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Title: PHILANTHROPY, PARTNERSHIP, PROFIT: A MULTISTAKEHOLDER REVIEW OF CSR INITIATIVES
Authors: Abhyudai Vishisht
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Abhyudai Vishisht The Heritage School
MLA 8 Vishisht, Abhyudai. "PHILANTHROPY, PARTNERSHIP, PROFIT: A MULTISTAKEHOLDER REVIEW OF CSR INITIATIVES." Int. j. of Social Science and Economic Research, vol. 8, no. 9, Sept. 2023, pp. 2707-2713, doi.org/10.46609/IJSSER.2023.v08i09.015. Accessed Sept. 2023. APA 6 Vishisht, A. (2023, September). PHILANTHROPY, PARTNERSHIP, PROFIT: A MULTISTAKEHOLDER REVIEW OF CSR INITIATIVES. Int. j. of Social Science and Economic Research, 8(9), 2707-2713. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i09.015 Chicago Vishisht, Abhyudai. "PHILANTHROPY, PARTNERSHIP, PROFIT: A MULTISTAKEHOLDER REVIEW OF CSR INITIATIVES." Int. j. of Social Science and Economic Research 8, no. 9 (September 2023), 2707-2713. Accessed September, 2023. https://doi.org/10.46609/IJSSER.2023.v08i09.015.
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ABSTRACT: Companies are going beyond the traditional marketing mix to incorporate corporate-level intangible assets such as their identities and reputations, as well as the goodwill associated with being a good corporate citizen, into their marketing initiatives. These organizations do this in order to gain sustainable competitive advantages in this era of global competition, declining brand differentiation, and increasing media clutter (Sen, 2006). Corporate Social Responsibility (CSR) and the multistakeholder approach are extremely integral in understanding the role of business in society (Kakabadse, Rozuel, & Lee-Davies, 2005). Corporate affiliations are the new realm for stakeholders; more organizations than ever before are striving to use the relationships that stakeholders have with them in order to obtain persistent strategic advantages over their competitors (Sen, 2006). CSR is part of a long-term economic benefit perspective that may not be financially measurable but may create a valuable asset for future profitability and, eventually, "social power."

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