Reshaping Corporate Social Responsibility under Vision 2030:

Assessing Saudi Women’s Participation in the Workplace

Ghuna Bdiwi

 

Abstract: Vision 2030 has reshaped the meaning of Corporate Social Responsibility (CSR) in the Kingdom of Saudi Arabia (KSA) by making it a central tool to implement the transformation agenda in partnership with corporations. Taking social contract theory and shareholder theory, this research views Vision 2030 as the social contract of change in the KSA. It emphasises the responsibility of investors and businesses towards every individual in Saudi society, encouraging transparency in conducting businesses to meet societal expectations. CSR, on that basis, is no longer a voluntary or philanthropic function or simply business ethics; it is rather a tool of corporate governance to enhance adherence to labour standards. The legal reforms promulgated by the Kingdom since 2016 were monumental, and they have helped corporations meet their social responsibilities. We assess the impact of Vision 2030 on women’s empowerment in the workplace by looking at how integrating CSR as a business strategy and a tool of governance has helped achieve the Vision’s target of motivating Saudi women and enabling them to be active contributors to the economy. We see CSR as a means of legitimacy for businesses in Saudi Arabia. Thus, we suggest that the Kingdom might want to consider a mandatory application of it for private businesses operating in Saudi Arabia.