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How improved understanding of what constitutes “value” may lead to better underpinning of corporate social responsibility (CSR)

Neil Richardson (Leeds Business School, Leeds Beckett University Leeds, UK)
Michael Cassop Thompson (Leeds Business School, Leeds Beckett University Leeds, UK)

Journal of Global Responsibility

ISSN: 2041-2568

Article publication date: 26 May 2023

Issue publication date: 10 January 2024

306

Abstract

Purpose

The aim of this conceptual paper, predicated on a hermeneutic literature review, is to improve understanding of the nature of value continues to be extensively studied with its ability to create competitive advantage. Understanding what constitutes value improves corporate social responsibility (CSR) comprehension, including managerial CSR values. This paper aligns with studies into value and/or CSR, whether hermeneutic or otherwise.

Design/methodology/approach

This study provides a reflexively critical understanding of the value literature. It focuses on the “identifying” stage of a hermeneutic circle (identifying central terms, core journals and seminal authors). A hermeneutic helix is proposed to better reflect the need of constant re-interpretation of the relevant literature.

Findings

Themes include value location (value in exchange, value in use, value in meaning and value in context); architecture (pathways, constellations and networks); creation versus determination; and value types.

Research limitations/implications

This paper neither seeks to define value nor delve into the overarching value discourses. It does, however, refer to the antecedents for these areas. As a hermeneutic literature review, it lacks empirical testing.

Practical implications

CSR practices are strongly influenced by personal values. Hence, CSR practitioners must identify the processes involved and differentiate between the sought value and value types.

Social implications

The paper could engender better understanding gaps between stakeholder attitudes and practices, i.e. consumers self-identifying as “green” may not engage in ecologically sound practices. As discussed herein, the value sought by university students influences where (and what) to study.

Originality/value

Outdated notions such as value propositions are widely used; value may be proposed; however, only stakeholders can take value. What constitutes value is under-represented in the CSR literature. Hence, terms such as value and values (i.e. value types) are incorrectly used interchangeably.

Keywords

Citation

Richardson, N. and Cassop Thompson, M. (2024), "How improved understanding of what constitutes “value” may lead to better underpinning of corporate social responsibility (CSR)", Journal of Global Responsibility, Vol. 15 No. 1, pp. 1-18. https://doi.org/10.1108/JGR-10-2022-0115

Publisher

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Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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