Role of Corporate Social Responsibility in Strategic Management in Cambodia
DOI:
https://doi.org/10.47604/ijsmp.1935Keywords:
Corporate Social Responsibility, Strategic Management, CambodiaAbstract
Purpose: The study sought to analyze the role of corporate social responsibility in strategic management in Cambodia
Methodology: The research was conducted entirely on desktop review method. Secondary data, or data that doesn't require actual observation in the field, are the focus of desk research. Because it requires little more than an executive's time, telephone rates, and directories, desk research is generally seen as a low-cost strategy in comparison to field research. As a result, the research used data that had already been collected and reported. This secondary data was readily available via the internet's digital library and scholarly articles.
Findings: The results show that corporate social responsibility is an important part of the strategic management process and can be used to create value for stakeholders and create competitive advantage. Companies build trust and reputation and create positive relationships with customers, suppliers and investors. It is clear, therefore, that CSR plays an important role in the strategic management process and is essential for business success. CSR is an increasingly important concept in strategic management in Cambodia. There are a number of initiatives that businesses operating in the country can undertake to ensure that their operations are socially responsible and beneficial to the environment.
Unique Contribution to Theory, Practice and Policy: Future research in strategic management may be grounded in theories like stakeholder theory and legitimacy theory. Policymakers, researchers, and academics from all across the world will all stand to gain from this study's findings. The findings of the study will also be used by the country's top strategic management executives to boost the effectiveness of their organizations' programs and initiatives related to corporate social responsibility. According to the findings, the corporate governance sector would benefit from adopting strategic management strategies that have been shown to increase the effectiveness of key operations and activities.
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