Corporate social responsibility: a value-creation strategy to engage millennials

2019 ◽  
Vol 35 (7) ◽  
pp. 5-8 ◽  
Author(s):  
Tashfeen Ahmad
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Value Creation ◽  
Implementation Strategies ◽  
Business Managers ◽  
Content Type ◽  
Csr Strategies ◽  
Strategic Direction ◽  
Changing Times ◽  
Corporate Social

Purpose The purpose of this short piece is to share ideas on value creation strategies to engage millennials at work. This is in the context of changing requirements and expectations of younger workforce. Design/methodology/approach The paper offers the viewpoint of this author which is backed by recent findings and surveys. Findings Corporate social responsibility (CSR) has been instrumental in creating value and growth for businesses; however, Deloitte’s recent survey (2018) indicates that the younger generation of millennials are expressing grave misgivings about the true intentions and motivations surrounding a company’s CSR policy and ethical conduct. This piece offers three perspectives on CSR implementation strategies which are useful guidelines to generate enhanced value in the changing times. Originality/value Businesses have to be flexible and responsive by adopting appropriate CSR strategies in order to remain relevant and competitive. The three models in this viewpoint will help business managers to enhance engagement, create value, and build their businesses for stakeholders and wider society. Most importantly, these strategies will help in gaining millennials’ losing trust on businesses and streamlining strategic direction.

The negative synergistic effect of internationalization and corporate social responsibility on US restaurant firms’ value performance

2016 ◽  
Vol 28 (8) ◽  
pp. 1759-1777 ◽  
Author(s):  
SoYeon Jung ◽  
Seoki Lee ◽  
Michael Dalbor
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Synergistic Effect ◽  
Fixed Effects ◽  
International Markets ◽  
Investment Strategies ◽  
Fixed Effects Model ◽  
Content Type ◽  
Csr Strategies ◽  
Corporate Social

Purpose The purpose of the current study is to investigate the possible existence of a synergistic effect of internationalization and corporate social responsibility (CSR) on a firm’s value performance. Design/methodology/approach To empirically test the argument, this study analyzed data from 40 US-based publicly traded restaurant companies (251 observations) from 2000 to 2011 by performing a two-way fixed-effects model. Findings This study’s findings support the hypothesis that when implemented simultaneously, internationalization and CSR have a negative synergistic impact on a restaurant firm’s value performance. Practical implications Restaurant managers might need to inquire thoroughly into the timing and content of CSR investment strategies while entering into new international markets. Restaurant executives may additionally need to focus more on effective risk management than other issues (e.g. growth or reputation) when developing both internationalization and CSR strategies simultaneously. Originality/value By suggesting and demonstrating a negative synergistic effect of internationalization and CSR on a firm’s value, this study presents new and unique insights into previous research regarding the combined effect of the two strategies.

Comparing UK food retailers corporate social responsibility strategies

2017 ◽  
Vol 119 (3) ◽  
pp. 658-675 ◽  
Author(s):  
Diogo Souza-Monteiro ◽  
Neal Hooker
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
New Products ◽  
Annual Reports ◽  
Complete Analysis ◽  
Corporate Communications ◽  
Content Type ◽  
Csr Strategies ◽  
Food Retailers ◽  
Corporate Social

Purpose The purpose of this paper is to examine how socio-economic and institutional factors impact UK food retailers’ corporate social responsibility (CSR) strategies as revealed in corporate communications and product marketing. Building on institutional theory, the authors empirically examine whether discourse in CSR reports aligns with commercial strategies. Design/methodology/approach Employing a mixed method approach the authors quantify quotes related to key CSR themes in annual reports and claims on new private label products launched in nine key product categories using information from Mintel’s Global New Products Database. These measures are grouped into eight distinct CSR themes across seven retailers and seven years (2006-2012). Findings Health and safety and environment are the leading themes in both data sets. Animal welfare, community and biotechnology and novel foods take the middle ground with differing use across reports and products. Fair trade, labor and human resources and procurement and purchasing are the least commonly described themes in reports and on products. Retailers focus on different CSR themes in reports and new products, which may be evidence of competitive rather than pre-competitive strategies. Research limitations/implications This research shows that UK food retailers CSR strategies between 2006 and 2012 were more competitive than pre-competitive, which is in line with theory that suggests economic pressures decrease incentives to cooperate. However, this research is limited to innovation data and analysis of CSR reports. A more complete analysis would need to consider sales or consumption data, wider sources of corporate communications and independent measures of social, environmental and economic impact. The authors’ findings caution policy makers to be wary of retailers commitments to voluntary agreement pledges, particularly when the competitive environment and economic conditions are more challenging. Practical implications Firms are increasingly pressured to contribute to social and environmental domestic and international commitments. Business should enhance coordination between CSR offices and commercial divisions to develop more consistent and effective social responsibility programs. Originality/value This is the first attempt to compare the evolution of CSR discourse and marketing strategy over time and across businesses in a key retail market.

