Stakeholder Preferences for Particular Corporate Social Responsibility (CSR) Activities and Social Initiatives (SIs): CSR Initiatives to Assist Corporate Strategy in Emerging and Frontier Markets
“…Academicians and business circles have realized this concern as an opportunity to redefine their performance criteria in such a way to balance profit growth with societal and environmental considerations (Munro, 2013;Schwartz and Saiia, 2012). Corporate Social Initiatives (CSIs) are increasingly gaining ground for integrating societal and environmental concerns to core business values in order to form sustainable partnerships with the stakeholders.…”
Section: Introductionmentioning
confidence: 99%
“…Corporate Social Initiatives (CSIs) are increasingly gaining ground for integrating societal and environmental concerns to core business values in order to form sustainable partnerships with the stakeholders. Hence, social entrepreneurialism is on the rise to bring together innovative and entrepreneurial activities with social initiatives during the NPD cycle (Munro, 2013).…”
Participation of all relevant stakeholders to the New Product Development (NPD) process is an important issue for the democratization of the use of goods and services and promoting responsible research and innovation. Although participatory NPD is becoming a hot topic in recent years, most of the studies concentrate on the participation of users as individual entitiescustomers and neglect that production-consumption cycle is constituted as a network of stakeholders. Besides their role as customers, individuals play different social roles in their daily lives. Social roles are not determined according to some essential behavioural characteristics but emerge within a structure constituted as a network amalgamated according to a set of relations. Individuals can have different norms depending on their position in the network structures constituted according to different types of stakes. Organizing and coordinating stake based roles is a complex and fuzzy issue as these are constantly in making and involves "politics" in the sense of persuading other people to some form of action. In this paper, we have discussed the possibility of an integrative online platform built upon the principles of Web 2.0 revolution that would act as a "democratic assembly" for negotiating, coordinating and integrating the fuzzy cycles of the innovation process. Social media offers great opportunities for organizing and coordinating participatory NPD activities as they provide means for bringing large number of participants to form a virtual community within an electronic platform. Building upon these principles we have outlined some important challenges that can be important during the conceptualization of such a platform. Our conceptual framework can offer a guideline for future research with the aim of turning this concept into a product. This paper has some limitations which could be complemented with some empirical research on how actors experience these challenges in their everyday organizational context. Future work needs to be focused on discovering the concerns from the emic view points of the stakeholders.
“…Academicians and business circles have realized this concern as an opportunity to redefine their performance criteria in such a way to balance profit growth with societal and environmental considerations (Munro, 2013;Schwartz and Saiia, 2012). Corporate Social Initiatives (CSIs) are increasingly gaining ground for integrating societal and environmental concerns to core business values in order to form sustainable partnerships with the stakeholders.…”
Section: Introductionmentioning
confidence: 99%
“…Corporate Social Initiatives (CSIs) are increasingly gaining ground for integrating societal and environmental concerns to core business values in order to form sustainable partnerships with the stakeholders. Hence, social entrepreneurialism is on the rise to bring together innovative and entrepreneurial activities with social initiatives during the NPD cycle (Munro, 2013).…”
Participation of all relevant stakeholders to the New Product Development (NPD) process is an important issue for the democratization of the use of goods and services and promoting responsible research and innovation. Although participatory NPD is becoming a hot topic in recent years, most of the studies concentrate on the participation of users as individual entitiescustomers and neglect that production-consumption cycle is constituted as a network of stakeholders. Besides their role as customers, individuals play different social roles in their daily lives. Social roles are not determined according to some essential behavioural characteristics but emerge within a structure constituted as a network amalgamated according to a set of relations. Individuals can have different norms depending on their position in the network structures constituted according to different types of stakes. Organizing and coordinating stake based roles is a complex and fuzzy issue as these are constantly in making and involves "politics" in the sense of persuading other people to some form of action. In this paper, we have discussed the possibility of an integrative online platform built upon the principles of Web 2.0 revolution that would act as a "democratic assembly" for negotiating, coordinating and integrating the fuzzy cycles of the innovation process. Social media offers great opportunities for organizing and coordinating participatory NPD activities as they provide means for bringing large number of participants to form a virtual community within an electronic platform. Building upon these principles we have outlined some important challenges that can be important during the conceptualization of such a platform. Our conceptual framework can offer a guideline for future research with the aim of turning this concept into a product. This paper has some limitations which could be complemented with some empirical research on how actors experience these challenges in their everyday organizational context. Future work needs to be focused on discovering the concerns from the emic view points of the stakeholders.
“…For example, authors note: What's more, some of the leading management and marketing academics agree that companies should advance their social benefits to improve public perception, public credibility and image (Porter & Kramer, ). (Munro, , p. 75)Popular management concepts such as “shared value” (Porter & Kramer, ), “inclusive growth” (George, McGahan, & Prabhu, ), and “base of the pyramid” (BoP) markets (Prahalad & Hart, ) reflect this potential and associate a range of organizational activities with PSC (positive social change). […] Management research on these phenomena is on the rise but remains fragmented.…”
This article examines the concept of creating shared value (CSV) as articulated by Michael Porter and Mark Kramer, in non-Western and Western contexts. We define non-Western contexts as those in so-called "developing" countries and emerging economies, whereas Western ones pertain to dominant thinking in "developed" regions. We frame our research in postcolonial theory and offer an overview of existing critiques of CSV. We conduct a critical discourse analysis of 66 articles to identify how CSV is being cited by authors, and potential underlying power dynamics that affect its relevance for non-Western contexts. Our review exposes increasingly critical views about the paradoxical positioning of CSV as an instrumental concept that can offer "win-win" solutions, particularly from those working in non-Western settings. Western perspectives generally tend to be more supportive of its instrumental nature, but also recognize the increasing complexity of the business-society nexus and stakeholder engagement. We argue that the CSV framework requires further development to maintain credibility and applicability, especially in non-Western domains.
“…Author(s) agree that this article remain permanently open access under the terms of the Creative Commons Attribution License 4.0 International License terms of CSR and its antecedents (Gruber and Schlegelmilch, 2015;Kühn et al, 2018;Munro, 2013). In the meantime, the open question still seems to be: "does CSR lead to value creation and, if so, in what ways?"…”
The relationship between sustainable practices and a firm's financial performance is an open debate among academics, managers and investors worldwide. Despite large literature in the field of corporate social responsibility (CSR) and corporate financial performance (CFP), there is still a lack of unanimous consensus around the impact of sustainability on a firm's economic achievements. This study aims to analyse this relationship and fill some of the gaps within existing literature using two geographical samples, a European and a global one, proceeding to compare obtained results. Such analysis was performed employing an ex ante implied proxy for the cost of equity, which has been selected in order to overcome methodological weaknesses of previous studies. Results show that sustainability can reduce the cost of equity due to lower firm riskiness, as perceived by markets and investors. Geographical specificities, on the other hand, do not play a significant role. CSR practices have the potential to create a type of goodwill or moral capital for more sustainable firms that acts as protection when negative events occur, preserving shareholder value and reducing the firms' cost of equity.
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