**3.2 CSR as value innovation: reducing costs**

Within the project cycle, how companies respond to the conflict has a significant influence. In the early stage of the cycle, leading firms are bound to withdraw from an investment (which may infer diminished social and environmental effects or the shift of effects on another area) and consider a foundational realignment of the project. On the other hand, at the late stage in the cycle, firms are bound to suit the plan or aggregate social responsibility projects, which provides impact compensation instead of reduction [6].

Likewise, lower costs, improve efficiencies, and add competitive advantages to public companies looking for investors at the Stock Markets are the effects of CSR activities focused on sustainability. A vast number of benefits arise for organizations who engage in CSR activities increased brand value, healthier and safer workforce, and larger access to finance. Consequently, five key benefits of CSR are presented by Solihin [7] for a firm to achieve social responsibility to both stakeholders and the environment: sales and market share growth, solid and strong brand positioning, corporate image growth, lessen operational costs, corporate appeal growth for investors and financial analysts.
