Defining the Path to Sustainability Based on Triple Bottom Line Dimensions

ABSTRACT Corporate social responsibility (CSR) has been widely applied as a global approach, which reflects its origins as an umbrella concept. The extensive literature on CSR evaluates its three dimensions jointly and comprehensively, forming conceptual aggregates that fit into specific contexts, such as particular industrial sectors or geographic regions. To date, no studies have evaluated the dimensions separately to determine their specific contributions to CSR as a whole, which comprises a significant research gap. This study thus examined the relationships between the economic, social, and environmental dimensions to determine which links are stronger. Another objective was to find which dimension has the most powerful mediating effect on these direct relationships and thus generates more competitive advantages in terms of organizations' sustainability and strategic management. The sample comprised 230 small and medium‐sized Spanish companies that have implemented sustainability initiatives. A questionnaire was distributed by email to managers of companies already aware of CSR issues. The data were analyzed using partial least squares (PLS) supported by SmartPLS 4.1.0.0 software. The results reveal quite significant direct relationships between the three dimensions. Each area also has a positive mediating effect on the other links in the models tested. The findings extend the literature on CSR issues, highlight the dimensions' role as mediators, and indicate ways organizations can enhance their sustainability and strategic management. This research is novel because of its granular approach, which can produce more precise tools for designing corporate strategies aligned with stakeholders' needs and the United Nations' sustainable development goals.