Creating shared value through strategic corporate social responsibility

Abstract

The Literature review about corporate social responsibility (CSR) suggests that there are organizational benefits to be gained from unintentional discretionary expenditure in laudable behavior. With this in mind, the methodology integrates insights from the stakeholder’s theory and the resource-based views to sharpen the strategic base for CSR investment. Quantitative research techniques have been used to discover how the hospitality business organizations are creating shared value for themselves and for society. Correlation and Regression analysis tested the relationship between Strategic CSR (in terms of the organizational benefits) against the firms’ commitment, behavior and resources devoted to CSR. From the findings a research a model is derived to determine the synergistic value creation for businesses and society.