- When the company is a member-owned business, rather than an investor-owned business, and communicates a corporate social responsibility (CSR) message, it evokes stronger purchase intentions.
- If they seek to optimize their CSR communication strategies, member-owned businesses should highlight their governance mode in their CSR communications, but investor-owned businesses generally should not.
- A CSR message is as powerful for influencing attitudes as is a message based on quality.
- In the banking field, European law increasingly imposes pricing and offer-alignment restrictions on competitors, so CSR may be a good alternative that can make the difference in consumers’ mind.
Investors, suppliers, consumers, and business partners increasingly require companies to integrate social and societal concerns beyond the economic sphere, such as environmental protection, safe working conditions, and the development of communities. Such requirements also encourage the development of notions of corporate citizenship, corporate social responsibility (CSR), and sustainable development. Various companies, from Starbucks to Victoria’s Secret to Crédit Agricole, engage in corporate social activities by investing in charitable causes or environmental protection (Drumwright, 1994) and highlighting their prioritization of such activities (Sen and Bhattacharya, 2001).