Last modified: 2014-07-10
Corporate Social Responsibility & Creating Shared Value
Business development goes hand in hand with development of society. However, business prosperity is widely perceived as at the expenses of society. New millennium brought a lot of concepts, which combine business success with support of society under auspices of sustainability, which allows satisfaction of current society needs without prevention of this privilege for future generations. Corporate social responsibility is already strongly supported worldwide. Relatively new concept is creating shared value, which perceives sustainability in solving social issues as business opportunities. The aim of this paper is to describe chosen sustainable directions of strategic management; corporate social responsibility and creating shared value, theirs comparison in point of view of basic characteristics, application in business practice and on this basis creation scheme of core attributes and relations of these concepts for application in business practice. Despite some differences, it is important to perceive these concepts of corporate social responsibility and creating shared value in terms of their common characteristics that can bring long-term prosperity to business as it is summarized in the scheme presented in this paper.
Corporate Social Responsibility, Creating Shared Value
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