Importance of Corporate Social Responsibility

The provided document is a literature review on corporate social responsibility (CSR), emphasizing its importance for organizations to achieve their goals. It highlights how companies paying attention to CSR activities are able to earn more profit than those not active in social responsibilities. The review also covers waste management and proper disposal of harmful elements from production processes, serving as a reference for students seeking information on CSR and its impact.

Corporate Social Responsibilities

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
ASSESSMENT 2 ............................................................................................................................1
Literature review and its achievements-.....................................................................................1
Literature review on Corporate Social Responsibilities -...........................................................2
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Literature review is the evaluation and creating a summary of any literature given.
Literature review can be binding the vast information in short and few words. It is done to review
the literature published earlier and conclude on the basis of studies. Literature review on the other
hand includes the summoning of the strengths and weaknesses of the literature work. It helps the
audience to take the relevant data and reduces the time consumption in reading the whole
literature. This report contains the literature review and its achievements .
Furthermore the report will include the literature review on Corporate Social
Responsibilities. Thereafter the various views which are given by many authors in order to study
the Corporate Social Responsibilities. Corporate Social Responsibilities is the responsibility of
the company towards the social, political and economics conditions in which the company is
operating.
ASSESSMENT 2
Literature review and its achievements-
Literature review is the research report which includes substantive findings , theoretical
and methodological contribution to a particular topic. The literature review is done to evaluate
the literature work provided. The literature review is the making summary and synthesis of the
given literature which have been published already. Here summary means the recap of the
important information and synthesis is systematically arranging them in a organised manner. The
main types of literature reviews are- evaluative, exploratory and instrumental(Wharton ,2012).
Where evaluative review critically analysis the literature and evaluates the flaws in the literature.
Exploratory review states the explanation about the literature. Literature review can be
explanation of the old literature and combination of both new and old literature. In writing the
literature review the purpose is to write the knowledge taken from the literature and to convey the
strengths and weaknesses of that literature.
Literature reviews are written in all fields but it is mostly written in the sciences and
social sciences also in experiment results and lab reports. Literature review is a section of paper
in itself. Literature review acts as a summary for any literature which is to be studied , it helps in
reading overview and the important points in the literature. The literature review shows the
relevancy and truth worthiness of any literature work(Carroll, 2015).
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The professionals use the research paper based on literature review to keep them updated
in their respective fields. With the handful of papers of the respective literature work and its
summary make it easy for the professional to read the literature in less time
period(Wharton ,2012).
For scholars and researchers literature review is used to investigate about there research
paper which provides the background of the researches. It provides the comprehensive
knowledge of the research to be done which is most important to study the literature. Also it
provides a sharpened focus on the main outlines of the literature. It can be used to evaluate,
organize and synthesize the new research work so that it can be different from the old literature
work. By evaluation of the study the mistakes and omission in the earlier literature review can be
eliminated and quality report can be made(Hartmann ,2011).
In schools literature review is used by the teachers to make plans on the output , literature
review aims to guide and support in there literature work. It provides the necessary information
required by the teachers in there academic career. It also helps in the study of the right and
relevant topics so that there is no wastage of time studying the irrelevant information. As it
summarize the whole literature, than many other literature can be considered in a short time
period. By literature review there can be study of any similar research work which was done
earlier and there is no repetition of the same work again and again. Literature review makes the
literature easy for the audience to study the literature in short duration(Brammer and et.al.,2012).
Literature review on Corporate Social Responsibilities -
Corporate social Responsibilities is a business model which a company adopts to make a
good relations within the company, from its stakeholders and the public. Corporate social
Responsibilities includes the ways and the standards which a company follows in order to
maintain the its social, economic and political position in the economy. This is an obligation to
the company to maintain and compensate for the harm caused by the companies operations on
the environment. CSR activities can create a stronger bond between the employees of the
company and key personnels of the company (Frynas and et.al., 2016). The companies all over
the world is struggling to understand there social responsibilities as it is difficult with the rapidly
changing market expectations. To study the corporate social Responsibilities researchers have to
study a lot of study materials. Thus a literature review is being prepared to make it easy the vast
topic of CSR.
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Shah, Bhaskar (2010) states that there is a broad relationship between the company and
the society. The author has taken a case study of Bharat Petroleum Corporation Ltd. which is a
public sector undertaking. The study states that an organisation uses many factors from the
society which can be labour and other valuable resources from the society. Organisation exist due
to the society and cannot operate without the help of society. And in return the organization pays
to the society in the form of services and products provided by the organization ( Bhaskar and
et.al.,2010). In the case study of BPCL the author evaluates that company have taken many
initiative for the society.
Hartman (2011) article “Corporate Social Responsibility in the food factor”aims at
describing the importance of CSR in the food sector, specially the food companies with high
brand image. The author states that The CSR is very important and crucial part of there working.
But the SME's in this sector are less capable of discharging there social responsibilities. There
CSR includes that company should be aware of any harmful effects on the environment by the
companies activity. It is a social responsibility of the company to eliminate the hazardous process
in the company or to reduce its effect on the environment. Consumer prefers the companies
