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Firms are placing more emphasis on sustainability, prompted by increasing pressure to divert focus from profit generation and take more interest in society and the environment. In the case where the goals and intentions of corporate social responsibility (CSR) have been reoriented to fit a paradigm of strategic CSR, companies are receptive to the government initiatives in order to make CSR practices more strategic in nature. The economic and social effects of this can be evaluated by carrying out CSR activities in a context where private firms, the social sector and the government are in collaboration with each other. In this way, social issues can be better tackled through the lens of providing aid or services with sustainable impact. In addition to that, The Central Bank of Malaysia and its Value-Based Intermediation (VBI) approach is a strategic attempt by the government to ensure that there is value in the effects of a company’s social responsibility undertakings, and consequently allowing for this valuable impact to be sustainable for the socio-economic welfare of the community. The present study emphasizes strategic collaboration in the context of VBI methods. This is illustrated through ‘CSR-VBI’ e-canvas, whereby it was developing specifically for the organization to develop its CSR project as well as measure their impact, doing so it promotes the proactive approach of CSR which is crucial to the organization for sustainability goals. Then, in order to reinforce the impact of VBI in the collaborative dynamic, it is posited that waqf orientation should be put in place to fortify the strategic effects from the corporate collaboration, and ensure that these results are consistently perpetuated in a manner, which is beneficial to the socio-economic growth of the company and its surrounding community in the future. In relation to this issue, the current study has conceptualized the role of Waqf Orientation as a moderator in the dynamic between strategic collaboration towards sustainability. This is prompted by the inconsistent meaningful results in research related to strategic performance in a collaboration with the aim of sustainability.
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- Enhancing Strategic CSR for Sustainability Through Moderating Effect of Waqf Orientation: A Solution Through CSR-VBI Canvas
Siti Sara Ibrahim
Abd Halim Mohd Noor
- Springer Singapore
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