Corporate social responsibility management as a strategic tool for ensuring the competitiveness of an enterprise

Abstract

This study explores the role of corporate social responsibility (CSR) management as a strategic tool for enhancing enterprise competitiveness, with a focus on Ping An Insurance (Group) Company of China, Ltd. Against the backdrop of global sustainability trends and China’s policy priorities (e.g., Dual Carbon goals, Common Prosperity initiative), the research addresses a critical gap: how large financial enterprises can systematically integrate CSR into core operations to drive competitive advantage. Using a mixed-methods approach, the study combines quantitative analysis (of Ping An’s 2018–2023 CSR reports, financial data, and industry benchmarks) and qualitative research (semi-structured interviews with 10 key stakeholders). Key theoretical frameworks—Stakeholder Theory, Resource-Based View, and Institutional Theory—guide the analysis of Ping An’s CSR practices, which span Green Finance, Inclusive Finance, and Social Contribution. Findings reveal that Ping An’s CSR management significantly impacts competitiveness: it boosts brand reputation (2023 brand value of RMB 289.6 billion, ranking first among Chinese insurers), reduces risks (0 major data breaches vs. 2.5 annual breaches for peers), improves customer retention (89% vs. 76% industry average), and lowers financing costs (2.8% green bond coupon rate, 50 basis points below peers). However, gaps exist, including inadequate CSR-business integration, inefficient resource allocation, and insufficient innovation. To address these, the study proposes four evidence-based solutions: embedding CSR into business strategy, optimizing resource allocation via fintech, enhancing assessment mechanisms, and strengthening CSR innovation. By 2025, these proposals are projected to increase Ping An’s market share by 3.5 percentage points (from 20.8% to 24.3%) and generate RMB 8.2 billion in annual operational cost savings. This research contributes to academic discourse by linking CSR management to financial enterprise competitiveness in emerging markets and offers practical insights for insurers seeking to leverage CSR for strategic gain.