Strategic Focus of CSR towards Sustainability: A Sri Lankan Perspective
2016
Corporate Social Responsibility (CSR) being one of the fastest changing areas of management today has few facets among scholars in the world, one
schoolof
thoughtsbelieve CSR should be used mainly as a social endeavor and the others think it should be linked to the corporate strategy for financial performance. In this context, this paper aims to observe how strategic approach of CSR initiatives leads to sustainability specially an environment where economic wounds are been settling and new opportunities are been evolving after a 30 year long civil
unrestin a society. The strategic antecedents recognized in this model are
resource mobilization, market
developmentand customer orientation and the study attempts to identify the core strategic focus of those in building CSR initiatives for sustainability. Accordingly, total of 360 shareholders/investors and managers among 40 corporates who were involved in CSR activities during 05 years after a long civil war in Sri Lanka was sampled. It has found that implementing CSR initiatives strategically aiming both
resource mobilizationand market development tend to support sustainability of those initiatives but aiming customer orientation has less impact otherwise. In conclusion, it is advisable for corporates to approach CSR initiatives strategically gaining a return to both the society and for them and also it is important that governments too support those initiatives in rebuilding process. Keywords: strategic CSR, sustainability, rebuilding,
resource mobilizationand market development.
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