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The Big Idea: Creating Shared Value. How to Reinvent Capitalism—and Unleash a Wave of Innovation and Growth
Abstract
The concept of shared value—which focuses on the connections between societal and economic progress—has the power to unleash the next wave of global growth. An increasing number of companies known for their hard-nosed approach to business—such as Google, IBM, Intel, Johnson & Johnson, Nestlé, Unilever, and Wal-Mart—have begun to embark on important shared value initiatives. But our understanding of the potential of shared value is just beginning. There are three key ways that companies can create shared value opportunities: By reconceiving products and markets • By redefining productivity in the value chain • By enabling local cluster development • Every firm should look at decisions and opportunities through the lens of shared value. This will lead to new approaches that generate greater innovation and growth for companies—and also greater benefits for society. The capitalist system is under siege. In recent years business increasingly has been viewed as a major cause of social, environmental, and economic problems. Companies are widely perceived to be prospering at the expense of the broader community. Even worse, the more business has begun to embrace corporate responsibility, the more it has been blamed for society's failures. The legitimacy of business has fallen to levels not seen in recent history. This diminished trust in business leads political leaders to set policies that undermine competitiveness and sap economic growth. Business is caught in a vicious circle. A big part of the problem lies with companies themselves, which remain trapped in an outdated approach to value creation that has emerged over the past few decades. They continue to view value creation narrowly, optimizing short-term financial performance in a bubble while missing the most important customer needs and ignoring the broader influences that determine their longer-term success. How else could companies overlook the well-being of their customers, the depletion of natural resources vital to their businesses, the viability of key suppliers, or the economic distress of the communities in which they produce and sell? How else could companies think that simply shifting activities to locations with ever lower wages was a sustainable "solution" to competitive challenges? Government and civil society have often exacerbated the problem by attempting to address social weaknesses at the expense of business. The presumed trade-offs between economic efficiency and social progress have been institutionalized in decades of policy choices.
... Creating is an operational policy that increases the competitive value and performance of the company and simultaneously advances economic, social and environmental conditions [4]. Creating Shared Value can be integrated in various ways based on the unique framework of business-society relations [3]. ...
... The following are some of the main features of the 6. Measurement and reporting: Develop transparent metrics and indicators to measure and report the company's social, environmental, and economic impacts to stakeholders [4]. ...
... Creating Shared Value (CSV) is adopted by companies to make sustainable management possible and solve social problems [20]. CSV is concerned with generating economic value in a way that creates value for society by overcoming its challenges [4]. ...
This article presents a comprehensive exploration, rooted in a literature review, aiming to elucidate the nexus between Creating Shared Value (CSV) and the determinants of sustainable business performance. In the contemporary business landscape, environmental sustainability has evolved beyond a moral responsibility and become a strategic business opportunity for modern companies. The methodology employed in this study involves conducting an extensive literature review. Through the analysis of existing literature, the research synthesizes insights into the relationship between CSV and sustainable business performance. The focus is on theoretical exploration, elucidating the connections between green entrepreneurial orientation, green innovation, and green marketing strategies in the context of sustainable business practices. The literature review reveals that environmental sustainability significantly shapes contemporary business strategies. The emergence of CSV as a business strategy underscores the integration of corporate success with positive contributions to society and the environment. The synthesized results highlight the theoretical relationships between green entrepreneurial orientation, green innovation, and green marketing strategies with sustainable business performance. Building upon the results, the discussion interprets the implications of the identified relationships and their significance in the realm of sustainable business strategies. This article enriches the academic literature by providing a conceptual framework for understanding sustainable business strategies. Additionally, the findings offer practical support for businesses in formulating sustainable strategies, guidance on integrating green innovation, and serve as a valuable reference for policymakers. Keywords: creating shared value, green entrepreneurial orientation, green innovation, green marketing strategies, sustainable business performance
... CSR is the term for a company's voluntarily assumed moral, social, and environmental obligations above and beyond the law. CSR has developed into a strategic instrument that businesses use to manage risks, improve their brand, and provide shared value [64]. CSR endeavors include a wide range of activities, such as ethical cor- porate governance, sustainable practices, philanthropy, and stakeholder involvement [65]. ...
... CSR is the term for a company's voluntarily assumed moral, social, and environmental obligations above and beyond the law. CSR has developed into a strategic instrument that businesses use to manage risks, improve their brand, and provide shared value [64]. CSR endeavors include a wide range of activities, such as ethical corporate governance, sustainable practices, philanthropy, and stakeholder involvement [65]. ...
... Businesses can better match their development strategies with more expansive social and environmental aims by putting CSR principles into effect early on. According to Porter and Kramer [64], businesses can use CSR to generate shared value if they incorporate social and environmental issues into their main business plans. This strategy addresses societal challenges, encourages innovation, and builds trust in addition to promoting financial success. ...
Abstract: This research highlights the critical role that entrepreneurial capital (EC) plays in organiza-tional development and resilience by examining the connections between EC and the success of newjoint ventures (NJVs) in developing nations. Corporate social responsibility (CSR) is becoming morepopular in the early phases of a company’s growth because of its capacity to improve credibility andcompetitive differentiation. Traditionally associated with well-established corporations. This studyuses a mediated-moderation model to explore theories on how EC affects the disruptive innovation,economic, social, legal, and environmental sustainability of NJVs. Using quantitative survey datafrom 270 NJVs, this paper highlights the strategic interdependencies influencing NJV trajectories, aswell as the functions of disruptive innovation and CSR. The findings demonstrate that EC greatlyenhances NJVs performance in every category, promoting CSR and innovative projects. NJVs benefitfrom early CSR participation because it reduces risks and boosts entrepreneurial vitality. Disruptiveinnovation transforms EC into measurable performance advantages. This study has important policyand management implications because it shows that NJVs can stay ahead of the competition andimprove their performance by strategically using EC for CSR and innovation projects. Overall, thisstudy emphasizes how crucial CSR is to the startup environment, supporting resilient and long-termgrowth in emerging economies.
Keywords: entrepreneur capital; CSR; disruptive innovation performance; financial performance;new joint venture firm performance
... Proponents of edu-business have relied primarily on management studies for their theoretical foundations. Theoretical frameworks such as the base of the pyramid (Prahalad & Hart, 1999) and shared value creation (Porter & Kramer, 2011) have laid the groundwork for research on corporate engagement in educational development, including low-fee private schools (Tooley & Dixon, 2005). These frameworks assume that social and market values can be reconciled and that the market can effectively achieve socially desirable outcomes (Porter & Kramer, 2011), including democratic participation and equal educational opportunities (Tooley, 2016). ...
... Theoretical frameworks such as the base of the pyramid (Prahalad & Hart, 1999) and shared value creation (Porter & Kramer, 2011) have laid the groundwork for research on corporate engagement in educational development, including low-fee private schools (Tooley & Dixon, 2005). These frameworks assume that social and market values can be reconciled and that the market can effectively achieve socially desirable outcomes (Porter & Kramer, 2011), including democratic participation and equal educational opportunities (Tooley, 2016). Tooley and Dixon (2006) argued that privatisation is not always a top-down approach (e.g. a government-led "denationalisation" of specific industries). ...
Purpose
This study aims to understand the mechanisms driving individuals to utilise and engage in edu-business and contribute to the industry’s development, even when they face criticism. To that end, this paper, focussing on corporate stories, explores the cultural strategies education companies employ to expand their businesses overseas.
