Thematic Issue On Corporate Social Responsibility

Running head: CORPORATE SOCIAL RESPONSIBILITIES
CSR in Microenterprises, SME and MNCs
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CORPORATE SOCIAL RESPONSIBILITIES
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Table of Contents
Introduction:....................................................................................................................................2
Explanation of a sustainable approach to business strategy and management:...............................2
Triple bottom line:.......................................................................................................................3
The Unilever Group:................................................................................................................3
Samsung Electronics Limited:.................................................................................................4
Citi Bank:.................................................................................................................................5
Samsung C&T Corporation:....................................................................................................5
CSR of micro businesses and SMEs:...............................................................................................6
Analysis of different approaches to CSR of micro, SME and corporate businesses:......................8
Similarities between their approaches:............................................................................................8
Differences:......................................................................................................................................8
Measure success in the CSR strategies:...........................................................................................9
Conclusion:......................................................................................................................................9
Reference:......................................................................................................................................11

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Introduction:
The term corporate social responsibility is an approach to business operations which aims
to benefit the organisations, their stakeholders and the environment. Wang et al. (2016) refers to
the term as, ‘a responsibility to society and a broader set of stakeholders beyond its
shareholders’. Grayson and Hodges (2017) make the discussion by mentioning the five areas of
CSR which business organisations have to ensure. They are responsibility towards its own
operations, responsibility towards employees, responsibilities towards the stakeholders,
responsibility towards the community or the society and responsibility towards the natural
environment. The term CSR in short refers to the responsibilities which business organisations
hold towards the stakeholders, themselves and the environment. The term stakeholders embraces
both internal and external stakeholders which also embrace shareholders. Raczkowski,
Sułkowski and Fijałkowska (2016) mention that CSR plays a very important role in the profit
generation of the business organisations since it enables them to position themselves as
responsible corporate citizens which in turn strengthens their goodwill. The business
organisations irrespective of industries, in order to strengthen their respective goodwill and profit
generations consider CSR as a part of the apex strategies. Kumar (2019) contradicts the benefits
of CSR and point out that it attracts several challenges before the business organisations
undertaking them. The aim of the report would be exploring CSR approaches different firms
adopt to achieve sustainability and challenges which they face in the area. The researcher in
order to conduct the research, would explore CSR approaches adopted by micro companies,
SMEs and multinational companies.

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Explanation of a sustainable approach to business strategy and management:
Corporate social responsibility is one of the most strategically important aspects of
business operations which business organisations today. The business organisations irrespective
industries they operate in adopt sustainable approaches as parts of business strategy and
management. They also take into account the aspect of ethics as a part of the sustainability
approaches. However, the approaches adopted by companies differ from some aspects while in
other aspects they are similar. One of the main approach which business organisations at large
adopt to operate in sustainable ways is triple bottom line.
Triple bottom line:
Triple bottom line is one of the most common sustainable approaches firms including
micro firms, SMEs and MNCs take. Hammer and Pivo (2017) define triple bottom line as the
approach which takes into account the economic, environment and social impacts of the business
strategies including financial investments. Tate and Bals (2018) mention that business
organisations are under pressure to give high returns on investments to the investors. However,
the importance of operating in sustainable ways in order reduce wastages and losses in order to
generate high profits cannot be refuted. That is why business organisations including small firms
today adopt TBL to achieve sustainability and profitability simultaneously. The following
section would explore the TBL applications in the business organisations ranging in sizes and
sectors of operations.
The Unilever Group:
The Unilever Group consisting of Unilever Plc. and Unilever NV based in the London,
the United Kingdom and Rotterdam, Netherlands adopts TBL heavily in its business strategies.
The company is the second largest FMCG multinational company with presence in over a