Intellectual capital: the missing link in the corporate social responsibility–financial performance relationship

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Niccolò Nirino ◽  
Alberto Ferraris ◽  
Nicola Miglietta ◽  
Anna Chiara Invernizzi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Ordinary Least Squares ◽  
Mediating Effect ◽  
Least Squares Regression ◽  
Content Type ◽  
Csr Strategies ◽  
Corporate Social

PurposeThe purpose of this paper is to propose and empirically test intellectual capital (IC) as a mediator in the corporate social responsibility (CSR) and financial performance (FP) relationship.Design/methodology/approachThe empirical research was conducted on 345 European firms listed in the STOXX Europe 600 index. To evaluate the mediating effect of IC, we applied the four-step Baron and Kenny model, tested through an ordinary least squares regression analysis.FindingsThe findings highlighted a partial mediation of IC on the CSR–FP relationship, suggesting that the implementation of CSR strategies has a positive effect on the development of firms' IC, which in turn enhances firms' competitive advantage and superior long-term FPs.Originality/valueWe found a new mediator in the CSR–FP relationship and we contribute to a new line of research that aims to study environmental and sustainability aspects strictly interrelated with IC and performances (sustainable intellectual capital).

From strategic corporate social responsibility to value creation: an analysis of corporate website communication in the banking sector

2020 ◽  
Vol 38 (7) ◽  
pp. 1529-1552 ◽  
Author(s):  
Maria Palazzo ◽  
Agostino Vollero ◽  
Alfonso Siano
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Value Creation ◽  
Banking Sector ◽  
Three Dimensions ◽  
Insurance Companies ◽  
Content Type ◽  
Corporate Websites ◽  
Business Goals ◽  
Corporate Social

PurposeIncreased public scrutiny and stakeholder pressure have given more importance to strategic corporate social responsibility (SCSR) and its three dimensions – orientation, process and value creation. At the same time, they provide banks the inspiration needed to pursue business goals, attain positive performances and communicate their social responsibility efforts. This paper analyses whether and how companies in the banking sector use corporate websites to communicate SCSR dimensions.Design/methodology/approachA content analysis was performed based on the corporate websites of leading banks included in the Dow Jones Sustainability World Index and the Hang Seng Corporate Sustainability Index to assess the prominence of SCSR communication.FindingsThe study shows that banks give less prominence to SCSR on corporate websites differently from companies belonging to other sectors, as they are less likely to expose their orientation to SCSR and pay slightly less attention to value creation than other companies.Practical implicationsThe paper provides theoretical insights into SCSR dimensions and how they are communicated on corporate websites. From a practical standpoint, the study provides guidance for managers in the banking sector aimed at improving their communication efforts, avoiding decoupling issues and adopting a consistent value creation perspective.Originality/valueFew studies have used a value creation perspective to differentiate between the dimensions of a SCSR approach. The paper fills this gap by assessing the communication efforts adopted by banks and insurance companies in this area.

scholarly journals Corporate social responsibility influences employee engagement

2018 ◽  
Vol 14 (1) ◽  
pp. 123-137 ◽  
Author(s):  
Georgios Tsourvakas ◽  
Ioanna Yfantidou
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Employee Engagement ◽  
Quantitative Methodology ◽  
Positive Role ◽  
Content Type ◽  
Staff Members ◽  
Csr Strategies ◽  
Financial Difficulties ◽  
Corporate Social

