VALUE CREATION THROUGH CSR AT STAKEHOLDERS LEVEL

Abstract

In spite of the existing strong literature about the role of corporate social responsibility (CSR) in the aspects of environment and society, there is a significant gap about how CSR can create value for company stakeholders. In spite of Carroll's pyramid and 3C-SR model, there is a lack of holistic framework that exhibit the process of value creation for company stakeholders. The objective of this paper work is to identify theoretical possibilities of value creation through CSR for stakeholders, yet avoiding extensive discussions concerning value creation to common environment. Study shows that most likely only shared value creation through CSR seems to be sustainable. It’s already foreseen that CSR will evolve and value creation through CSR will change and possibly implementation of CSR will become more oriented towards creation of shared value.