Journal of Entrepreneurship Research

Journal of Entrepreneurship Research

Integrating Social Responsibility into Strategic Management Accounting for Business Development

Document Type : Research Article

Authors
Amir Mohebbi 1
Farzin Rezaei 1
Mahdi Beshkooh 1
Gholamreza Kordestani 2
1 Department of Accounting, Qazvin Branch, Islamic Azad University, Qazvin, Iran.
2 Department of Accounting, Imam Khomeini International University, Qazvin, Iran.
10.22034/jer.2024.2036254.1162
Abstract
Introduction: In recent decades, businesses have faced growing pressure from stakeholders to adopt corporate social responsibility (CSR), driven by increasing emphasis on non-economic values and long-term relationships. Companies are now expected to generate economic value while positively impacting society and the environment. Consequently, CSR has emerged as a pivotal concept in business management. However, existing research provides limited insight into the relationship between CSR initiatives and management accounting techniques in enhancing organizational performance. This study investigates the role of CSR in management accounting and its influence on financial returns. Specifically, it analyzes how social responsibilities affect business performance and introduces strategic management accounting as a tool to amplify these effects, offering deeper insights into CSR’s critical role in implementing and evaluating socially responsible practices.
Methodology: This research adopts a mixed-methods approach, integrating qualitative and quantitative phases. The qualitative phase employs the Delphi method to gather and analyze expert opinions, establishing consensus on key variables influencing CSR. The quantitative phase utilizes MICMAC analysis (Matrix of Cross-Impact Multiplications Applied to Classification) to assess the interactions between driving forces and key factors shaping CSR. By combining these techniques, the study provides a comprehensive evaluation of the interdependencies among variables and their impact on successful CSR implementation.
Findings: The findings reveal that integrating CSR into business strategies significantly enhances both financial and social performance. Organizations prioritizing CSR foster stronger stakeholder relationships and greater customer loyalty. The research underscores that CSR initiatives not only improve stakeholder engagement but also contribute to superior financial outcomes. These results highlight that CSR generates economic value while strengthening social and environmental sustainability.
Conclusion/ Implications: This study demonstrates that CSR-focused management strategies can substantially improve companies' financial and social performance. Embedding social responsibilities into core business activities strengthens stakeholder ties, boosts customer loyalty, and enhances corporate reputation. To leverage these benefits, businesses should integrate CSR into strategic planning and cultivate organizational awareness through employee training and cultural development. Establishing CSR as a core value fosters employee commitment and facilitates effective strategy execution. Ultimately, prioritizing CSR in long-term strategies enables sustainable development, driving competitive advantage while improving financial and societal outcomes.
Keywords
Social Responsibility
Accounting
Management Accounting
Social Mission

Subjects

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  • Receive Date 22 September 2024
  • Revise Date 08 December 2024
  • Accept Date 08 December 2024