Publication year: 2012
Source:Journal of Business Research

Daniel Korschun, Shuili Du

Web-based social media have assumed unprecedented importance in today's world, dramatically changing the way individuals interact with companies and each other. Companies are rapidly expanding their use of social media, and many companies are now entering into what we call “virtual CSR dialogs,” where social media technologies are leveraged so that stakeholders can design and implement corporate social responsibility (CSR) activities with the company. But little is known about how such dialogs function, and there is a pressing need for theoretical frameworks that can deepen our understanding of how and when these dialogs generate value for both the company and society. This paper presents a framework that explains how stakeholders interpret and respond to virtual CSR dialogs. The framework reveals that virtual CSR dialogs generate value based on (a) the extent to which stakeholders identify with the community of dialog participants, and (b) the heightened expectations that stakeholders develop. It also outlines the key characteristics that influence the value generating capacity of virtual CSR dialogs. As a result, this paper highlights both the benefits and risks of initiating virtual CSR dialogs.

A detailed look at the role of social responsibility in finance and investing The concept of socially responsible finance and investing continues to grow, especially in the wake of one of the most devastating financial crises in history. This includes responsibility from the corporate side (corporate social responsibility) as well as the investor side (socially responsible investing) of the capital markets. Filled with in-depth insights and practical Read More...

Abstract

Purpose – The purpose of this paper is to identify the role intermediaries can play in an small to medium-sized enterprise's (SME's) pursuit for corporate sustainability with a focus on eco-innovation. The research identifies drivers and barriers for eco-innovation, and highlights effects induced through collaboration between SMEs and local authorities, on the one hand, and consultancies, on the other. Design/methodology/approach – This paper is based on an exploratory qualitative interview study among German SMEs of the metal and mechanical engineering industry that have participated in “Ecoprofit”, an intermediary based program that aims at introducing organizations to the concept of sustainable development through implementation of eco-innovations. Findings – The key findings are that first, the proactive approach by a public intermediary (here local authority) is one essential push factor to trigger eco-innovations in SMEs with low absorptive capacity. Second, it is found that SMEs may need facilitation for eco-innovation from different types of intermediaries (public and private) with different levels of support, which can range from customized and individual to more loosely held support, such as networks. Originality/value – This study discusses the challenges of corporate sustainability with a focus on eco-innovations for SMEs and proposes a “complex intermediary” consisting of a local authority and consultancies as one means to engage SMEs in sustainability. Moreover, it focuses on SMEs in the B2B context, organizations that are often overlooked despite their vast impact. Furthermore, by using a single industry approach, in-depth findings for the metal and mechanical engineering industry are presented.