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Corporate Social Responsibility (CSR) across the Value Chain as a New Form of Risk Management

Corporate Social Responsibility (CSR) has rapidly surfaced as one of the most "strategic" areas in business management, yet most organizations still have a tough time proving the value it brings to their overall sustainability and financial performance.
No matter their size, sector or region of operation, organizations instinctively react to the positive influence community and environmental related initiatives attribute to their brand, but the issue remains the incapability to measure that influence and prove it has a direct effect in improving revenue and market share.
In my introduction, I purposely quoted the word "strategic" because it seems that everywhere I look I see it being used by most executives and associated to pretty much any effort that has a social or an environmental focus. "Strategic" certainly sounds like a strong word, characterizing any effort that has been thoroughly thought through, assessed and prioritized. But is that really the case for most organizations? The reality is certainly not, as one of the most common comments of executives is their incapability to secure funding for relative initiatives. If something (initiative/program) is of "strategic" importance then it has been extensively reviewed internally and received the necessary budgetary allocation needed to be apportioned for its sustained maintenance and monitoring. So this brings up the question, "why have organizations been unable to make the business case for Corporate Social Responsibility?"
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