Boosting Economic Growth: A Model for Industries and Companies Combining Corporate Social Responsibility and Strategic Management Accounting

Document Type : Research Paper

Authors

1 PhD Candidate, Department of Accounting, Qazvin Branch, Islamic Azad University, Qazvin, Iran.

2 Associate Prof., Department of Accounting, Qazvin Branch, Islamic Azad University, Qazvin, Iran.

3 Prof., Department of Accounting, Imam Khomeini International University, Qazvin, Iran.

10.22059/jibm.2024.378512.4807

Abstract

Objective
This research aims to deepen the understanding of how the integration of corporate social responsibility (CSR) and strategic management accounting (SMA) as a strategic approach can positively impact community culture, alleviate deprivation in communities adjacent to industries, and contribute to the economic and managerial development of companies and industries. This study explores how to combine these two areas and identify an efficient model based on this integration. The primary focus is on how organizations can use CSR strategies to improve their economic, social, and environmental performance. Additionally, this study seeks to offer solutions for enhancing social and environmental commitments to achieve sustainable development goals.
 
Methodology
This study employs a grounded theory method, a robust and effective approach in qualitative research. This method involves deep data analysis through field collection and interpretation. Data for this study was collected through semi-structured interviews with managers and experts from various companies and field surveys. The data analysis process follows the Strauss and Corbin approach and is conducted in three stages: open coding, axial coding, and selective coding. In the open coding phase, basic concepts and categories were extracted from the data. In the axial coding phase, these categories are divided into main and subcategories and linked together. Finally, a comprehensive theory is developed in the selective coding phase based on the relationships between different categories.
 
Findings
The findings indicate that industries and companies have a responsibility toward their communities and the environment. Industrial activities can negatively impact both people's lives and the environment. Therefore, industries must first address and compensate for any harm caused, and then focus on alleviating deprivation and fostering community development. This approach helps improve the living conditions of people and the environment while building trust and loyalty among local communities. The research also reveals that companies incorporating social responsibility into their overall strategy can reap long-term economic and social benefits. The results demonstrate that integrating CSR and SMA enhances organizational performance, increases stakeholder satisfaction, and promotes economic sustainability.
 
Conclusion
This research demonstrates that integrating CSR and SMA significantly enhances organizational and community performance, contributing to sustainability, social justice, and sustainable economic development. Companies should implement comprehensive strategies to improve social and environmental conditions, which not only support economic growth but also foster trust and loyalty among local communities. This strategic approach enables companies to achieve both financial and social objectives simultaneously, thereby strengthening their competitive position and improving their public image over time. The research underscores the importance of utilizing strategic management accounting tools to fulfill CSR goals and shows how an integrated approach can elevate the overall performance of organizations.

Keywords

Main Subjects

References

 
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Journal of Business Management
Volume 16, Issue 3
2024
Pages 641-666

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