Sustainability, Social Responsibility and Value Co-creation: A Case Study Based Approach

Abstract

Any kind of value, whether it is functional, hedonic, and symbolic or cost value has to be co-created by working together with the stakeholders while meeting expectations that companies promise. With this goal in mind, MNCs are engaged in value creation with the community through supporting corporate social responsibility and sustainability programs. These programs ensure maximum stakeholder participation in value creation process, especially in the selection, design and delivery of such programs. These engagements always foster stakeholder action and instill a sense of pride and confidence in them. Furthermore, these programs help the stakeholders to gain trust and confidence by maintaining transparency. In this study, the researchers are trying to focus on an Indian reputed MNC ITC and its quest for building platform for co-creation of value by engaging in corporate social responsibility and sustainability initiatives. To meet these research objectives, case study methodology has been applied to analyze the process and impact of CSR and sustainability initiatives of ITC's e-choupal. Information from published case studies in reputed journals and company sources has been used for further investigation into the area. Thus, this is an attempt to highlight present and future avenues of value co-creation through CSR and sustainability initiatives and to analyze its impact on the lives of community stakeholders.