Design/methodology/approach
This paper examines the case study of Kumon Institute of Education, a key player in the Japanese edu-business sector. The analysis is based on interviews conducted between 2019 and 2021 with four public relations officers who possess extensive knowledge of the company’s history. Additionally, it draws on government and company documents, as well as newspaper articles. The analysis focusses on the narrative isomorphism between the company and the government from the provider’s perspective.
Findings
Kumon’s corporate stories and narratives have been shaped by the history, culture and policies of Japan, its country of origin, rather than adopting a bottom-up approach or embracing neoliberal values. As the company expanded its international reach, its Japanese identity became a cornerstone of its narrative, heightening the appeal of its stories through the use of expert discourse and historic cultural resources. Recently, a synergy has developed between the public and private sectors in the realm of education export, reinforcing the distinctly Japanese nature of the company, which is particularly appealing to both users and employees.
Originality/value
This paper focusses on the edu-business itself, analysing cultural strategies that go beyond the functional aspects of management or services to understand how edu-businesses have attracted people.
... Le concept de responsabilité sociale et environnementale (RSE) est un vaste champ qui a émergé pour étudier les pratiques économiques, légales, éthiques et philanthropiques (Carroll, 1991), mises en oeuvre par les entreprises pour créer de la valeur pour leurs parties-prenantes (Freeman, 1984), et plus largement pour la société (Porter et Kramer, 2011). A l'exception de quelques contributions (Tiba et al., 2018), le cas des startups reste largement ignoré dans cette littérature, puisque la majorité des articles concernent les pratiques des grandes entreprises (Retolaza et al., 2009). ...
... The concept of sustainable entrepreneurship is often related to corporate social responsibility (CSR), which implies actions to achieve social and environmental outcomes beyond the core interest of the firm (Hansen and Schaltegger, 2013;Choi and Gray, 2008). A responsible company should follow four major pillars of economic, legal, ethical and philanthropic principles (Carroll, 1991), to create value for its stakeholders (Freeman, 1984) and for society (Porter and Kramer, 2011). By integrating other considerations, aside from profit maximization, such businesses are "doing well by doing good" (Kraus et al., 2022;Waddock and Smith, 2002). ...
Traditionally known for their contribution to innovation and the economy, startups are now considered promising organizations for addressing social and environmental issues. However, turning to startups is not straightforward. Not only does such an expectation add to the already challenging task of launching a startup, but the contribution of startups to sustainability is difficult to determine due to the uncertainty that characterizes them. Therefore, the aim of this research is to explore how startups tackle sustainability given the significant uncertainty.
While the literature has extensively explored the practices of large companies, little information is available for smaller ones. According to the literature, they not only face less pressure from stakeholders but also seem to perceive fewer benefits in engaging in sustainable development. The field of sustainable entrepreneurship has begun to fill this gap, but the specific case of startups remains largely overlooked. Providing such knowledge is crucial not only for startups but also for their stakeholders and decision-makers who currently lack information on what to expect from startups in terms of social and environmental impact. So far, research has demonstrated the complexity of the subject and suggested frameworks for assessing their contribution to sustainability. However, startups’ perspective is lacking, especially on how they tackle in the absence of shared norms and practices in the entrepreneurial ecosystem.
Given the novelty and complexity of the phenomenon, an exploratory approach was favored. A 36-month action research in an incubator of young innovative startups allowed the collection of various types of data, including direct observations, interviews, and archival documents. Instead of aiming for generalization, this qualitative and comprehensive approach seeks to reveal the practices, challenges, and trade-offs of the actors to better understand the mechanisms at play and how actions are taken. The research drew inspiration from issues met on the field, following an abductive process where surprises led to the identification of sub-research questions.
The results are articulated around three research articles, highlighting different aspects of the phenomenon. Sustainability for startups is seen as part of the entrepreneurial process (1), as embedded into an entrepreneurial ecosystem (2), and as a new requirement demanded by public actors (3). The immersive framework revealed that actors acted in favor of sustainability based on the meaning they attributed to this still abstract concept, and that this meaning continually evolved through an interactive and interpretative process. Such a symbolic interactionist perspective enriches the literature by proposing an original approach to describing the management of uncertainty in a complex problem.
By combining the results of the three research articles, the thesis focused on an entrepreneurial ecosystem in transition and suggested a new definition for sustainable startups. In line with the collective and contextual approach, the research mobilized the concept of improvisation to emphasize that sustainability for startups is not a static object, leading startups to consider their changing environment. The processual approach contributed to both the literature on sustainable entrepreneurship and the emerging field of research on evaluating the impact of sustainability for startups. Practical recommendations for startups and decision-makers were also provided.
... In today's rapidly changing and complex organizational landscape, the need to address the multifaceted challenges posed by environmental, economic, and social factors has elevated the significance of sustainable leadership, organizational resilience and environmental performance. The increasing pressure from stakeholders for environmentally responsible practices [1,2] and the need for long-term organizational sustainability [3] have elevated the significance of these Supplementary Information The online version contains supplementary material available at https:// doi. org/ 10. 1007/ s43621-024-00422-z. ...
... Sustainable leadership theory, renowned for its emphasis on ethical conduct, long-term vision, and holistic growth, was pivotal in shaping our hypotheses. The supported hypotheses [1][2][3][4][5] align seamlessly with the tenets of Sustainable leadership theory. Our findings underscore the positive relationships between sustainable leadership and environmental performance, employees' well-being, and employee innovation. ...
This study investigates the effect of sustainable leadership on environmental performance, specifically examining how employee well-being and innovation mediate this relationship, and how organizational resilience moderates this relationship within the information technology sector in Denmark. Utilizing a cross-sectional design and drawing on sustainable leadership theory and social exchange theory, the research employed PLS-SEM analysis. Hypotheses were tested, exploring the variables’ direct, moderated and mediated relationships. The results support all hypotheses, revealing positive relationships between sustainable leadership and environmental performance, employee well-being, and innovation. Furthermore, employee well-being and innovation mediate the relationship between sustainable leadership and environmental performance. Organizational resilience moderates the association between sustainable leadership and environmental performance. This research offers valuable insights into the dynamics of sustainable leadership in the IT sector, emphasizing its positive impact on environmental performance and organizational outcomes. The study suggests practical implications for leaders and identifies avenues for future research. This study extends the understanding of sustainable leadership by empirically examining its multifaceted impact in the specific context of Denmark’s information technology sector. Incorporating both sustainable leadership theory and social exchange theory enriches the theoretical framework, contributing to the originality of the research.
... the concept of value creation has played a crucial role in the advancement of various fields of management research (Farooq, 2017;howell et al., 2018;Karakulak & Faul, 2023;lepak et al., 2007;lindman et al., 2016;Porter & Kramer, 2011;Yousaf et al., 2022). in the past, value creation was primarily focused on companies' financial value (Karakulak & Faul, 2023). however, there is now a growing demand from businesses, stakeholders, and society as a whole to expand the conceptualization of a firm's impact to include environmental, social, and governance factors (Karakulak & Faul, 2023;lepak et al., 2007). ...
... however, there is now a growing demand from businesses, stakeholders, and society as a whole to expand the conceptualization of a firm's impact to include environmental, social, and governance factors (Karakulak & Faul, 2023;lepak et al., 2007). Porter and Kramer (2011) argue that enhancing corporate competitiveness necessitates recognising and enlarging the interdependencies between economic and societal progress. the study has adopted a broader understanding of value creation, as proposed by Prahalad and hart (2002). ...
