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Running head: STRATEGIC MANAGEMENT
Strategic Management
Institution Affiliation
Date
1
STRATEGIC MANAGEMENT
2
QUESTION 1
Introduction
Corporate social responsibility is key to a company’s success as it enables a company to
establish its image well in the public domain through socially driven activities such as advocacy
campaigns, fair business practices, environmental actions, and customer concern. Corporate
social responsibility has enabled organizations to grow easily with minimum amount of time
which makes it easier for them to access capital. Enough profits yielded by organizations have
enabled them to practice corporate social responsibility hence making it a requirement for every
organization to practice it. Organizations have also been able to save on operational costs and
also gain a positive business reputation.
According to Saiedi (2015), many organizations tend to use corporate social
responsibility as a tool of competitive advantage due to increased sales and customer loyalty.
Organizations are also able to get better brand recognition and the ability to attract talent from
the people who are offered jobs in society due to corporate social responsibility. It has
dramatically enabled higher productivity. A competitive advantage is whereby a business
distinguishes itself from other companies intending to be profitable than the other company. It is
a tool that enables one business to compete favorably and yield a reasonable amount of profit.
Through competitive advantage, an organization can produce quality products of
excellent value hence attracting many customers. Many customers opt to choose your company
over the others due to the benefits they get from associating themselves with your company. An
excellent competitive advantage can ensure that a company’s publicity rises at such a point,
whereby the company yields a significant amount of profit as compared to o...