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CSR and Strategic Management Processes

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Please explain the following questions:

What is corporate social responsibility? How does corporate social responsibility relate to an organization's mission statement and to its strategy?

What is the role of each component of the strategic management process in determining over all enterprise performances?

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Solution Summary

This solution discusses corporate social responsibility and how corporate social responsibility relates to an organization's mission statement and strategy. This solution also discusses the role that each component plays in the strategic management process in relation to enterprise performance.

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What is corporate social responsibility?

Corporate social responsibility (CSR, for short), is comprised of the policies, procedures, and activities that make up the company's social identity. Each company forms this social identity, and by doing so, increases their social awareness. There are many investors and customers who will only patronize companies that have established CSR programs. CSR programs show initiative, responsibility, and excellent corporate stewardship. Many companies take upon various initiatives as part of their CSR programs, such as cleaning up the environment, or improving employee safety to extensive measures, and so forth. CSR shows the attitude and morals of the company, and it also is a strong indicator of the type of ...

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