What is the strategic model of corporate social responsibility?
What is CSR strategy? CSR strategy is the comprehensive plan companies and funders use to design, execute, and analyze their corporate social responsibility initiatives. It includes specific focus areas, program design, promotion and communication approaches, and evaluation procedures.
What are the four CSR strategies?
Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.
What is strategic CSR?
“Strategic CSR is the incorporation of a holistic CSR perspective within a firm’s strategic planning and core operations so that the firm is managed in the interest of a broad set of stakeholders to achieve maximum economic and social value over the medium to long term”.
Why CSR is a competitive advantage according to Porter and Kramer?
According to Porter and Kramer (2006) , CSR actions improve the firm’s relationship with their stakeholder and are also an optimal instrument that improves the company’s competitiveness by generating shared benefits for the enterprise and society.
What is the difference between CSR strategy and strategic CSR?
Responsive CSR involves companies acting as good citizens and actively mitigating the potentially harmful effects of their value chain on society, whereas Strategic CSR extends beyond these practices and involves initiatives that both differentiate themselves from their competitors and are distinctly beneficial to …
What are the steps involved in strategy model of corporate social responsibility?
7 Steps to Effective Corporate Social Responsibility
- Define your messaging.
- Involve your customers.
- Create a scorecard.
- Use social media.
- Partner with a third party.
- Seek publicity.
- Repurpose your CSR reports.
What makes a good CSR strategy?
Prioritize: Identify which CSR issues are most important to your customers and stakeholders and deal with those first. Engaging your employees and customers is a great way to get going and gain support. Integrate: Your CSR strategy has to become part of your overall business strategy.
What was Porter and Kramer’s primary suggestion for companies pursuing CSR?
Porter and Kramer suggest a new approach to CSR which both (i) acknowledges the interdependence of companies and the broader community, and (ii) enables companies to develop a tailored, rather than generic, CSR strategy.
What did Michael Porter and Mark Kramer said about social responsibility?
In the 2011 HBR article “Creating Shared Value,” Michael Porter and Mark Kramer argued that companies can move beyond corporate social responsibility and gain competitive advantage by including social and environmental considerations in their strategies.
Should CSR be responsive or strategic?
What does Porter and Kramer say about CSR?
Porter and Kramer emphasize on allocating substantive corporate resources for truly strategic CSR. At the core of Porter and Kramer’s framework is the principle of creating shared value through strategic CSR.
How is CSR in line with corporate strategy?
Strategic CSR is in line with the company’s corporate strategy, leveraging their capabilities to improve their competitive advantage and benefit society simultaneously. While responsive CSR is altruistic, strategic CSR is factored by ‘self-interest’.
Which is the best model for corporate social responsibility?
THE CONCENTRIC‐CIRCLE MODEL OF CSR. The concentric‐circle (CON) model ( Figure 1c) is similar to the pyramid in that it views the economic role of business as its core social responsibility, and similar to the IC model in that it emphasizes the interrelationships among the different corporate social responsibilities.
Why did Michael Porter create the five forces model?
The five forces design and model was created by Harvard Business School professor Michael E. Porter to strengthen company performance, solve various problematic issues, measure the industry’s competitive nature, and develop corporate strategies appropriately. The Porter framework lets the business to analyze and explore the major