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Defined as 'a commitment to improved well-being through discretionary business practices and contributions of corporate resources' (Kotler & Lee, 2005); Corporate Social Responsibility (CSR) is an increasingly prominent element of today's global business world. As noted in a report in The Economist, 'doing well by doing good' has become an admired way of doing business – where organisations satisfy the interests of both society and shareholders ("Doing Good by Doing Well," 2015b). The pressure on organisations to exert a positive effort towards CSR and consequently contribute to sustainable development is mounting (Kolk & van Tulder, 2010). This is especially the case for multinational enterprises (MNEs), who are globally influential through their role in international activities in their home and host countries, in which a range of CSR issues are often met. In recent years, the shift in focus from social and environmental impacts of international business (IB), to more global concerns such as poverty and climate change (Kolk & van Tulder, 2010) has resulted in interest in the contribution of MNEs to resolve, or at least accommodate these international discrepancies. Thus, it is important to question the benefits of adopting and managing a CSR strategy for international business practitioners and MNEs.
This report will begin by conducting a review highlighting relevant literature, outlining the history and initial CSR conceptual development. Contemporary CSR theory will then be assessed about Corporate Social Performance (CSP), corporate citizenship and corporate philanthropy. Secondly, this report will detail the theoretical perspectives relating to strategic management and CSR of MNEs. The shortcomings of a resource and industry-based view are evaluated before the benefits of stakeholder theory discussed. Following this, an analysis will be conducted. Firstly, the benefits of adopting an...
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