Exploring the Multiple Benefits of CSR on Organizational Performance: Case of Lebanon
Companies around the globe are recognizing the importance of engaging in Corporate Social Responsibility (CSR) that is crucial to their survival and growth. It is evident that when an organization integrates appropriate CSR practices in its strategy that embed the societal and environmental concerns, these practices undoubtedly bring tangible benefits to the business along with a sustainable competitive advantage. In Lebanon, there is a consistent need for the Lebanese community to live in a safe, clean and healthy environment. Companies can no longer act as isolated entities that can run separately from the society and the environment in which they operate and with which they interact, disregarding the impact of their activities on the economy, the society, and the environment; these companies are assuming and acknowledging their responsibility not only towards shareholders through profit maximization but also towards all stakeholders through enhancing the welfare of the society and adopting environmentally-based behavior. However, there exists a substantial lack of awareness of CSR among Lebanese companies. The current practices in Lebanon have suffered from the lack of responsible behavior towards the employees, the economy, the society, and the environment. Consequently, the current research addresses the urgent managers’ need to understand what CSR is and assess the multiple benefits of its programs, and how they may help and end up in a win-win situation if CSR is implemented adequately. This research is exploratory in nature and uses a survey questionnaire distributed to a convenient sample of Lebanese managers and employees working in Lebanon. The purpose is to assess the knowledge and the implementation of CSR programs at selected number of Lebanese firms. This research attempts to define the gap between the existing socio-economic and environmental problems and the responsiveness levels of Lebanese firms to such problems.
Volume (Year): 1 (2012)
Issue (Month): 1 (October)
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