This paper illustrates how CSR initiatives can deliver significant added value to the stakeholders involved. Especially multinational companies can initiate the creation of shared value among stakeholders by collaborating with universities in educational CSR initiatives and by aligning such initiatives with their business strategy and manage them with controlling methodology. Our analysis will be based on successful educational CSR projects of multinational companies implemented within the West University of Timisoara.
The practical implications for multinational companies are huge. Instead of engaging in CSR initiatives not related to their business strategy, our study illustrates how the value added can be increased by aligning CSR projects with the core business strategy. Furthermore, social implications of such initiatives are described by illustrating how other stakeholders could reach their complementary goals in this initiative.
The main contribution of this paper is to describe the success factors for educational CSR projects from a multi stakeholder perspective and illustrating the usage of controlling methodology on two successfully implemented case studies.