Original scientific paper
https://doi.org/10.1080/1331677X.2023.2201295
The interplay of strategy, corporate social responsibility and customer orientation in explaining firm performance: a stakeholder view
Ovidiu Niculae Bordean
Kathleen Welsh
Abstract
The link between strategy and performance is a well-established
topic in the strategic management field, yet few studies have
examined the role that corporate social responsibility (CSR) and
customer orientation (CO) have on this relationship. Using a stakeholder
theory perspective, the objective of this study is to explore
these relationships in the context of a transition economy. A sample
of Romanian firms was used and the data was tested using
partial least square structural equation modelling. The empirical
results present findings that while there is a significant relationship
between strategic planning and CSR, a significant relationship
was not found between strategic planning and performance,
nor between strategic planning and CO. However, a partially
mediated relationship was found between CSR, CO, and performance.
The conclusion is that the embrace of free-market practices
is still evolving in transition economies. The implication is that
over time learning and accumulation of related knowledge will
strengthen the interplay of these firm practices and result in
improved performance
Keywords
Strategic planning; corporate social responsibility; customer orientation; firm performance; mediation; transition economy; stakeholder view; structural equation model
Hrčak ID:
314875
URI
Publication date:
25.5.2023.
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