Purpose The purpose of this study is to explore the influence of corporate social responsibility (CSR) on employee engagement, motivation and job satisfaction on the staff members of two multinational companies in Greece (Procter & Gamble [P&G] and Unilever). Design/methodology/approach A quantitative methodology in the form of statistical analysis of the results was derived from the responses on an employee engagement questionnaire. Findings Findings show that employees are proud to identify themselves with companies that have a caring image. CSR is also positively linked to employee engagement for both companies. Research limitations/implications The small size of the sample is a limitation because it leaves no room for generalising the findings. Secondly, although some of the hypotheses were backed by the data, he findings are not strong enough, as the reported correlations are too small. Practical implications Practitioners and marketing professionals can benefit from this research by absorbing the fact that employees feel engaged, satisfied and motivated when they play a positive role in the society through their work. As a result, it would be constructive for professionals to plan CSR strategies and involve employees both in planning and execution of those strategies. Originality/value Unlike other studies, the authors tried to examine the link between CSR and employee behaviour amid Greece’s financial difficulties.

The effect of customer citizenship in corporate social responsibility (CSR) activities on purchase intention: the important role of the CSR image

2018 ◽  
Vol 14 (4) ◽  
pp. 753-763 ◽  
Author(s):  
Eun-Mi Lee ◽  
Sung-Joon Yoon
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Purchase Intention ◽  
Purchasing Behavior ◽  
Content Type ◽  
Csr Strategies ◽  
Consumer Citizenship ◽  
Csr Image ◽  
Antecedents And Consequences ◽  
Corporate Social

Purpose The purpose of this paper is to examine whether the corporate social responsibility (CSR) image of a firm is influenced by consumer citizenship and the consumer’s involvement in CSR and the extent to which this affects purchase intention. Design/methodology/approach A total of 304 usable responses were obtained from a sample of 313 consumers who were 18 years of age or older. Findings The result of study indicates that consumer citizenship and involvement in CSR activities have significant effects on CSR image, and that consumer citizenship has a significant effect on involvement in CSR activities. CSR image also has a positive effect on product attitude but no significant influence on purchase intention. Originality/value The consumer perception of a firm’s CSR image is an important factor to consider while implementing CSR strategies; therefore, it is strategically important to understand the antecedents and consequences of creating a positive CSR image because of its effect on the responsible purchasing behavior of people who adhere to strong consumer citizenship.

Corporate social responsibility and payout decisions

2017 ◽  
Vol 43 (9) ◽  
pp. 982-998 ◽  
Author(s):  
Marwa Samet ◽  
Anis Jarboui
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Payout Policy ◽  
Stock Option ◽  
Share Repurchases ◽  
Socially Responsible ◽  
Content Type ◽  
Csr Strategies ◽  
Corporate Social ◽  
The Relationship

Purpose The purpose of this paper is to investigate whether and how corporate social responsibility (CSR) performance contributes to shape firms’ payout policy. In particular, it examines the influence of CSR performance on payout level and payout channel choice (dividend payment or share repurchases). Additionally, it examines the moderating role of CSR performance in the relationship between dividends and share repurchases. Design/methodology/approach Using 397 European companies listed in the STOXX Europe 600 over the period from 2009 to 2014, the authors employ regression analysis to explore the link between CSR performance and payout policy. Findings The first result shows that firms with high CSR performance engage more in payout policy. Second, when choosing between paying dividends and repurchasing stocks, firms with high CSR performance tend to prefer share repurchases. Finally, CSR performance plays an important role in determining the relationship between dividends and repurchases. Specifically, dividends and share repurchases seem to be more substitutable among socially responsible firms. Practical implications Firms that are able to develop successful CSR strategies can generate tangible benefits for their shareholders in the form of high payout levels. An increase in CSR expenditure does not lead to cut or minimize the cash flow paid out to shareholders. In addition, government and regulators have to oblige or at least encourage socially responsible firms to use executive stock option that are dividend protected, in order to reduce distortions in dividend policy. Originality/value This is the first attempt to investigate the association between CSR performance and share repurchase activities.

Corporate social responsibility and firms’ cost of equity: how does culture matter?

