Corporate Social Responsibility in the Chemical Industry: A Guide to Planning and Implementing Successful CSR Strategies (Business Economics in a Rapidly-Changing World)

This book addresses the topic of Corporate Social Responsibility (CSR) for its importance for the business success, on the one hand, and for the further diffusion of CSR practices, on the other. In particular, the book highlights how CSR practices can be correctly implemented in order to obtain positive corporate economic performance and to improve relationship with stakeholders. CSR is not a simple set of initiatives, but a complex system of different resources, both intangible - values - and tangible - activities. Such resources have to be integrated into the corporate strategy by following a tailor-made pathway, which takes into account corporate goals, as well as the stakeholder' ones. This book aims at defining a practical guide for integrating CSR to create value for both companies and society in general. To this purpose, after an in-depth review of the literature on CSR, and on the business case for CSR and the related causes of failure, a case study was built. Such a case study is based on the comparison between CSR strategies implemented by a sample of companies belonging to the chemical industry. This sector is relevant for the economic development, and for its constant innovativeness. Moreover, the chemical industry has a long experience in CSR and sustainability strategies, and it offers many best practices to discuss. In particular, the case study focuses on a comparative analysis of CSR strategies developed by two specific companies: the firm recording the highest increase in both CSR initiatives and financial performance over the period 2007-2010, on the one hand, and the company registering the highest decrease during the same time span on the other.