Strategic Impact of Corporate Social Responsibility

Abstract

Corporate social responsibility always has a positive impact on firm performance. However, there is a lack of studies that may illuminate the impact of CSR practices as a strategic tool for the hospitality industry. Although there is a significant research gap with respect to the theoretical perspective and impact of initiated CSR activities. The gap is potent in the case of CSR activities and its association with business performance, goodwill, customers, and stakeholders. Thus, this chapter has been written purposively to make readers understand the impact and significance of CSR practices in the hospitality industry for customers, stakeholders, and the environment. The postulate seems to be true as the study reflects vividly upon the theoretical perspectives, literature, and findings associated with the effect of CSR activities on hotels.