Strategic CSR: A new definition and new frontiers

This chapter discusses the notion of strategic corporate social responsibility (CSR) and how it can play an important part in a company’s strategy. It starts with a reflection on the shift in perceptions of business responsibility: from a narrow view (focusing on profits only), to an instrumental view (CSR as the means to achieve corporate benefits), and finally a strategic view (companies have a social responsibility toward society and the environment). Based on the latter, the chapter deliberates on the concept of strategic CSR and offers a new definition, which includes five different aspects (or frontiers) of business responsibility. These five frontiers are a holistic and long-term approach; alignment with the firm’s strategy; stakeholder integration; ethical behavior; and using the power of business to address social and environmental issues. Each of these aspects are discussed, some with key questions and suggestions for implementation. The chapter concludes with thoughts on the future of CSR and practical implications for business.