- 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.
- SR have used four arguments to make their case: moral obligation, sustainability, license to operate, and reputation.
- Internally, CSR practices and initiatives are often isolated from operating units – and even separated from corporate philanthropy.
- It is through strategic CSR that the company will make the most significant social impact and reap the greatest business benefits.
- Strategic CSR. For any company, strategy must go be- yond best practices. It is about choosing a unique position – doing things differently from competitors in a way that lowers costs or better serves a particular set of customer needs. These principles apply to a company’s relationship to society as readily as to its relationship to its customers and rivals