Traditional Vs Strategic Corporate Social Responsibility: In pursuit of supporting Sustainable Development.

Abstract

The purpose of this paper is to justify the interdependency of business and the society and explore the benefits ofintegrating ‘social responsibility’ into the core strategy of business firms rather than practicing philanthropy. Thispaper offer an understanding of CSR, identifies the differences between traditional and strategic CSR andexplores the concept and benefits of ‘strategic CSR’. It concludes that businesses need to integrate the socialresponsibility and environmental challenges in to their core business strategy to become a good corporate citizen.In other words, by strategically practicing CSR, a company can make a profit and make the world a better placeby supporting sustainable development at the same time.Keywords: Strategic CSR, business strategy, competitive advantage, social integration.