4.2 Article

Corporate Social Responsibility as a Strategic Opportunity for Small Firms during Economic Crises

期刊

JOURNAL OF SMALL BUSINESS MANAGEMENT
卷 57, 期 -, 页码 172-199

出版社

TAYLOR & FRANCIS INC
DOI: 10.1111/jsbm.12450

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资金

  1. Ministry of Economy and Innovation [ECO2011-26171]
  2. Government of Extremadura, Business Research (INVE) Group [SEJ022]
  3. Government of Extremadura, V Action Plan 2014-2017

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The aim of this study is to analyze if there is a direct causal relationship between small firms' orientation toward corporate social responsibility and their competitive success, mediated by innovation and performance. A structural equation model has been applied to a sample of 758 small Spanish firms. The results indicate that, in times of economic crisis, socially responsible strategies are a determining factor in firms' competitiveness. Pragmatic advice for practitioners derives from research results, considering that social responsibility represents an opportunity for small firms in the complex and turbulent time. The findings encourage small firms to manage operations responsibly as a guarantee of market success.

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