Corporate Social Responsibility (CSR) has becoming more and more important factor on business management. However, the definition of CSR is still vague and so corporations cannot obtain clear stance how to work on CSR. The purposes of this article are two. One is to answer the question what approach should corporations adopt for CSR, especially a view point of strategic management? I proposed the idea of corporate reputation as a resource which could produce sustained competitive advantage from the view of RBV (Resource Based View of the firm). And another is to examine the relationship between CSR and corporate profitability by using the method of QAQF (Quantitative Analysis for Qualitative Factors). The results showed that corporations classified as positively working on CSR did not necessarily obtain high profitability except for the items, child-care leave acquisition rate and female employee ratio.