June 15, 2013

Success factors for CSR

Tare few elements lead to successful corporate social strategy which are value creation, centrality, appropriability, proactivity, voluntarism and visibility. Value creation means the activities need to worth something and benefit someone. Centrality takes into consideration of a specific social project is aligned with the firm's core business mission. Appropriability is the ability of a social initiative to extract and capture the value. Proactivity considers the ability of the firm to anticipate social trends through its initiatives. As Husted & Allen (2011) suggested proactive environment strategy involve anticipating future regulations and social trends which influence the designing or altering operations, processes and products to prevent negative environment impact. Voluntarism is the firm carry out social activities free of legal or social constraints. Visibility deals with the extent to which social action projects and their benefits are known by the stakeholders. The stakeholders has clearly established their good deeds and linked to value creation and competitive advantage through corporate reputation. This is difficult for other company to imitate.

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