This study proposes mechanisms for firms to thrive in a turbulent business environment by investigating the mediating role of frugal innovation in the relationship between competitive intelligence and value creation. The study also examined absorptive capacity as a critical boundary condition that influences the impact of competitive intelligence on frugal innovation. A survey questionnaire was administered to 302 SMEs, and the data were analysed using Amos. Structural equation modelling (SEM) was employed to test the hypothesis. The findings demonstrate a significant positive impact of competitive intelligence on SME value creation. The study also found that frugal innovation acts as a mechanism to amplify the impact of competitive intelligence on value creation, and this relationship is anchored by a high level of absorptive capacity. The study demonstrates how competitive intelligence and frugal innovation synergistically drive value creation amid turbulence under the auspices of absorptive capacity, thereby increasing SMEs’ resilience and competitiveness. The study sheds light on previously unexplored aspects of value creation in a turbulent business environment, offering novel perspectives on dynamic capabilities.
... CSV is distinguished from CSR in that social, environmental, and economic value are created simultaneously during the company's main activities (Porter and Kramer 2011). It is attractive because social value is created simultaneously while a company pursues economic profit by utilizing its core capabilities (Aakhus and Bzdak 2012;Jin 2018). ...
... Because CSR activities had limitations in terms of scale and effectiveness, CSV activities, which seek to simultaneously create economic and social value by utilizing a company's core capabilities, received new attention (Wojcik 2016). Compared to CSR, which generally makes social contributions based on economic results obtained through profit-seeking activities, CSV allows companies to naturally create both economic and social value during their main business activities (Porter and Kramer 2011). ...
Authenticity is a decisive factor affecting customers’ judgment of corporate image from a firm’s activities. While much research has been done on authenticity, there is limited understanding regarding creating shared value (CSV) activities of sports firms. Thus, based on attribution theory, this study investigates the role of authenticity in the effect of sports firms’ CSV activities on corporate image and customer loyalty. The results showed that authenticity played an important role in moderating the impact of CSV activities. These results imply that it is important to consider authenticity when establishing CSV strategies, since the performance is largely determined by authenticity.
... In today's business environment, sustainability and corporate social responsibility (CSR) have evolved from peripheral concerns to central pillars of corporate strategy and public image (Beers et al., 2010;Porter & Kramer, 2011). Companies are no longer evaluated solely on financial performance but are increasingly held accountable for their social and environmental contributions (Barauskaite & Streimikiene, 2020;Epstein & Roy, 2003). ...
Objective: The objective of this study is to conduct a comprehensive bibliometric analysis of greenwashing research from 1995 to 2024, with the aim of understanding the evolution, key themes, and influential contributors in the field.
Theoretical Framework: This study uses social network theory and Lotka’s Law to identify key contributors and collaboration patterns in greenwashing research, highlighting influential authors and the concentration of productivity in the field.
Method: Scopus was selected as the database for data collection, and data was gathered through systematic searches. The method employed is bibliometric analysis, focusing on performance analysis and science mapping with metrics such as total citations, citations per year, and author dominance. The analysis also explored trends, key contributors, collaboration networks, and etc.
Results: The results reveal significant growth in greenwashing research since 2010, with the USA and China identified as major research hubs. Two primary research clusters were identified: corporate sustainability and consumer marketing. The analysis also identified key authors, influential journals, the most impactful articles, collaboration patterns, and changes in research focus over time.
Research Implications: The practical and theoretical implications of this research include insights into how greenwashing practices impact corporate reputation, consumer trust, and regulatory frameworks. These implications are relevant for policymakers, researchers, and practitioners aiming to foster transparency and accountability in sustainability efforts.
Originality/Value: This study contributes to the literature by providing an in-depth bibliometric analysis that identifies influential contributors, emerging trends, and collaboration patterns in greenwashing research. The relevance of this study is demonstrated by its potential to guide future research and inform policy on addressing deceptive sustainability practices.
... CSR may be less related to maximizing shareholder profits or pursuing profits if charitable activities that are not related to the company's original business become dominant due to corporate discretion or external demands, such as those from the government or civic groups. On the other hand, CSV can maximize shareholder profits, pursue profits, strengthen corporate competitiveness, and create values for the company, society, and community through management activities such as production, distribution, and sales [21,22]. Since Porter and Kramer introduced the concept of CSV in 2011, many companies have actively introduced CSV into their management. ...
While the trend of de-religiousization has accelerated globally, Korean Buddhism has become very hip around the world. While it was traditionally known as a symbol of a solemn and old religion, with its innovative transformation, Korean Buddhism has gained wide popularity in friendly and trendy atmospheres, especially among people in their 20s and 30s in Korea and abroad, regardless of religion. Thus, Korean Buddhism has a cultural affinity beyond religion, nationality, age, and gender. At the center of this popularization of Buddhism, there exists “Templestay”. Templestay is defined as staying in a Korean temple and experiencing traditional Korean culture, the spirit of Buddhist practice, the natural environment, and the daily life of temples. Templestay was selected as one of the world’s top five most successfully developed tourism and cultural resources by the Organization for Economic Cooperation and Development (OECD), and one of the top 10 icons representing Korea according to the Republic of Korea’s Presidential Council on Nation Branding. Thus, Templestay is not just a Buddhist cultural experience but has been officially recognized as a sustainable global cultural product representing Korea with a history of 1700 years, where a global cultural product is defined as a cultural product that is shared on a global level. Considering Templestay’s wide global popularity, as well as its significant impact on the national economy, tourism, and cultural succession, with over 7 million participants, it is important to investigate Templestay from the perspective of sustainable management, such as CSR, CSV, and ESG. However, while a few studies exist on Templestay, the theoretical aspects of Templestay as a subject of sustainable management have not been sufficiently developed, since most research on Templestay has focused on the perspectives of religion or visitor experiences. Thus, by focusing on Manggyeongsansa Templestay, which was selected as one of the best Korean temples among the 150 temples offering Templestay in 2023, the findings from this case study provide significant implications and practical guidelines for the sustainable management of global cultural products to address fundamental issues from an angle that has not been covered sufficiently.
... The first relates to the evolutionary nature of the relationships among stakeholders that can transit from a philanthropic or transactional stage to a more transformational phase through a 'collaboration continuum' [43]. The second expands upon the notion of shared value [46] by exploring the co-creation of diverse types and sources of value, e.g., associational value (higher visibility, public awareness or reputation), transferred value (complementary resources and support, competitiveness), interaction value (trust, opportunities for learning, relational capital), and synergistic value (innovation, internal change, distributed leadership, influence) [47]. Some of the indicators that help to determine the position and evolution of a partnership in the collaboration continuum include organizational engagement (level of engagement and importance to mission); resources and activities (type and magnitude of resources, scope of activities, managerial resources); partnership dynamics (interaction, trust and internal change); and impact (co-creation of value, innovation and external system change). ...
In the fields of partnership research and social innovation, there has been an increasing number of calls for evidence regarding the kind of collaborative multi-level governance structures that might support large-scale transformation processes, especially in regard to climate-neutral cities. This paper conceptualizes a new type of intermediary actor, the Systemic Collaborative Platform (SCP). Using the example of a multi-stakeholder arrangement set up to design and implement Madrid’s Climate Neutrality Roadmap, the key features of an SCP include a focus on multi-stakeholder and cross-sectoral collaboration for public policy development, in this case operating at both a systemic level and a city scale, and a strong link to a key actor within this regime (a city council). Our study reveals how an SCP can contribute to articulation of a shared mandate among city actors and enhance the efficiency and effectiveness of a targeted transition by attracting, aligning and managing a wide and diverse organizational ecosystem through distributed facilitation, collaborative leadership, and continuous learning.
