Corporate Social Responsibility Strategies and their Influence on Customers and Investors

Introduction

The business world has had an increasing interest in sustainability over the recent years. Due to this fact, businesses as well as individuals have had a growing awareness of the effect their actions and behaviours will have in the long-run.  Long gone are the days when making profit was the only focus of the businesses. The modern businesses are very much aware of the need to take a wider perspective when carrying out their activities and the need to take the needs of the stakeholders into consideration. Due to this awareness of the effects of business activities on the long term, there has been a need to develop and implement a corporate social responsibility strategy. Corporate social responsibility is the situation in which a business firm engages itself in activities that can be said to be social good. Such activities add value to the society and are beyond the firm’s interests and are not compelled by law. The firm only engage in these activities out of good will and with an aim of positively impacting the society (McWilliams and Siegel, 2001).