2017 ◽  
Vol 24 (1) ◽  
pp. 105-124 ◽  
Author(s):  
Marie-Louise Matthiesen ◽  
Astrid Juliane Salzmann
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Cost Of Equity ◽  
Content Type ◽  
Csr Strategies ◽  
Responsible Behavior ◽  
Level Data ◽  
Corporate Social ◽  
The Cost ◽  
The Relationship

Purpose The purpose of this paper is to examine the relationship between corporate social responsibility (CSR) and cost of equity in an international context assessing the moderating effect of culture on the relation between CSR and the cost of equity. Design/methodology/approach The authors use an international sample of 42 countries, and company-level data from 2002 to 2013, to address cross-country variations in the effects of CSR on cost of equity in different cultural contexts. Findings The authors first substantiate previous research and show that the more a company is engaged in CSR, the lower its cost of equity. The authors then find that the relationship between CSR and cost of equity is stronger in countries with lower levels of assertiveness and higher levels of humane orientation and institutional collectivism. Practical implications The study advances understanding of how national culture promotes socially and environmentally responsible behavior. The implementation of CSR strategies depends on cultural norms, so companies need to be sensitive to local demands and adjust their CSR approaches accordingly. Originality/value The paper highlights the need to study how culture influences the relationship between CSR and cost of equity.

scholarly journals Towards a holistic view of corporate social responsibility. The antecedent role of information asymmetry and cognitive distance

Kybernetes ◽  
2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Francesco Caputo
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Information Asymmetry ◽  
Holistic View ◽  
Cognitive Distance ◽  
Content Type ◽  
Csr Strategies ◽  
Oriented Path ◽  
Corporate Social

Purpose This paper aims to enlarge ongoing debate about corporate social responsibility (CSR) proposing reflections about the role of cognitive and information flows in influencing companies’ approaches and market expectations related to CSR. Design/methodology/approach The paper builds upon the research streams related to the information asymmetry and cognitive distance, for identifying through the interpretative lens provided by systems studies, possible key drivers on which policymakers, researchers and practitioners should act for building a suitable, shared and long-term oriented path for CSR. Findings The paper defines a scenario map about CSR in the light of information asymmetry and cognitive distance. Such a map supports both researchers and practitioners in better understanding actions and paths required for building a shared approach to CSR. Research limitations/implications Recognizing the multidimensionality of CSR and the multiple managerial and organizational contributions provided for underling its advantages for companies, the paper focuses the attention on the elements and conditions able to promote, stimulate and encourage companies’ CSR strategies. Originality/value The paper provides a fresh conceptual framework for explaining conditions and elements required for ensuring the success of strategies for CSR. Adopting a systems view, the paper overcomes the limitations related to a reductionist view about advantages and results of CSR to call the attention on the conditions that should be met for ensuring the emergence of a shared approach to CSR.

Rethink: corporate social responsibility at Si.mobil

2011 ◽  
Vol 1 (1) ◽  
pp. 1-18
Author(s):  
Dietmar Sternad
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Strategic Management ◽  
Subject Area ◽  
Company Performance ◽  
Content Type ◽  
Csr Strategies ◽  
The Individual ◽  
Corporate Social ◽  
Taking Care

Subject area Corporate social responsibility (CSR), marketing/branding, strategic management. Study level/applicability The case can be used in master, MBA and executive programs in courses on the following topics: CSR; strategic management; or strategic marketing. Case overview The case describes the CSR initiatives at the Slovenian mobile phone operator Si.mobil d.d., with the two pillars of taking care of employees and taking care of the environment. The main protagonists describe the process of initiating, developing and communicating the initiative, as well as the individual actions taken. In a strategy meeting, Si.mobil's top management set out to discuss the strategic challenges that the company was facing, trying to find ways out of the potentially deadly price war and commoditization spiral. Specifically, the discussion in the management meeting revolved around how Si.mobil can position itself in the market, how it can find a sustainable USP and whether and if yes, how the company's CSR initiatives can play a significant role therein. Expected learning outcomes To foster critical thinking about the reasons for and effectiveness of CSR initiatives; to be able to assess the role that CSR initiatives can play in brand building and differentiation; to understand how CSR affects company performance through its effect on and feedback reactions from different stakeholder groups; to critically discuss the preconditions for effective CSR initiatives, and to see exemplarily how they can be initiated and managed; to understand the crucial role that leadership and communication are playing in CSR initiatives; to identify the vital links between internally oriented (employee-focused) and externally oriented (societal-focus) CSR strategies and actions. Supplementary materials Teaching note

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