First of all strategic CSR can help the firm with having financial success (Ven&Graafland, 2006). Krauthammer described that „CSR makes financial sense“, “a meta-analysis has revealed a link between the 'corporate social performance ' and their 'corporate financial performance '“ (Krauthammer, 2009, p.4). This financial success relies often on the saving of resources and the use of more efficient methods.
Moreover the firm gains a positive reputation if it uses the right CSR actions. Ven and Graafland say that „environmental stewardship creates a reputational advantage that enhances marketing and financial performance“ (2006, p.5). In addition „several other empirical studies show that a good social reputation facilitates the support of consumers to buy or refrain from buying goods“ (Ven&Graafland, 2006, p.5). This certifies that strategic CSR gives the opportunity to improve
Bibliography: Chandler, David, n.d., A Guide to Corporate Social Responsibility (CSR), UM Ethics Program, viewed 10 May 2010, Crane, Andy & Matten, Dirk, 2003, Business Ethics, Oxford University Press Ronnegard, Dr. David, n.d., Corporate Philanthropy vs. Strategic CSR in the GCC, bm Magazine, viewed 10 May 2010, Sainthouse, Paula, 2009, Corporate Social Responsibility (CSR) and PR, viewed 19 May 2010, Werther, Willam B. Jr.; Chandler, David, 2006, Strategic Corporate Social Responsibility: Stakeholders in a Global Environment, Thousand Oaks, CA: Sage Publications, Inc.