STRATEGIC CORPORATE SOCIAL RESPONSIBILITY: A THEORETICAL FRAMEWORK

Abstract

In this dynamic environment, there is a dire need to work in a responsible manner that may lead to the sustenance of a company in any situation. This paper aims to provide the theoretical framework on Strategic Corporate Social Responsibility which will help in the proper implementation of Corporate Social Responsibility (CSR) activities in integration with the company’s main strategy. The framework is based on the review of the literature and involves four steps (analyzing the internal and external environment, formulating the CSR strategy, measuring the outcomes of CSR activities and comparing with the expected outcome, and taking corrective action to achieve the desired objectives). This framework not only increases the conceptual understanding of Strategic CSR but also provides guidelines to the managers as to how they should consider their CSR activities as a part of their business.