Corporate social responsibility (CSR) has been anincreased concept within the today s business andthere are different perceptions regarding the meansof the concept. The theories in the area focus on CSRas a possible source of competitive advantage, butalso as a strategic necessity. There is a debateregarding the Stakeholders importance when it comesto a firm s CSR activities. Satisfying stakeholdersmay be useful to increase a firm s competitiveness,as well as it can be seen as a necessity. This studyexplores whether a CSR activity can be seen as asource of competitive advantage, or as a strategicnecessity.The main findings concern CSR as competitiveadvantage and as a strategic necessity, as well asrooted in the firm s values and beliefs. Further, thefindings show a more detailed categorisation ofsources of competitive advantage and strategicnecessity. In addition, the findings show that thedifferent stakeholder groups: latent, expectant anddefinitive have different perceptions ofa CSRactivity. Lastly, the CSR managers intention and thestakeholders perception differ in some areas.
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