Corporate Social Responsibility (CSR) and Shared Value Creation (CSV)

Corporate social responsibility (CSR) and Shared value creation/creating shared value (CSV)
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Corporate social responsibility (CSR) and Shared value creation (CSV)
This paper addresses the effect of the CSR and CSV to businesses and people. CSR is a
comprehensive term applied to define effort of the company in improving the society way of life
in different perspectives. CSR (Corporate social and responsibility) is aimed to ensure that
organizations conduct their business in an ethical process which involves taking account of their
social, economic and effects (Carroll and Shabana, 2010).CSV reshape businesses and its
relationship to society. It also drives the innovation wave and growth of productivity in a
relatively competitive global economy. In simple term, the shared value was established to
change the operation of core business to achieve a triple bottom line returns.
Cognition
Cognition is the process of gaining knowledge from thoughts and experience. CSR and
CSV can be comprehended by giving an approach from various dimension. Both were
established to bring a positive gained in business and society. CSR and CSV dimensionally differ
in the various ways (Aguinis and Glavas, 2012). The two deliver services toward achieving
positive gains but the variation is demonstrated on their characteristics. For example, CSR
employees’ recruitment and retention while the CSV deploys assets to attain scale and
investment. Also, CSR corporate sustainability while CSV upgrades capabilities of the supplier.
The CSR undertakes something separate from the business while CSV integrates social and
environmental effect into the business.
Paradigmatic transformation
There exist four types of transformation affecting both CSR and CSV which include:
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