Corporate responsibility (CR) used to focus mainly on preventing a firm's reputational damages, rather than integrating sustainable development imperatives. By bringing innovation into CR strategies, firms can create positive synergies between their core business and socio-environmental considerations. In order to promote innovation in CR, different processes of creative and imaginative thinking and mindsets promoted by diverse teams are critical. However, their role is not sufficiently discussed on the context of CR strategies. This chapter measures corporate commitment to CR through an evaluation of policies in three dimensions of environmental, economic and social sustainability. A cluster matrix analysis of CR strategy and diversity management strategy of 17 companies in the luxury sector reveal that the level of strategic commitment to CR has a close linkage with the inclusiveness of organisational culture. These results highlight the importance of diversity in human capital management for innovative CR strategies in the luxury sector.
|Title of host publication||Sustainable Luxury : Managing Social and Environmental Performance in Iconic Brands|
|Editors||Miguel Angel Gardetti, Ana Laura Torres|
|Place of Publication||Sheffield|
|ISBN (Electronic)||9781783532322, 9781783530625|
|Publication status||Published - 2014|