which fulfils there CSR requirements and pay attention to the society and there needs
(Hartmann ,2011). The companies also maintains there CSR obligation by formulating the plans
and policies in order to control and regulate the activities of the company. Thus increasing there
brand image and sales and services.
Brammer, Jackson and Matten (2012) study entitled as “Corporate Social Responsibility
and institutional theory: a new perspective on private governance ” in social economic review
states that CSR is beyond a voluntary action taken by the company. The author states that
corporate social activities are not only the voluntary activity but it is compulsory to maintain the
interface between the company and the society. The governance of these social activities are
important to keep the companies activities in control in relation to the society and environment.
(Brammer and et.al.,2012) The theory also suggested about the forms in which the company can
meet in its social responsibilities regarding the social, political and economic environment.
Wharton (2012) states that the relation between the company and the society. The author
stated the importance of of CSR, it states that the new generation companies will give the undue
importance to the CSR requirement as compared to the earlier companies. The company sees the
CSR as a medium of window dressing. The company having good CSR is considered more than
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the companies which are not following the CSR. The company following CSR are more
profitable in terms of money, human capital and other resources. The companies look forward for
CSR as a beneficial way to window dressing the companies and thereby increasing the reputation
of the companies. The companies aims at effective management of operating profit and there
investment in the functioning of CSR activities (Wharton ,2012). The governance of the
company on its activity and voluntarily involving in the corporate social responsibilities activities
in the society.
Archie B. Carroll (2015) aims at discussing the stakeholders engagement and the power
of ethically sensitive customers. The author denotes that the stakeholders takes interest in
investment in such company who have a good CSR background also the customers having the
social and environmental value will consider the company which is having CSR. With the
increase in practise of following CSR activities globally,it is forming and implementing the new
ideas and techniques to promote the social activities by the company. The author also emphasis
on the new technological changes in the CSR and innovation of new ideas in order to achieve the
organization CSR goals of new business framework and strategies (Carroll, 2015). Companies
now are aware of there responsibilities and know the importance of CSR thereby involving the
social activities in there policies and goals.
As per Lu, Zhao, and While, (2019) CSR scope is wider as it can be selective or
comprehensive. The author states that the companies are more conscious about there reputation
in the global market which is a major concern for all the companies. The CSR requirements have
become a basic need for a company to follow under the government regulations. The companies
adopt many policies like promoting the environment friendly business activities by contributing
towards the making of gardens, parks and involving the plantation of trees in the company
premises (Lu and et.al., 2019). Apart from this companies are using the natural and organic
products in the formation of there final products. The companies are also involved in the charity
and donation to the needy and helpless people of the society. Through these activities the
companies shows there contribution towards the corporate social responsibilities.
Therefore corporate social responsibilities are the prime responsibilities for an
organisation to propagate in the social environment. As there is direct connection of the company
and the society, any activities of the company effects the people thinking about the
company(Voegtlin and et.al., 2016). If the organization is more involved towards the social
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activities and care about the environment than in return people also promote the companies
products and services . Companies are also developing the methods through which it can educate
and trained the employees of the company to work better and without difficulties. This improves
the relation between the company and the employees which increases the efficiency of the
employees and in turn increasing the productivity of the company in whole(Corporate social
responsibility,2019).
CONCLUSION
Report conclude that the literature review is the repetitive study of the literature work.
Literature review helps in eliminating flaws which the earlier literature work contains. As the
literature review concerns with the in-depth study of any publication it evaluates the problems
with the literature piece. Thereafter the report conclude that corporate social responsibilities are
very important for the organization to achieve its goals and in perceptibility of the organization.
The literature review on the corporate social responsibilities by various other author states that
with the growing business in the economy and high competition the companies are paying more
and more attention to its corporate social activities. The companies which follow the social
responsibilities are able to earn more profit than the companies which are not active in social
activities. Companies are emphasizing on there waste management and proper disposal of there
harmful elements from there production process.
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REFERENCES
Books and Journals
Brammer and et.al., 2012. “Corporate Social Responsibility and Institutional theory: new
perspective on private governance”. Socio- Economic Review. Vol.10. Pp.3-28
Carroll, A. B., 2015. Corporate social responsibility: The centrepiece of competing and
complementary frameworks. Organizational Dynamics. 44(2). 87–96.
Frynas, J. G. and Yamahaki, C., 2016. Corporate social responsibility: Review and roadmap of
theoretical perspectives. Business Ethics: A European Review. 25(3). pp.258-285.
Hartmann, M., Klink, J. and Simons, J., 2015. Cause related marketing in the German retail
sector: Exploring the role of consumers’ trust. Food Policy. 52. pp.108-114.”. European
Review of Agriculture Research. Vol.38. No.3.Pp. 297-324
Lu, H., Zhao, Y. and While, A., 2019. Job satisfaction among hospital nurses: a literature
review. International journal of nursing studies.
Shah, Shashank., and Bhaskar, Sudhir., 2010. “Corporate Social Responsibility in an Indian
Public Sector Organization:A Case Study of Bharat Petroleum Corporation Ltd”. Journal of
Human Values. Vol. 16. No. 2.Pp. 143-156
Voegtlin, C. and Greenwood, M., 2016. Corporate social responsibility and human resource
management: A systematic review and conceptual analysis. Human Resource Management
Review. 26(3).pp.181-197.
Gautam, P., 2018. A STUDY OF CORPORATE SOCIAL RESPONSIBILITY STRUCTURE
and PRACTICES IN BPO INDUSTRY IN INDIA.
Wharton ,2012.“From Fringe to Mainstream: Companies integrate CSR initiatives into everyday
business”. An article Retrieved from Knowledge.
ONLINE-
Corporate social responsibility.2019.[Online].Available
Through.<https://www.ed.ac.uk/careers/your-future/options/occupations/csr/what-is-csr>
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