... Overall, ESG factors are becoming increasingly important in corporate management. Environmental sustainability, social responsibility and effective governance not only enhance a company's reputation and brand value, but also reduce business risks, attract investors and consumers, and thus stand out from the competition in the marketplace [4]. The importance of ESG will continue to rise as the global focus on sustainability increases. ...
This essay opens with an in-depth discussion of the growing importance of ESG concepts in modern corporate management and highlights their significant role in promoting long-term corporate value creation. With the increasing global focus on sustainability, ESG concepts have become an integral part of corporate strategic planning and operational decision-making. Next, this article selects the global retail giant Walmart as a case study and uses SWOT analysis and other management tools to analyse in detail how Walmart has effectively constructed and consolidated its competitive advantages in the highly competitive market through the implementation of an active ESG strategy. The article specifically describes Walmart's practices on several ESG dimensions, including but not limited to the implementation of environmental protection measures, active support to the community, the enhancement of employee welfare, and the optimisation of corporate governance structure. In terms of environmental protection, Walmart has significantly reduced the environmental impact of its operations through measures such as reducing carbon emissions, improving energy efficiency and promoting sustainable products. In terms of community support, the company has strengthened its ties with local communities and enhanced its brand image through various community programmes and charitable activities. Employee well-being has been achieved through improved working conditions and career development opportunities, which have not only increased employee satisfaction but also enhanced the company's attractiveness. The article concludes by summarising the important contribution of Walmart's ESG practices to the company's sustainability and long-term competitive advantage and suggests possible future strategic directions and recommendations for Walmart in ESG based on current market trends and company performance. These recommendations are intended to provide valuable references and insights for Walmart and other companies in their future strategic planning and decision-making processes, especially in terms of how to balance economic efficiency and social responsibility to achieve long-term sustainable development. However, due to the limitation of data and the depth of research on Walmart ESG, the article still has limitations.
... Bush (2019) notes that this approach has become the predominant conceptualisation of Sustainable HRM, suggesting a shift towards a holistic understanding of HRM's role in promoting sustainability. It extends the traditional focus on economic performance to include environmental stewardship and social equity, thereby redefining organisational success in terms of "people, profits, and planet" (Porter, Kramer, 2011). However, embracing such a multi-dimensional perspective can introduce complexities, including potential tensions between economic, social, and environmental objectives (Ehnert, 2009(Ehnert, , 2014Bush, 2019). ...
This paper explores the effectiveness of the Shortened Working Week (SWW) as a mechanism for advancing Sustainable Human Resource Management (SHRM). It begins by reviewing various SWW models implemented in pilot studies across the UK, Sweden, Japan, and the US. Next, the paper employs the Triple Bottom Line theoretical framework to assess the impact of SWW on SHRM. Furthermore, it presents empirical data from a survey of 1,000 white-collar employees in Polish organisations, examining their attitudes towards SWW. The findings suggest that a reduction in work hours can positively influence the social, economic, and environmental pillars of SHRM. Considering the varied preferences for SWW based on factors such as gender, family status, and company size, the paper recommends that managers consider flexible scheduling alternatives to the conventional Free Fridays model.
... Examples of circular business models that can be implemented in the heritage sector are related to social and cooperative enterprise models, with the simultaneous reduction of costs through circularization of processes and creation of social, cultural, and economic value (Dalberg Global Development Advisors 2014). Social entrepreneurship is particularly linked to circular economy business models as they share "mission-driven" organisational forms (Porter and Kramer 2011). As highlighted by Sacco and Teti (2017), 8 dimensions can be identified in which cultural value is produced through cultural, creative and heritage-related business activities: ...
Cultural heritage is recognized as a powerful driver of sustainable development in cities and regions. The adaptive reuse and regeneration of cultural and natural heritage can become a driver of jobs creation, as demonstrated by many experiences. At the same time, cultural heritage adaptive reuse can involve communities in innovative and unexpected ways, generating multiple positive impacts in the territories and boosting a more sustainable, resilient, and equitable development model to finally create cities of opportunities connecting culture and innovation. This chapter aims to share the experience of the Horizon 2020 CLIC project in developing innovative circular business models for cultural heritage adaptive reuse, through the selection and training of start-ups during the entrepreneurial event of the CLIC Startup Competition in 2020 and subsequent mentoring programme. The chapter presents virtuous case studies as examples of successful social entrepreneurship and circular business model of heritage reuse and regeneration. A critical reflection on the role of social entrepreneurship and innovative business models for circular cultural heritage adaptive reuse is provided based on the experience of the project.
... New adaptive circular business models, first of all, have to recognize this key mistake. Profit achieved damaging the commons (represented by natural ecosystem that supports human activities) should not still included (Porter and Kramer 2011). ...
The Horizon 2020 call SC5-22-2017 required to identify “innovative financing, business and governance models for adaptive re-use of cultural heritage ”. Four kinds of cultural heritage assets were considered in the call: dismissed religious heritage, abandoned industrial buildings, farm buildings no longer used for agriculture and cultural landscape. Some specific outcomes of the CLIC research in reacting to the above issues and also some very general Recommendations are proposed.
... Furthermore, if the SVC-SE tool is used repeatedly over time, it could be used to track the internal and external impact of the social enterprise over the three aspects of SVC. Unlike the creation of shared value of Porter and Kramer (2011) and the concept of cocreation of Powell et al. (2018), the SVC-SE assessment tool clearly articulates the environmental aspect as important to value creation. The tool will help SEs in their planning stage by showing them where the gaps are or where they score low in their sustainable value creation (Yturzaeta, 2020). ...
... Nearly half of the scholars cited in this review work in the area of Corporate sustainability strategy. The most commonly cited scholars in the Corporate sustainability strategy literature include Porter and Kramer (2011), who introduced the "creating shared value" concept; Elkington (1998), who introduced the "triplebottom-line" framework; and Prahalad and Hart (1999) of the "bottom of the pyramid" concept. The focus of the corporate sustainability strategy research stream is on corporate decision-making. ...
... Similarly, Bhardwaj and Srivastava (2024) contend that hybrid ventures often need to involve beneficiaries or other stakeholders to access necessary assets as they tend to operate in resource-constrained contexts. According to some studies, a venture does not only need to be able to manage stakeholders but also to collaborate with them (Porter and Kramer 2011;Tate and Bals 2018) and monitor them for the achievement of social goals (e.g., Klassen and Vereecke 2012). Marketing capabilities, such as distribution and brand management, traditionally considered relevant for conventional firms, have also been noted as valuable for hybrid ventures (e.g., Tate and Bals 2018). ...
... Lastly, the most important factor for a startup is its economic line, an essential determinant [36]. The achievement of corporate finance success is critical for a company's continued viability and growth, as it is essential to maintain a stable income that does not exceed expenses [37]. ...
To date, deep-tech entrepreneurship and sustainable entrepreneurship are both attracting the interest of researchers. Indeed, deep-tech is being employed to address future sustainable challenges in the present. Nevertheless, the process of deep-tech startups is filled with distinct obstacles. These types of startups may necessitate a more targeted sustainable entrepreneurial process and specialised knowledge compared to conventional technological startups or general sustainable entrepreneurial processes. Currently, most publications discuss either a sustainable entrepreneurial process or conventional technical startups. Therefore, this article aims to investigate the process of sustainable entrepreneurs as they transition from startup ventures to scaleup enterprises within the context of the deep-tech industry. Based on previous sustainable entrepreneurial processes, a multiple case study was conducted within six deep-tech startups, using a narrative progress research strategy, to find the sustainable process pattern. A conceptual model of a sustainable entrepreneurial process in deep-tech industry is established, including five phases with six activities: (i) Sustainable idea definition; (ii) Sustainable opportunity recognition and evaluation; (iii) Venture launch; (iv.i) Sustainable products/services development; (iv.ii) New sustainable enterprise financing; and (v) Sustainable enterprise scaleup. This process enables sustainable deep-tech entrepreneurs, policymakers, and financial investors to necessarily have an overview of the key entrepreneurial stages to navigate from the startup to the scaleup process.
