6. Redefining Corporate Social Responsibility

The relationship amid businesses and societies today is being reshaped owing to a relatively new mindset. Businesses are now aware that they are part of a system in society that interacts with different parts of other systems in that same society. Businesses are now aware that they need to work with these systems in order to successfully compete and position themselves as differentiated and distinguished entities within these systems. The chapter aims to tackle the effect of different types of social strategies adopted by businesses in the Middle East. It is very important that such strategies take into consideration their impact on society, corporate citizenship and corporate social responsibility. The trend in businesses today is to focus on the importance of business ethics and corporate philanthropy. Numerous factors are starting to take shape, relating businesses and societies to concerns such as globalization, rising power on consumers and growing unease about the corporate footprint on the environment. As a result, investing in corporate citizenship gives businesses a competitive advantage, as it shows that they are responsible leaders working to create a world that we want to do business with and live in as a society.