Corporate social responsibility: Implications for performance excellence

Abstract

Corporate social responsibility has been an element of the Malcolm Baldrige Criteria for Performance Excellence since its inception in 1988. The Baldrige Criteria provide a framework for the design and improvement of high-performing organisations; as such, it implies that corporate social responsibility is an important factor for achieving performance excellence. Corporate social responsibility has garnered much attention from researchers over the past several decades, with most questions focusing on whether a company that is socially responsible is more likely to be financially successful. This paper examines the underlying corporate social responsibility value proposition within the Baldrige Criteria in comparison with current academic thought. We frame corporate social responsibility in terms of the underlying theories of firm management, review current academic thought and research, and draw conclusions on the relevance of corporate social responsibility for performance excellence in the Baldrige criteria. We conclude that even without direct, measurable empirical evidence, there is support in the literature that engaging in corporate social responsibility has a significant impact on performance.

Keywords:

• Baldrige Criteria
• business results
• corporate social responsibility
• performance excellence