The emperors clothes - corporate social responsibility creating shared value and sustainability

Abstract

Corporations in the 21st play a decisive role in the future of society. Their power and influence in world affairs often seems devoid of ethics and seems to exceed the reach and the means of many nations. As a result, the strategic positions they take towards value creation and ethics affects every individual on the planet. This paper explores strategic routes that organisations could apply to facilitate economic growth while ensuring their ecological integrity and ensuring social enhancement generating benefits to a wider scope of organisational stakeholders. By conducting a critical analysis and clarifying common misconceptions between Corporate Social Responsibility (CSR), Creating Shared Value (CSV) and Sustainability, it is possible to determine how these interrelated strategic approaches have evolved. This article argues the importance of transforming the purpose of organisations to encapsulate stakeholder value creation as the main reason for their existence.