Corporate social responsibility, a strategy to create and consolidate sustainable businesses.docVIP

Theoretical and Applied Economics Volume XIX (2012), No. 11(576), pp. 91-106 Corporate social responsibility, a strategy to create and consolidate sustainable businesses Mariana Cristina GANESCU ?Constantin Brancoveanu” University, Pite?ti cristina_ganescu@ Abstract. To highlight the strategic importance of CSR, this paper starts with a study of specialized literature in order to identify the role of these strategies in the creation and strengthening of sustainable business. Using Dunphys model as a start point, we attempted to draft typologies for social responsibility strategies that support organizations in creating and strengthening sustainable business. An empirical study of the European automobile industry has sought to highlight the impact CSR strategies have on sustainable business. Selection and implementation of appropriate social responsibility strategies are important in achieving added value through the creation and strengthening of sustainable business. Keywords: corporate social responsibility; social responsibility strategy; sustainable business; corporate sustainability. JEL Codes: M14, M21, l62. REL Codes: 7L, 10B, 10H, 15D.  92 Mariana Cristina Ganescu 1. Introduction The global economy requires organizations to clearly define their role and reconsider their economic, social and environmental objectives, transforming business models faster, more frequent and more extensive than in the past, to demonstrate their capacity to develop sustainable business through clearly stated and transparent strategies(Doz, Kosonen, 2010). Business sustainability objectives have become increasingly more impor- tant for companies, but also for stakeholders. Such an attitude of businesses, focused on strengthening fair relationships with stakeholders, meets the following requirements: addresses allegations from international bodies which perceive globaliz