... 22 This is manifested principally in a company's production, product sales, provision of products and services to society, addressing employment issues, optimizing social resource allocation, as well as donations to socially disadvantaged groups or organizations in need. 23,24 Thus, as a derivative model of value cocreation, corporate social value cocreation differs significantly from another model in value cocreation-economic value cocreation. 25 The former focuses more on fulfilling social responsibilities, creating social value, and enhancing social development overall, while the latter concentrates on profit-oriented business development and improving competitiveness. ...
In the context of the digital economy era, it is urgent for Chinese state-owned enterprises (SOEs) to engage in social value cocreation activities. The government and consumers’ roles in SOEs’ social value cocreation system cannot be ignored. Therefore, it is necessary to explore the tripartite social value cocreation model involving the government, SOEs, and consumers. In this respect, this study constructs a tripartite evolutionary game model of the government, SOEs, and consumers, and explores the influencing factors and evolutionary mechanism of the system overall. Matlab software is used to analyze the simulation data. The results reveal that the prerequisite for SOEs’ successful social value cocreation is that consumers receive additional social value benefits greater than the level of improvement in social welfare. The allocation coefficient of consumers’ additional social value benefits, the degree of the government's digital empowerment subsidy, and the level of the punishment for SOEs that violate the government's cocreation requirements will accelerate the achievement of equilibrium in the social value cocreation system, without affecting the final equilibrium result. By analyzing the strategic choices and interactive relationships among the government, SOEs, and consumers in social value cocreation in-depth, this study offers suggestions to promote the government, SOEs, and consumers’ participation in social value cocreation. This research contributes to clarifying SOEs’ social value cocreation model and has significant implications for promoting enterprises’ high-quality development.
... In my previous paper (Reisinger 2023a) I suggested dividing this approach into two parts. The first three levels are more related to the responsible operation of firms (daily business operation), whilst the fourth one means activities that are directly in favor of society; companies understand their social environment and react to social problems (Porter-Kramer 2011). ...
The paper aims to introduce the milestones in the EU regulation on corporate social responsibility (CSR) in general with a special focus on small- and medium-sized enterprises (SMEs). EU regulation is introduced based on EU documents and international and Hungarian literature. The debate about CSR began in the 1990s in Europe and after the turn of the millennium several papers, guidelines, and directives attempt to provide a common approach about it. However, CSR relates mainly to big companies still today, smallerfirms can also implement CSR. Despite that research on SMEs’ CSR started after 2000, EU documents already highlighted from the beginning of the 2000s the importance of smaller companies as well, and in 2002 the European Commission drew up a strategy for SMEs. The paper illustrates not only the papers and SMEs’ role but also provides ideas about the sense of the EU regulation on CSR and collects the reasons why couldit be beneficial to have a debate and approach about CSR at the EU level. The paper also presents some information about how the SMEs’ CSR features comply with interview research among SMEs in Győr, Hungary in 2021–2022. It is possible to believe that learning the European approach may contribute to thinking in a more integrated way about how to behave socially responsibly and how to manage social impact.
... In business management, the rationales of diverse strategies for supplier collaboration are studied from the perspective of assuring value creation and business success [17,18]. In these disciplines, strategies for assuring environmental and social responsibility throughout the value chain are usually not explicitly addressed [14]. ...
... In business management, the rationales of diverse strategies for supplier collaboration are studied from the perspective of assuring value creation and business success [17,18]. In these disciplines, strategies for assuring environmental and social responsibility throughout the value chain are usually not explicitly addressed [14]. ...
The manuscript delves into the intricacies of food production chains, offering a comprehensive breakdown of their components. Moreover, it sheds light on the initiatives orchestrated by government agencies to endorse sustainable practices and fortify areas of opportunity for producer organizations, government entities, and brokers. While the context paints a broad picture, we contend that, to the best of our knowledge, there exists no comparable publication that succinctly encapsulates the role of the government in bolstering food production chains. The document unfolds with a detailed exploration of the interaction mechanisms among the various components of the chain. Subsequently, it introduces a set of components meticulously outlining the multi-faceted role of the government. Each element undergoes thorough scrutiny, fostering a nuanced understanding of the intricate relationship between the food production chain and the government's pivotal role in enhancing stability and efficiency. In conclusion, the manuscript not only lays bare the structural elements of food production chains but also presents a unique and in-depth analysis of the government's role, encapsulated within the framework of essential elements. Affiliation:
... Within the context of the digital economy, digital transformation is seen as a pivotal strategy for companies to enhance their ESG performance. Existing research has examined the impact of digital transformation on ESG performance based on various theoretical frameworks, including agency theory [16], dynamic capabilities theory [21], and strategic goals [22]. Some scholars argue that digital transformation positively influences ESG performance, while others suggest that it has both positive and negative effects [23,24]. ...
With the development of digital technologies, the impact of digital transformation on corporate performance in environmental, social responsibility, and governance areas warrants further research. This study aims to delve into how digital transformation may impact a company’s ESG performance from the perspective of supply chain resilience. We collect non-financial listed companies in China’s A-shares from 2009 to 2022 as research samples. The results show that digital transformation can significantly improve the ESG performance. Digital transformation can enhance supply chain resilience, namely by reducing supplier and customer concentration to improve a company’s ESG performance. We also reveal that non-heavy polluting companies, high-tech companies, and companies in the eastern regions are more sensitive to digital transformation in terms of ESG performance. This paper contributes to examining the relationship between digital transformation and corporate ESG performance, providing both a theoretical foundation and practical recommendations for guiding companies in achieving digital transformation and improving their ESG performance.
... On the demand side, maintaining or increasing future consumers' purchasing power and reducing social exclusion are essential for ensuring that future generations' income per capita is not lower than the present generation's. On the supply side, ensuring continuous access to natural resources benefits companies' production factors (Porter & Kramer, 2011). A proactive approach to a company's operations can lower production costs through efficient resource use. ...
This study explores the intersection of entrepreneurship and sustainability, focusing on how businesses can integrate environmental, social, and cultural considerations into their operations to drive sustainable development. By examining the role of sustainable entrepreneurship, the research highlights the transformative potential of integrating the triple bottom- line framework, which encompasses economic prosperity, environmental stewardship, and social equity. The study utilises qualitative methods, including case studies and theoretical analysis, to investigate how entrepreneurial ventures can achieve competitive advantages through sustainable practices. Key findings reveal that businesses with high entrepreneurial orientation marked by innovation, risk-taking, and proactiveness are more likely to implement sustainable strategies contributing to long- term economic growth and societal well-being. The research underscores the importance of a holistic approach that balances economic, environmental, social, and cultural dimensions, emphasising the need for businesses to align their strategies with sustainable development goals to ensure resilience and relevance in a rapidly changing global landscape.
... Evidence suggests that, in contrast to conventional wisdom, businesses can prosper by making constructive contributions to society (Famiyeh, 2017;Zhu et al., 2014). Governance, social responsibility, and environmental initiatives benefit a range of stakeholders and ultimately increase shareholder value (Porter and Kramer, 2011). ...
