How Managers Can Use Corporate Social Responsibility as a Strategy to Gain Competitive Advantage - Dissertation Example

The paper "How Managers Can Use Corporate Social Responsibility as a Strategy to Gain Competitive Advantage" is a worthy example of a dissertation on management. Corporate Social Responsibility (CSR) has always been considered as a concept of business ethics, strategic management, and corporate culture; but there is no agreement among research concerning the relationship between CSR and competitive advantage. This research has examined the impact of corporate social responsibility on competitive advantage using a survey questionnaire administered to 545 customers visiting 5 Tesco stores across London. This study has adopted this model by structuring its questionnaire items in terms of the three factors of competitive advantage suggested by the model.

Based on existing literature and the success of Tesco Plc, the research argues that corporate social responsibility is an important strategic tool that can be used to gain a competitive advantage. CSR builds the company’s brand image and enhances product quality, cost advantage, and pricing advantage as it takes advantage of responsible ways of conducting business. Corporate social responsibility is also used by integrating it with business strategy in order to achieve its strategic objectives. This has significant implications for managers who want to use CSR to achieve competitive advantage as it allows them to focus on CSR initiatives that attract the attention and positive perceptions of stakeholders. Some of the successful initiatives include caring for the environment, supporting communities, promoting a safe and healthy environment, and protecting the environment.

Corporate Social Responsibility entails the commitment of businesses to work with communities and protect the environment to enhance sustainable development and improve the overall quality of life in society. Companies that are concerned with corporate social responsibility integrate environmental and social aspects into their business operations. However, Ismail et al (2011) suggest that companies that focus on corporate social responsibility are concerned with the triple bottom line – people, planet, and profits. Corporate social responsibility allows a company to meet the objectives of various stakeholders apart from its own financial objectives.