Corporate Sustainability and Responsibility: Creating Value for Business, Society and the Environment
Camilleri, M.A. (2017). Corporate Sustainability and Responsibility: Creating Value for Business, Society and the Environment. Asian Journal of Sustainability and Social Responsibility
25 Pages Posted: 15 Sep 2017 Last revised: 15 Nov 2017
Date Written: 2017
Today’s corporations are increasingly implementing responsible behaviours as they pursue profit-making activities. A thorough literature review suggests that there is a link between corporate social responsibility (CSR) or corporate social performance (CSP) and financial performance. In addition, there are relevant theoretical underpinnings and empirical studies that have often used other concepts, including corporate citizenship, stakeholder management and business ethics. In this light, this contribution reports on how CSR is continuously evolving to reflect contemporary societal realities. At the same time, it critically analyses some of the latest value-based CSR constructs. This review paper puts forward a conceptual framework for corporate sustainability and responsibility. It suggests that responsible business practices create economic and societal value by re-aligning their corporate objectives with stakeholder management and environmental responsibility.
Keywords: business, strategy, corporate social responsibility, strategic CSR, corporate sustainability, creating shared value
JEL Classification: M1, M10, M14, M16
Suggested Citation: Suggested Citation