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Status已发表Published
TitleBusiness strategies responding to COVID-19: experience of Chinese corporations
Creator
Date Issued2021
Source PublicationCorporate Governance (Bingley)
ISSN1472-0701
Volume21Issue:6Pages:1072-1099
Abstract

Purpose: This paper aims to investigate the corporate social responsibility (CSR) initiatives adopted by Chinese firms during the outbreak of COVID-19. Facing this unknown, unexpected and devastating disease, Chinese corporations demonstrated their CSR in different approaches. The purpose of this paper is to explore how CSR influences the decisions of the corporations that respond to a severe incident and how corporations can achieve their mission or strategic objectives by responding to a serious incident. Design/methodology/approach: Based on secondary data and thematic analysis, this paper examines six Chinese corporations which are the leading firms in their respective industries. Findings: This paper finds that firms adopted a mixed approach to conducting their CSR initiatives, including altruistic, strategic and citizenship CSR initiatives. This paper also confirms that strategic CSR initiatives were in line with the five dimensions of strategic CSR including centrality, specificity, proactivity, visibility and voluntarism. In addition, this paper also shows that a company could create its competitive advantage by carrying out CSR initiatives that are able to strengthen its value chain activities or the competitive context. This is based on the partnership built by the firms with their stakeholders to recognize the shared value. Practical implications: This paper shows the implication that business leaders should understood the role of a business in society and the importance of stakeholders’ expectations. The underlying philosophy is that CSR could strengthen the resilience of society; business organizations need to operate in a healthy society. Originality/value: This paper provides insights of Chinese corporations responding to a severe social incident. It highlights the strategic perspective of CSR initiatives and the linkage between CSR activities and a firm’s competitive advantage.

KeywordCompetitive advantage Corporate social responsibility Stakeholder management
DOI10.1108/CG-10-2020-0475
URLView source
Indexed ByESCI
Language英语English
WOS Research AreaBusiness & Economics
WOS SubjectBusiness
WOS IDWOS:000669583500001
Scopus ID2-s2.0-85108988486
Citation statistics
Cited Times:13[WOS]   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
Identifierhttp://repository.uic.edu.cn/handle/39GCC9TT/6078
CollectionFaculty of Busines and Management
Corresponding AuthorWu, Minyu
Affiliation
1.Division of Business and Management,BNU-HKBU United International College,Zhuhai,China
2.Department of Business and Management,BNU-HKBU United International College,Zhuhai,China
First Author AffilicationBeijing Normal-Hong Kong Baptist University
Corresponding Author AffilicationBeijing Normal-Hong Kong Baptist University
Recommended Citation
GB/T 7714
Wu, Minyu,Kong, Kun. Business strategies responding to COVID-19: experience of Chinese corporations[J]. Corporate Governance (Bingley), 2021, 21(6): 1072-1099.
APA Wu, Minyu, & Kong, Kun. (2021). Business strategies responding to COVID-19: experience of Chinese corporations. Corporate Governance (Bingley), 21(6), 1072-1099.
MLA Wu, Minyu,et al."Business strategies responding to COVID-19: experience of Chinese corporations". Corporate Governance (Bingley) 21.6(2021): 1072-1099.
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