CSR at a Crossroads - Can CSR be a Source of Competitive Advantage? An Empirical Study of CSR and CSV Concepts in a Norwegian Context

The pressure for corporate and social responsibility comes from several directions, and firms are under pressure to create value for many different stakeholders. The old idea about maximizing shareholders wealth is under revision. Sustainability is very important for our global welfare, and the UN has established goals for sustainability and developed guidelines for CSR implementation that countries, universities, multinational corporations and NGOs are expected to follow. However, firms use different approaches in their attempts to create competitive advantage. While sustainability measures are certainly important in terms of reduced pollution, they may also help firms reduce costs and attract environmentally conscious consumers. Based on expert interviews we have collected data on how a selection of Norwegian firms view the importance of CSR for value creation and developing competitive advantage. There are few critical studies on how firms think and reflect on CSR in terms of value creation. The current study is based on four cases in different industries. Asko, one of the largest retail players in the Norwegian market owner of several food store chains, Borregaard - a well-established old industrial firm with. COOP East - the largest arm of the retail cooperative in Norway and Yara a global player in the fertilizer market. CSR is a at a crossroads. Are firms mostly concerned with greenwashing and cost reduction, or does CSR change their views of value creation? Can CSR be a source for competitive advantage? We will analyse how managers reflect upon their CSR practice. This is an empirical investigation in the practice of CSR and CSV concept in a Norwegian Context. The contribution from this study is a set of prepositions on how important CSR is to value creation and competitive advantage.