The fact is, the prevailing approaches to CSR are so
fragmented and so disconnected from business and strategy
as to obscure many of the greatest opportunities for
companies to benefit society. If, instead, corporations
were to analyze their prospects for social responsibility
using the same frameworks that guide their core business
choices, they would discover that CSR can be much
more than a cost, a constraint, or a charitable deed–it can
be a source of opportunity, innovation, and competitive
advantage.
In this article, we propose a new way to look at the relationship
between business and society that does not
treat corporate success and social welfare as a zero-sum
game. We introduce a framework companies can use to
identify all of the effects, both positive and negative, they
have on society; determine which ones to address; and
suggest effective ways to do so. When looked at strategically,
corporate social responsibility can become a source
of tremendous social progress, as the business applies
its considerable resources, expertise, and insights to activities
that benefit society.