China Using CSR to Achieve Global Competitive Advantage
by Vikas Vij
Much like the rest of the corporate world, Chinese companies embarked on their CSR journey somewhat reluctantly, following a variety of societal and market pressures. However, they seem to be learning more quickly than many of their western counterparts that their futures are inextricably linked to their CSR performance, and have begun viewing it as a potential competitive advantage. China has understood that in the prevailing global political and economic landscape, CSR will help the country to become a leader, not a follower.
Chinese businesses have continued to expand globally over the last decade in terms of sales and financial assets, but the spotlight has increasingly been on their CSR performance. As a result, leading companies from China have been compelled to make a fundamental shift in their strategic thinking. Today, these companies, which seek to become globally reputable brands, view CSR as a critical element of their transformation.
Image Credit: Flickr via familymwr
Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.