University of Vaasa - Vaasan yliopisto

THE INTEGRATION OF CSR INTO BUSINESS
STRATEGY: AN EMPIRICAL ANALYSIS OF LARGE
ITALIAN FIRMS
Abstract
Anna Maria Contri
Ph.D Student in Management Engineering
Department of Management Engineering
Politecnico di Milano
Piazza Leonardo da Vinci 32, 20133 Milano, ITALY
Paolo Maccarrone
Department of Management Engineering
Politecnico di Milano
Piazza Leonardo da Vinci 32, , 20133 Milano, ITALY
Many recent studies about Corporate Social Responsibility are focusing on the integration of
CSR into the companies’ business strategy and on some managerial tools and organizational
aspects than can be implemented by firms to formalize and systematize their approach to CSR.
The purpose of this research is therefore to analyze the two aspects separately, finding a set of
variables that can be used to measure both the degree of formalization of the CSR management
process and the strategic relevance attributed by firms to CSR. Building a matrix whose
dimensions corresponds to the two analyzed aspects three main approaches to CSR have been
identified, depending on which of the two aspects is prevailing: formal, social values-driven and
strategic CSR. Ten case studies of Italian large firms have been analyzed with respect to these
two dimensions and have been used to exemplify and explain the different approaches of
companies toward CSR.
Key words: Business strategy, Corporate social responsibility, companies’ approach to CSR,
formalized management systems, Italian large firms
Introduction
A review of the most recent literature on CSR reveals a trend for studying the
strategic implications of Corporate Social Responsibility and analyzing the
competitive advantages that can arise from a strategic approach to CSR by a profitoriented
firm. Companies that recognize the strategic value of social responsibility
undertake initiatives related to their business, which give them an opportunity to
utilize and develop their core competencies. Such business-relevant initiatives allow
firms to effectively contribute to improving the environment and society, while at the
same time enabling them to gain competitive advantage, differentiate themselves
from competitors, improve their competitive environment, and strengthen relations
with key stakeholders.
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