accounting framework with three parts (social, environmental and financial). Some organizations have adopted this framework in order to evaluate their performance in a broader perspective to create greater business value.
Published in Chapter:
Corporate Social Responsibility: Benefits and Costs of Its Implementation
Dolores Gallardo Vazquez (University of Extremadura, Spain), Luis Enrique Valdez Juárez (Technological Institute of Sonora, Mexico), and Juan de la Cruz Sánchez Domínguez (University of Extremadura, Spain)
Copyright: © 2020
|Pages: 29
DOI: 10.4018/978-1-7998-2128-1.ch002
Abstract
Corporate social responsibility (CSR) is a current important strategy in organizations today. Numerous factors that affect the global functioning of organizations have determined the need to incorporate a look towards sustainable development. This implies considering the integration of not only economic, but also social and environmental concerns in the day-to-day of the companies. We move, therefore, under the perspective of the Triple Bottom Line. In addition, the exercise of CSR will motivate the achievement of competitive advantages for organizations. Given this, this article seeks to analyze the numerous benefits derived from the implementation of socially responsible actions in companies. These are structured from different organizational approaches: personal sphere, organizational field, personal and organizational fields and financial area. Together with them, the implementation of the CSR may entail the need to incur certain costs, which are also referred to in the study. Finally, we propose some future lines of research