Stakeholder theory is the foundation for environmental, social, and governance (ESG) factors, which are crucial for sustainable corporate operations. This study looks at the effects that various ESG risk levels have on Indian financial companies' financial performance. The Prowess IQ database provided the data for this investigation. The study found, in keeping with stakeholder theory, a substantial negative association between ESG risk and a company's return on equity and return on assets through the use of correlation analysis and linear regression. These results emphasise how crucial it is for businesses to concentrate on lowering ESG risks in order to increase profitability. This study fills a knowledge gap about the relationship between ESG characteristics and financial performance, particularly in the context of the Indian financial sector, due to the paucity of research in this field.
... ESG is a term used by asset managers and investors to assess corporate behaviour and identify financial risks and growth opportunities for companies. CSR and ESG are becoming cornerstones of corporate success by improving companies' reputation, innovation, risk management, and revenues (Godfrey et al., 2009;Porter & Kramer, 2011;Maletič et al., 2014;Sen et al., 2016). Although CSR is typically more readily adopted by foreign-owned enterprises, due to the various barriers that prevent it from being used by many SMEs, it is not an unattainable concept for SMEs. ...
Background and Purpose
The study examines whether the growing popularity of the ESG (Environmental, Social, and Governance) approach could result in the decline or disappearance of the CSR (Corporate Social Responsibility) concept, which has encountered numerous challenges in practical implementation, and what the main sustainability issues are, helping to examine where the transition is, what elements already exist and where there are gaps. The question is analysed in the context of the tourism sector.
Methods
The empirical research methodology used is bibliometric analysis, which involves 924 studies using Publish or Perish (PoP) software and the PRISMA methodology.
Results
The analysis has explored the relationship between sustainability and tourism, as well as between tourism and ESG. The bibliometric maps reveal a strong relationship between CSR and ESG concepts in the study area.
Conclusion
The study highlights that ESG does not replace CSR but rather provides a measurement and framework for it to address its problems. In the tourism sector, the ESG field is dominated by the first ‘E’ pillar, meaning that sustainability is mainly focused on environmental and natural aspects, while social or even economic sustainability, and ethics are less prominent. The study provides suggestions for future research and useful information for policy makers, and tourism managers, organizations.
... The sustainability and extended supply chain framework discussed by Kleinderfor et al. (2005) describes the advantage of creating shared value within the entire value chain with the relationship between the economy, society, and the environment. Porter and Kramer (2011) define shared value as "corporate policies and practices that enhance the competitiveness of a company while simultaneously advancing social and economic conditions in the communities in which it operates." Creating a shared value provides companies or organizations with the opportunity to address socioeconomic and environmental pillars of sustainability throughout their entire value chain. ...
Sustainable value chain management (SVCM) incorporates the social, economic, and environmental aspects (known as the triple-bottom-line) of production systems, offering significant potential for sustainable operations. By broadening system boundaries and including triple-bottom-line sustainability indicators, SVCM can improve the existing literature on sustainable operations management. Life cycle sustainability assessment (LCSA) identifies sustainability hotspots within value chains but is often underutilized in the practical design of sustainable operations. This paper presents a three-phase framework that combines SVCM and LCSA to enhance sustainable operations, using electricity production as a case study due to its substantial carbon footprint. The authors reviewed 443 articles from an initial 1649 documents on electricity production technologies, emphasizing the use of life cycle assessment (LCA) models to achieve responsible operations in the energy sector. The study highlights the benefits of the proposed integrated framework in achieving sustainable operations through sustainability reporting, stakeholder engagement, transparent procurement, global value chain management, corporate social responsibility, integrated decision-making, circular economy, and carbon footprint management. Future research should focus on developing circular production systems, integrating socioeconomic indicators, and aligning sustainable development goals with value chain hotspots.
... This short report defines CSR as the social obligation of business enterprises to impact society beyond pure profit maximization (1,10) through an institutionalized responsive approach translated into and aligned with managerial practices, including human resource management (1,11). With that approach, CSR can be seen as a planned process with strategic applications and links to the organization's mission and core competences (12)(13)(14).Several works have highlighted how CSR can increase organizational performance (15) through generating a sense of belonging and commitment among stakeholders (16,17). In addition to the evidence for CSR's beneficial effects on employees (18), the main argument here is that HRM could provide a managerial framework to support organizational efforts to translate CSR strategies into practical managerial actions and outcomes, especially within the internal organizational environment (2,19,20). ...
In the past decade, there has been an argument for the inclusion of corporate social responsibility (CSR) in models and business strategies. However, the conversion of CSR strategy into actual managerial practices and outcome values remains an issue of ongoing debate as well an important challenge for business organizations. Furthermore, still is very little discussion on how business will influence stakeholder’s health promotion and surrounding environment as means to help address society’s most pressing challenges. This paper discusses the potential of public health literacy in advancing stakeholders’ health promotion beyond the workplace. The discussion argues that integrating corporate social responsibility (CSR) and human resources management (HRM) is an effective strategy to achieve social sustainability in organizations in which stakeholders’ health and well-being are important components. This short report describes an integrated CSR-HRM and describes how it can facilitate public health literacy. In the era of sustainable development, there is a need to discuss how business organizations can strategize to enhance internal and external stakeholders’ health and well-being.
... The concept specifically highlights the limits of current business strategies driven by the pressures of shareholder-focused capitalism and a one-dimensional emphasis on shortterm results. So based on this concept the business world can optimize the identification of social problems as part of corporate business strategy (Kim et al., 2021;Porter & Kramer, 2011). ...
This research aims to analyze the influence of creating shared value (CSV) on brand image and customer loyalty at PT Pegadaian. CSV is an independent variable that contains aspects of social, environmental and economic values. CSV performance is focused on PT Pegadaian CSV program, namely sorting waste, saving gold and the gade integrated farming. This research uses an ex post facto quantitative approach with a structural equation model (SEM) which is operated using Amos version 24. Respondents in this research are customers or customers of PT Pegadaian who receive the benefits of the CSV program, namely the waste bank program for sorting waste, saving gold and the integrated gade. farming. Validity testing uses confirmatory factor analysis (CFA) and reliability uses construct measurement values with valid and reliable results. Data analysis uses descriptive statistical analysis and path analysis. The results of the research show that there is a positive and significant influence between social and brand image, there is no significant influence between the environment and brand image, there is a positive and significant influence between the economy and brand image, and there is a positive and significant influence between brand image and customer loyalty. The results of this research provide information that the higher the CSV performance, the more it provides a positive image for the company which influences customer loyalty.
... Furthermore, the concept of shared value can guide community participation and collaboration. The concept of shared value relates to the idea that firms can generate economic benefit while also addressing societal needs (Porter & Kramer, 2011). Coffee shops can work with local community organizations, donate to philanthropic causes, and participate in educational activities that benefit the community and promote sustainable development. ...
The specialty coffee industry in Buraydah, Al Qassim, Saudi Arabia, provides an enthralling atmosphere for research, with fierce rivalry and a strong coffee culture. To investigate the social, economic, and cultural aspects of the specialty coffee market in Buraydah, this study takes a multidisciplinary approach, merging ethnography, economics, sociology, marketing, and cultural studies. This extensive study adds to the comprehension of the specialty coffee market in Buraydah, with implications for stakeholders, policymakers, and the local population. It emphasizes the economic, social, and cultural forces that shape the sector, as well as the possibility for long-term success and beneficial influence through sustainable practices.
