Creating shared value through strategic CSR in tourism
Camilleri, Mark Anthony
Literature review about corporate social responsibility (CSR) suggests that there are organisational benefits to be gained from unintentional discretionary expenditure in laudable behaviour. With this in mind, the methodology integrates insights from the ‘stakeholder theory’ and the ‘resource-based view theory of the firm’ to sharpen the strategic base for CSR investment. Quantitative and qualitative research techniques have been used to discover how business organisations are creating shared value for themselves and for society. The main study was carried out amongst hotel enterprises in Malta. The quantitative analysis tested the relationship between Strategic CSR (in terms of the organisational benefits) against the firms’ commitment, behaviour and resources devoted to CSR. Secondly the qualitative phase of this study involved an analysis of interviews with owner-managers across the Maltese hospitality industry and with experts who are responsible for setting policies in the tourism regulatory context. The results have indicated that responsible behaviour led to the firms’ financial performance and market standing, effective human resources management and operational efficiencies. Following the empirical findings a model representing the ‘creation of shared value’ for business and society has been put forward.