Today’s business organizations whether large or small are expected to exhibit ethical behaviour and moral management. No corporations can operate only with traditional economic role. Now, not only are firms expected to be virtuous; they are being called to practice “social responsibility” or “corporate citizenship” that is, accepting some accountability for societal welfare. Businesses can sustain their growth only if society is generally satisfied with their overall contribution to societal well-being. Michael E. Porter, a Harvard strategy guru, believes there is a “symbiotic relationship” between social progress and competitive advancement (Porter and Kramer, 2006).
Modern CSR was born during the 1992 Earth Summit in Rio de Janeiro, as an explicit endorsement of voluntary approaches rather than mandatory regulation (Christian Aid. 2004). CSR can be defined as “situations where the firm goes beyond compliance and engages in actions that appear to further some social good, beyond the interests of the firm and that which is required by law”(McWilliams, A et al, 2006). CSR is regarded as voluntary corporate commitment to exceed the explicit and implicit obligations imposed on a company by society’s expectations of conventional corporate behaviour. Hence, CSR is a way of promoting social trends to enhance society’s basic order, which can be defined as consistency of obligations that cover both the legal framework and social conventions (Falck et al, 2007).
In Zimbabwe, companies should take advantage of the initiative programs being implemented by CSR Network Zimbabwe. CSR Network Zimbabwe (CSRNZ) is a professional multi-stakeholder organization established in Zimbabwe in 2016 with the aim to advance the principles and practices of Corporate Social Responsibility within the private sector. Its ultimate goal is to support sustainable businesses which in turn contributes to sustainable economic growth leading to the achievement of some Sustainable Development Goals. CSRNZ facilitates networking, learning, sharing experiences and knowledge in matters of CSR.
Businesses can have a positive impact on society and development through three main avenues which are employment benefits, community development and philanthropy and lastly core business CSR strategy. The first two avenues can be broadly grouped together as traditional CSR. Traditional CSR activities that encompass community development and philanthropy are usually seen as distinct and unrelated to core business operations. Business could have a CSR programme of education and healthcare while polluting the environment and treating workers poorly. Strategic CSR is meant to address this problem by addressing any negative value-chain impacts while supporting the business strategy and the needs of the community. Therefore, traditional CSR is differentiated in motivation, implementation, and impact from Strategic CSR (Werner, 2009).
CSR should be a win-win situation where companies make profits and society benefits. Having identified social issues, Porter and Kramer made a bold claim that, the essential test that should guide CSR is not whether a cause is worthy but whether it presents an opportunity to create shared value, a meaningful benefit for society that is also valuable to the business. As a result, they show how a company can create a corporate social agenda, composed of “strategic CSR,” (Porter and Kramer, 2006). When properly designed and implemented to fit the needs of the community and corporation, CSR can become a source of opportunity, innovation, and competitive advantage. Strategic CSR also ensures that a business is focused on minimizing potential negative impacts of its operations (Werner, 2009).