... Los dos primeros son la base, mientras que el tercero es la clave para sostenerla. Estos se concretan a través de los resultados de innovación (Dresch, Collatto y Lacerda, 2018;García, Serrano y Blasco, 2005;Horta, Silveira y Camacho, 2015;Peñaloza, 2007;Porter,2008Porter, , 2011Porter y Kramer, 2011). Co-operation and Development (2005), la innovación se entiende como la creación o mejora representativa de un bien o servicio, de un proceso comercial u organizacional que ofrece un valor agregado. ...
Cuando una compañía ofrece y sostiene una propuesta de valor peculiar al mercado, es porque dispone de una estructura competitiva; pero para lograrla es esencial la gestión de la innovación. Pese a la transcendencia de esta última, algunas empresas encuentran limitantes para materializarla, principalmente por ausencia de recursos, así como capacidades internas. El propósito de la investigación fue estudiar la Innovación Abierta como una alternativa para aquellas organizaciones que presentan obstáculos en la gestión y en la consecución de resultados. En el manuscrito se presentan concepciones, estrategias, aplicaciones del modelo abierto de innovación; además de los resultados del análisis bibliométrico de la producción científica sobre Innovación Abierta y gestión, generada desde el año 2007 hasta el 2019 en la base de datos Scopus. Los macro datos fueron trabajados en la aplicación Bibliometrix, obteniendo los nombres de autores influyentes, las fuentes de publicación más relevantes, así como los países dominantes en la temática. El documento refleja la pertinencia de la IA como factor clave en la competitividad de las compañías, implicándoles una mayor relación colaborativa con su entorno. Los hallazgos muestran la viabilidad de la Innovación Abierta como factor clave en la competitividad, implicando a las compañías la búsqueda de vínculos colaborativos con actores de su entorno.
... The underlying idea is that the market can solve sustainability issues, generating business opportunities and resources. This logic can also be found in the literature on business and society, such as the "shared value" approach (Porter and Kramer, 2011), which promotes and celebrates the power of business to cope with contemporary societal challenges. The green growth paradigm fits the market rules archetype on a macro scale. ...
Despite the increasing interest in CE models, it is still debated how the hospitality and tourism industry can continue to thrive while avoiding harmful impacts on the environment and local communities. The paper critically analyses the circular economy (CE) models adopted in hospitality and tourism to tackle societal challenges in the current Anthropocene era, exploring the driving values and sustainability approaches. A systematic literature review was carried out with an increasing level of analysis to delve more in-depth into the ability of the CE models to respond to current societal challenges. The review involved a stepwise analysis, starting with a thematic analysis of 151 papers to create a conceptual structure map of circular hospitality and tourism literature. Based on originality and representativeness, 22 papers were selected and analysed according to Hoffman and Jennings' (2018; 2021) institutional approach to sustainability, which entails specific archetypes to address the Anthropocene society: market rules, technology fix and cultural re-enlightening. The paper highlights the urgent need for a cultural shift towards radical and strong sustainability, identifying future research directions. Policymakers have a crucial role in shaping sustainability practices consistent with an ecological culture centred on acknowledging planetary boundaries.
The article analyses conditions and factors, which affect realization of corporate ecologic responsibility at steelmaking enterprises in Russia. Special attention is paid to motivation of companies to keep to responsible work and assess its compliance with set standards. The research covers motivation of steel-making enterprises in respect of practices aimed at improving the ecologic situation, both internal and external factors are studied. The article analyzed current practices of big steel-making companies of Russia. The author investigates a wide range of factors that can influence company decisions in the field of ecologic responsibility. As a result the article provides a complete picture of the current situation and prospects of developing corporate ecologic responsibility at steelmaking enterprises in Russia.
This publication collects a sample of contributions presented at the first edition of the Inter-national Conference on Advanced Marketing Practices (ICoAMP) held virtually (online) on April 18 and 19 at the University of Almería, Spain. The first edition of the conference was focused on disruption, diversity and ethics.
Through the contributions provided by the diverse authors, this publication covers a wide range of different topics such as analytics, measurement and methodologies in marketing, consuming technocultures, how Artificial Intelligence (AI) is disrupting marketing practice, the impact of digital technologies on marketing management, marketing oriented to ODS, new patterns of living & working and customer demand, regulatory and public policy issues and social media and digital marketing practice and aims to enlighten the reader on the newest and most innovative trends in the field of marketing research.
This essay focuses on a wide and evergreen, always particularly challenging, issue, which can be summarized under the label of “quality of work”, looking at it from an organizational perspective. Therefore, and more precisely, it offers some suggestions with regard to the role that Human Resource Management can play in helping to precise better this concept, to improve its contents and to work to increase it.
In the contemporary business landscape, integrating socially responsible marketing into enterprise strategies is increasingly recognized as a critical factor for sustainable development. This article delves into the essential role that socially responsible marketing plays in ensuring the strategic development of an enterprise, highlighting its impact on long-term viability and competitiveness. Socially responsible marketing involves incorporating ethical, social, and environmental considerations into marketing practices, fostering a more holistic approach to business development. As consumers become more conscious of the ethical implications of their purchasing decisions, enterprises that prioritize socially responsible marketing are better positioned to build trust, customer retention, and a more substantial market presence. Furthermore, the article explores the role of SRM in driving the strategic development of enterprises. By emphasizing sustainability and social responsibility, businesses are encouraged to develop new products and processes that minimize environmental impact and address societal needs. Moreover, socially responsible marketing fosters strong relationships with stakeholders, including investors, communities, and regulatory bodies. Transparent communication and genuine efforts to address social and environmental issues help build stakeholder trust and support, which are crucial for long-term strategic sustainability. This positive stakeholder engagement also mitigates risks and enhances the enterprise’s ability to navigate complex environments. In conclusion, integrating socially responsible marketing into the strategic development of an enterprise is not merely a trend but a fundamental component of modern business practice. Socially responsible marketing supports the sustainable development of an enterprise by aligning economic, social, and environmental goals, thereby creating a competitive advantage and ensuring long-term success. As businesses continue to evolve in response to global challenges, the adoption of socially responsible marketing will be essential for maintaining relevance and achieving strategic objectives. Keywords: enterprise development, strategic development, sustainable development of an enterprise, development strategy, strategic sustainability, social responsibility, socially responsible marketing, enterprise.
Over the past decade, discussions on the interaction between Corporate Governance (CG) and Corporate Sustainability (CS) have been extensive, yet clear conclusions are still lacking. This study systematically reviews the literature to evaluate how adherence to CG principles impacts CS, with a focus on trends, country-specific publications, journals, methodologies, and the nature of their relationship. Utilizing the SCOPUS database, we initially screened 1,787 articles published between 1997 and 2023, ultimately selecting 76 based on rigorous criteria for detailed review. The results show that CG and CS is an expanding field, demonstrated by a notable increase in both publications and citations. Only 30% of the studies were conducted in Asia. A substantial 80% of the articles applied theoretical frameworks such as Agency, Legitimacy, and Stakeholder Theories, with 84% employing regression analysis. Most studies (71%) reported a positive relationship between Corporate Governance and Corporate Sustainability, while 29% found negative, mixed, or no relationship. This study contributes to the existing literature by suggesting that improved Corporate Governance practices can enhance Corporate Sustainability outcomes, providing valuable insights for managers and policymakers. However, the study’s limitations include a predominant reliance on quantitative methods, which may overlook qualitative aspects, and a geographic bias with fewer studies from emerging markets. Future research could investigate different contexts and incorporate a range of methodologies to further understand the CG-CS relationship.
