Critical perspectives on strategic CSR: what is sustainable value co-creation orientation?

Abstract

Purpose – This purpose of this paper is to integrate corporate responsibility (CR) doctrine into corporate strategy by problematizing existing notions of traditional corporate social responsibility. We provide a theoretical and empirical basis for the proposition that the bridge between CR and corporate irresponsibility is the embeddedness of strategic decisions in ethically oriented corporate practices toward sustainable value co-creation. Design/methodology/approach – Analysis was performed by meta-theoretical and economic philosophical approaches. The contemporary trends which have led to the institutionalization of sustainability questions, are explained. Special attention is paid to the historical, cultural and the international institutional context within which organizational culture becomes saturated with deviance. Findings – The main thrust is that competitive advantage, legitimacy for survival and success of the international firm in the 21st century hinges on innovative value co-creation that meets sustainability pressures and institutional expectations. Research limitations/implications – The research approach opens itself to debate. No generalizability claims are made but the propositions and conceptual framework seek to direct the CR discourse to engage seriously with cooperative investments for sustainable value creation. Originality/value – This paper contributes to the debate on CR, global sustainability and the role of international firms in society. It offers clarity in the confusion and fills a theoretical gap through a novel conceptualization of strategic corporate responsibility. Here, consumer, environmental and institutional orientation rather than producer orientation form the basis of analysis on value co-creation.