Corporate Social Responsibility Research Paper 2022

Corporate Social Responsibility 1
CORPORATE SOCIAL RESPONSIBILITY
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Corporate Social Responsibility 2
Corporate Social Responsibility
Executive Summary
The purpose of the paper is to examine the corporate social responsibility (CSR)
strategies of Thai Beverage Company Limited (ThaiBev). This will include CSR activities that
are socially responsible educating responsibility, public health responsibility, and culture
responsibility, which have been implemented by ThaiBev. Companies are committing their
resources to CSR because it has become an important tool towards promoting the image of the
company and a tool to attract customers to the business. Customers want to be associated with
companies that place emphasis on CSR. CSR has become an important tool in allowing
companies to become competitive in the market towards maximizing profits and promoting its
image. ThaiBev has succeeded in promoting CSR activities both in domestic and overseas
markets. The company encourages its employees to promote ethical practices while undertaking
their assignments in different parts of the world. Therefore, CSR has become a cornerstone of the
company since its establishment in 2003 that has been attributed to strong leadership. The paper
will examine the role of CSR by looking at different models that include stakeholder theory,
Carroll’s pyramid of CSR and three-domain model of CSR.

Corporate Social Responsibility 3
Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................5
Theories and Framework.................................................................................................................6
Characteristics of Corporate social responsibility.......................................................................6
Shareholder Theory......................................................................................................................7
Carroll Pyramid of CSR...............................................................................................................7
Three-Domain Model of CSR......................................................................................................8
Corporate Social Responsibility (CSR) Strategies..........................................................................9
Social Responsibility....................................................................................................................9
Environmental Responsibility....................................................................................................12
Economic Responsibility...........................................................................................................14
Recommendations..........................................................................................................................15
Communication..........................................................................................................................15
Social issue selecting.................................................................................................................15

Corporate Social Responsibility 4
To make partnership with the public..........................................................................................16
Increase CSR activities..............................................................................................................16
Conclusions....................................................................................................................................16
References......................................................................................................................................18

Corporate Social Responsibility 5
Introduction
Presently, each business attempt to create value to their organization to attain the
profitable business activity, mission statement along with vision. The performance of product,
financial figure, shareholder and worker satisfaction is not only assessed and presented the
success of business, but too consumer satisfaction to fashion loyalty, as well as trustingly to
customer that is key factor to maintain and sustain strongly in market for long-term. The CSR is
an important strategy for many firms in creating their social image along with reputation to take
their responsibilities to society and also the involvement of clients in busbies process to become
common practice of many successful firms (Grayson, 2016, pp. 119).
Thai Beverage Public Company Limited (ThaiBev) was founded in 2003, with the goal of
integrating the founding shareholders’ along with investors’ leading businesses related to spirits
and beer into ThaiBev Group. ThaiBev was listed in the Singapore Exchange (SGX) in 2006 and
since then, the firm has grown its business from spirits to non-alcoholic drink to increase the
variety of brands, which ThaiBev offers, improve the efficiency of its logistics channels and
diversify the business risk. Currently, the company is not only Thailand primary producer, but
also one of the Asia’s biggest manufacturers. The company places a considerable stress on
developing and operating its business in a sustainable manner and is dedicated to continue doing
so in the long-term (Baden & Harwood, 2013, pp. 615). To make sure ThaiBev brands deliver
utmost “happiness” and approval to clients, the company places significance on product
expansion with the goal to respond to client demands. The company’s products are eco-friendly
and produced from top superiority raw materials undergone first-rate sophisticated
manufacturing technology that are hygienic, ecological, plus energy-saving. Hence, all the

Corporate Social Responsibility 6
procedures are tailored by the company to deliver the best products for clients. CSR is one of the
marketing strategies to support company to improve or sustain their performance in the
marketplace and to create the social image of changing attitude along with perception of Thai
consumers. The CSR campaign represents the recognition to reflect on the interested issue of
society by taking accountability to associate closer with the consumers (Moon & Orlitzky, 2011,
pp. 584).
Theories and Framework
Figure 1: Holistic Approach to CSR Practice
Characteristics of Corporate social responsibility