Corporate social responsibility (CSR) needs to cohere with primary business operations. During the process of strategic development, CSR can be built into the business model so that the impact of CSR initiatives is financially beneficial and enhances, rather than damages, corporate reputation. This is perhaps the most challenging part of creating shared value. It requires that companies recognize and reconcile trade-offs between elements of a business model. Read this edition of Director Notes to find out why CSR is essential for companies who want to meet increasingly more stringent social and financial expectations and how to implement the practice.
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