Integrating CSR into Strategic Management: Case of Maharatnas

Abstract

Corporate strategy is a long term plan of action which strives to provide the business with the competitive advantage. In the times of growing awareness among the people about the global threats to ecosystem, the businesses need to integrate the corporate social responsibility into corporate strategy so that it can become the source of sustainable competitive advantage. Just as the company has the strategy for products, markets, and business growth, it needs to have a strategy for CSR so that it can become an integral part of company's operations at all levels. The paper attempts to study the role of ‘Maharatnas' towards CSR front and how they  are designing their business strategies taking into account three dimensions namely economic, social and environment.