Evaluation of Strategies to Improve the Corporate Social Responsibility Performance in Food and Pharmaceutical Industries: Empirical Evidence from Iran

Abstract

Since there is a lack of a strong CSR platform in the Iranian corporate environment, especially in the food and pharmaceutical industries, the proposed and existing strategies can be utilized to empower employees and the general public, improve executive processes, improve quality and customer satisfaction, and finally, organize financial and accounting reports. Hence, this study seeks to determine and evaluate strategies to improve the concepts and domain of corporate social responsibility (CSR) of food and pharmaceutical industries in Iran based on the requirements of sustainable development theory. This study analyzes the data of 22 companies active in the food and pharmaceutical industries listed on the Tehran Stock Exchange (TSE) over a period of six years (2014–2019). Eighty-three indicators were used to evaluate the performance of social responsibility based on economic, social and environmental dimensions. The Pareto approach has been used to determine the most important unmet current requirements. Then, using the Delphi method and content validity, appropriate strategies were determined. Finally, a correlation matrix was used to determine the most important and comprehensive strategies. Findings showed that 14 requirements in the field of corporate social responsibility are of great importance and with six strategies, the necessary measures to meet those requirements can be covered.

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