakeholders in the global market. The purpose of this study is to present specific implications and to empirically research the relations among relational benefits, commitment, and authenticity. It identifies the main factors of relationship management in expanding the stakeholder pool and forming relationships for strategic CSR activities. To this end, we conducted a questionnaire survey of 113 CSR practitioners in Korea and analyzed how social, psychological, and economic benefits affect the satisfaction and durability of strategic CSR activities through relational commitment and authenticity. Consequently, social, psychological, and economic benefits have an impact on relationships and, by extension, have a positive effect on relational satisfaction and durability. However, economic benefits affect relational authenticity, but social and psychological benefits do not. As a result, relational benefits cannot affect satisfaction through relationships. Therefore, relational benefits and commitment are more important variables for the satisfaction and durability of strategic CSR activities.
Highlights
Since the 2000s, consumers have increasingly preferred companies that share their own values rather than companies with large influences, and corporate social contribution activities have spread worldwide [1,2]
We set a model that emphasizes that relational benefits can enhance commitment and satisfaction and, in turn, the satisfaction and durability of strategic corporate social responsibility (CSR) activities can affect the significance of relation commitment and authenticity
The study discovered that, among benefits, economic ones positively affect relational commitment and relational authenticity, and through relational commitment, especially affect the satisfaction and durability of strategic CSR activities, confirming their stronger effects compared to social and psychological benefits. This result is in line with existing studies that say the main drivers of strategic CSR activities are related to the profits of stakeholders [85] and the business profits of companies greatly affect their contribution to society [86]
Summary
Since the 2000s, consumers have increasingly preferred companies that share their own values rather than companies with large influences, and corporate social contribution activities have spread worldwide [1,2]. Recent research has shown that strategic corporate social responsibility (CSR) influences stakeholders’ opinions on companies [4] In this fast-changing business environment, CSR is establishing itself as a strategic value that creates a virtuous cycle where companies secure sustainable competitiveness while the community and society gain growth engines from social investment. This is made possible by forming industrial clusters with local partners on raw material, logistics, infra-integration and sharing, and the like, while sharing values with society, striving for mutual growth, and improving the components of the value chain such as education and the technology environment [5]. Coca-Cola has opened around 3200 retail outlets in areas where truck delivery is difficult due to poor transportation infrastructure by supporting African small farmhouses in cultivating tropical crops and local women in launching small retail outlets, creating about 19,000 jobs and increasing sales by $960 million
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