This study addresses endogenous factors related to the strategic planning of corporate social responsibility (CSR). Our findings help explain the paradox: If better CSR always leads to better firm performance, why do so many companies either choose not to engage in CSR or act irresponsibly? Managers may make decisions regarding CSR based on the environment. Some companies may be better served through a proactive CSR strategy; however, others may be unable to achieve better performance through this strategy for a variety of endogenous causes. Our sample included 594 U.S. publicly traded companies with 2,019 firm-year observations. We empirically simulated scenarios where companies selected inappropriate CSR strategies and found that the companies were unable to achieve better firm performance if they did not select appropriate CSR strategies based on their internal and external environment. Practical and theoretical implications are discussed.
Puji syukur kami panjatkan ke hadirat Tuhan Yang Maha Esa atas berkat dan rahmat-Nya sehingga buku "Socio-Technopreneurship" ini dapat terselesaikan dengan baik. Buku ini hadir sebagai jawaban atas kebutuhan informasi dan panduan bagi mereka yang tertarik mengembangkan usaha dengan pendekatan sosial dan teknologi di era digital. Buku ini mencakup berbagai topik yang relevan dan esensial dalam bidang socio-technopreneurship. Mulai dari pengantar dan dasar-dasar entrepreneurship di era digital, hingga pembahasan mendalam tentang sociopreneurship dan technopreneurship. Kami juga menyertakan model bisnis yang dapat diterapkan oleh socio-technopreneurs, aspek hukum dan etika yang harus dipahami, serta ide-ide bisnis yang inovatif. Tidak ketinggalan, buku ini juga membahas pembentukan tim, peluncuran dan scaling usaha, pengelolaan bisnis, keberlanjutan usaha, dan masa depan socio-technopreneurship. Sebagai penutup, kami menyajikan metode kasus dan proyek socio-technopreneurship serta kebijakan pemerintah daerah terkait kewirausahaan sosial. Ucapan terima kasih kami sampaikan kepada semua pihak yang telah berkontribusi dalam penyusunan buku ini. Terima kasih khusus kami sampaikan kepada keluarga, rekan kerja, dan para ahli yang memberikan masukan berharga serta inspirasi untuk menyelesaikan karya ini. Tanpa dukungan dan kerjasama dari berbagai pihak, buku ini tidak akan dapat terwujud. Kami berharap buku ini dapat menjadi referensi yang bermanfaat bagi para pembaca, khususnya bagi mereka yang berminat untuk menggabungkan elemen sosial dan teknologi dalam usaha mereka. Semoga buku ini dapat memberikan wawasan, inspirasi, dan panduan praktis dalam mengembangkan socio-technopreneurshipyang berkelanjutan dan berdampak positif bagi masyarakat.
The perception of motivation for corporate social responsibility (CSR) activities among individuals plays a crucial role in achieving successful outcomes. Therefore, it is essential to gain an understanding of how different CSR activities can affect the perception of motivation for corporate social responsibility, with a view to ensuring the success of a hotel’s CSR strategy. This study aims to explore the effects of proactive and reactive communication strategies employed by hotel companies in relation to CSR, with a view to identifying how these strategies impact perceptions of CSR motivation and the subsequent influence on company outputs. To facilitate comparison between the two groups, an experimental design utilizing a fictional hotel brochure and two contrasting newspaper articles has been created. The newspaper articles have been fictionalized in accordance with both proactive and reactive CSR communication strategies. The study sample comprises 406 participants, and the data has been analyzed using structural equation modelling and t-tests. The findings indicate that perceptions of CSR motivation play a pivotal role in hotel evaluation. The proactive scenario is perceived as more value-driven by the first group, whereas in the second group, the reactive scenario is regarded as more strategy-oriented. Furthermore, the proactive group exhibits relatively more positive evaluations of firms in comparison. Consequently, there is an imperative for hotel companies to consider the interconnections between these variables when designing their CSR communication strategies.
The global value chain (GVC) framework may provide a systematic approach to depict and advance sustainable path options at the global, national, and local scales. However, a coherent picture of the fragmented body of knowledge on the sustainability implications of GVCs is lacking. In an attempt to delineate the most effective perspective for addressing sustainability challenges within GVCs, this review explores the main academic streams that have emerged in response to the pressing need for detailed insights into GVCs. These academic streams include sociological, economic, and management approaches. We examine the intersections and distinctions among them, evaluating whether they converge or diverge in addressing sustainability within GVCs. By discussing the limitations and potential of these approaches, we suggest a possible integrated and appropriate research agenda to achieve an encompassing and still operative perspective to address current sustainability challenges.
This study interrogates the contribution of corporate social responsibility to community development from socioeconomic, environmental, ethical, and philanthropic perspectives. A total of 401 households were selected randomly and proportionally from the Southern Nations Nationalities and Peoples Regional State and Hawassa City from the Sidama Region. Survey data were collected from local communities using the paper-assisted personal interview (PAPI) technique. Interviews with government officials and focus group discussions with local community members. Data were analyzed using a mixed research approach, where quantitative data were analyzed using a structural equation model and descriptive statistics, and thematic analysis was used for qualitative data. The study found that CSR contributes to many aspects of local community development. Our empirical model confirms that proper implementation of CSR initiatives substantially contributes to social development β = 0.913, economic development β = 913, environmental sustainability β = 0.784, ethical aspect 0.767, Philanthropic activities β = 0.814, and overall local development β = 0.960 where p ≤ 0.001 statistically significant level. The study reasserts and reiterates the need to design appropriate policy instruments and law enforcement techniques, in addition to promulgating regulatory provisions and legal frameworks. The study sheds light on the imperativeness of CSR for smooth human-environment and business-resource relationships. The study contributes to literature, debate, and policy implications on emerging issues of CSR-business, and development discourses.
This study explores the relationship between corporate social responsibility (CSR) and investment choices. It examines how CSR affects financial performance and how investors consider CSR when making investment decisions. The research suggests that CSR directly impacts a company's financial performance, with the impact increasing as the company's environmental, social, and governance (ESG) scores improve. Additionally, the study highlights the importance of ESG factors in socially responsible investing (SRI), which prioritizes investments in companies that promote positive social change. The findings indicate that investors consider CSR when making investment decisions, as it can enhance returns and provide a moral capital or goodwill that tempers punitive sanctions by stakeholders. The study concludes that CSR plays a significant role in corporate financialization and that investors should evaluate the financial viability of CSR investments alongside their social value.
This study investigates how Corporate Social Responsibility (CSR) information is communicated on the websites of tourism firms in Tanzania. Specifically, the study assesses the quantity, prominence and style of presentation of CSR information on the websites. Data was collected through a content analysis of the websites of the member firms of the Hotel Association of Tanzania (HAT) and Tanzania Association of Tour Operators (TATO). The findings reveal that about 50% of tourism firms disclose their CSR information on their websites. Also, about 57% of tourism firms disclose a minimal amount of CSR information (1 to 2 pages), 31% place their CSR information prominently on the homepage, 54% present their CSR information using textual format only and 38% of websites allow interaction with stakeholders for inquiries and feedbacks. Moreover, the study highlights that hotels are more effective in utilizing websites for CSR communication than their tour operators, suggesting that firm size and industry subsectors influence variations in CSR communication practices. The findings imply that tourism firms in Tanzania recognize the crucial role of websites in corporate communication including CSR communication. However, tourism firms need to improve their CSR web communication by enhancing the volume, prominence, multimedia-rich content and interactivity of web-based CSR communications. Further research focusing on specific subsectors and exploring strategies for enhancing CSR communication on tourism websites could provide valuable insights.
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