Title: CSR, global economic recession, and the need for sustainability: case studies of Pittsburgh-based global firms
Authors: Alan D. Smith
Addresses: Department of Management and Marketing, Robert Morris University, Pittsburgh, PA 15219-3099, USA
Abstract: Through a case study approach, via interviews and data gathered from publicly available sources, two major Pittsburgh-based global companies were examined in order to arrive at a better understanding of its socially responsibility initiatives to their stakeholders as they attempt to provide positive financial results and to uphold their corporate long-term sustainability efforts. It was assumed that intelligent business strategies would perceive CSR-based initiatives would not just find threats in a recession but also opportunities, which was found to be true through the companies' global initiatives of healthcare, economic, and sustainability efforts. Both companies have similar goals in regards to conservation of natural, renewable resources, and protection of the physical environment; since both companies consume enormous amounts of natural resources and have the need to soften their image within the communities that they conduct business. As managements must adapt to business changes that are driven by legislative and governmental actions that may be self-serving and issues driven without a true long-range strategic focus, any CSR-based initiative does not guarantee secure and profitable outcomes; hence, there will always be an element of risk involved in such ventures.
Keywords: business strategy; case study; corporate social responsibility; CSR; economic recession; corporate sustainability; sustainable development; globalisation; multinational corporations; MNCs.
International Journal of Society Systems Science, 2013 Vol.5 No.2, pp.149 - 172
Available online: 07 May 2013 *Full-text access for editors Access for subscribers Purchase this article Comment on this article