CSR Strategies: Corporate Social Responsibility for a Competitive Edge in Emerging Markets

Author: Jeremy Galbreath 

In the past, companies had thought that development of the market was the key to sustainable growth. They have now realized that the future is very much linked to the society, the government and the environment in which it does business.

Globalization, especially in emerging markets, has changed the nature of the market from that of a local market into a wider and more competitive one. If companies are to succeed, the products and services offered must have a global competitive edge. Furthermore, if the basic market is to be expanded, it must be conditioned to ensure that it offers a favorable environment to attract further investment.

Within this fast changing environment and the pressuring global factors, a number of companies in emerging markets are able not only to survive, but also ensure sustainable growth by endorsing the incorporation of Corporate Social Responsibility (CSR) activities within the business strategy from the early stage of its development. Good Corporate Governance (GCG) - the incorporation of a culture that pertain to high standards of corporate behavior within the core business operation - and CSR - the interaction of the corporation and the external environment outside the core business operation - are becoming an increasingly important part of the business strategy. Good corporate culture and human resources capability are major determinants of a company's success or failure and CSR activities are important tools to support the company's strategy, image and reputation.

From the macro perspective, business has little or no control over the government, industry, environment, society and now with globalization - the international community, but well defined and strategic CSR activities will strongly influence the market / community and its bigger system, whether directly or indirectly. Well managed GCG and CSR is equal to good risk management.

The book provides readers with various case studies, showing how the adoption of appropriate CSR activities will ensure a superior triple bottom line result in terms of financial, environmental and social aspects of business success.

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