Running head: CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility Name of the Student Name of the University Author Note
CORPORATE SOCIAL RESPONSIBILITY 1 Table of Contents Introduction:..............................................................................................................................2 Literature Review:......................................................................................................................3 Analysis of the NOKIA Case Study:.............................................................................................6 Discussion and Conclusion:........................................................................................................9 References:...............................................................................................................................12
CORPORATE SOCIAL RESPONSIBILITY 2 Introduction: The CSR or the Corporate Social Responsibility is a management concept in which the organizations include the environmental and social concerns in the business of them (Schwartz 2017). Also, the stakeholder interactions are integrated into the business operations. The CSR can benefit an organization or a company in a variety of ways. The Corporate Social Responsibility helps the organization to improve its public image, increase the coverage of media, boosts engagement of employees and retains and attracts new investors for the organization (MARKET 2018). Though the CSR provides various benefits to the organization, it has several key issues also. The organization faces several issues regarding the CSR which includes eco-efficiency, stakeholder management, working conditions, labour standards and environmental management. In this document for critically review the corporate social responsibility, the case study of NOKIA has been selected. While evaluating the case study of the NOKIA the main challenges found regarding the CSR is the stakeholder management challenge. In this case, the stakeholder was the customers. The chosen challenge is very much significant in this case because the customer is the most important aspect in every organisation. Without proper customer service and satisfaction, the organisation will not generate any type of revenue as most of the profit comes from the customers. The main reason behind choosing the case of the NOKIA is elaborating the significance of the corporate social responsibility. In the past, it was seen that the NOKIA faced a huge loss in the market due to choosing the Windows operating system over the Android operating system for their mobile devices. Due to the selection of the Windows operating system they were not able to provide the vast functionality which was provided by the Android operating system at that time. For this reason, the customers of the NOKIA remains unsatisfied when they compared themselves with the Android users, and due to this, the NOKIA faced a huge loss in the international market. For this reason, in this document the case study of the NOKIA has been selected with the consumer or customer stakeholder.
CORPORATE SOCIAL RESPONSIBILITY 3 Literature Review: According to the Tai and Chuang (2014), the implementation and the perspective of Corporate Social Responsibility or the CSR have several important significances for big and multinational enterprises. This importance is related with the FDI in the fostering development. All the implications have been addressed by the authors who have paid attention to the passive and active ways of the CSR. In this way, the Pre-MNEs and the MNEs are affected in sustainable development. As per the authors, the CSR generally influenced by four type of core components. These four components are the competitiveness, accountability, responsibility and transparency. The authors as showed the highlights the role of the information asymmetry and how the corporate social responsibility will be integrated into the organization's strategy of the differentiation.” According to Carroll (1996), the pyramid model of the CSR can embrace the whole spectrum of expectation of the society in the aspect of the business responsibilities. The corporate social responsibility is now represented as a language and has become very much vital. This has become vital in the sense that modern businesses need to make more money by obeying corporate rules. In this literature, the author has stated that the CSR’s nature is taking an approach related managerial decisions. In the formulation of the pyramid structure CSR basically acts as accommodative. In the modern movement of the CSR, the most important precursors place is taken by the emergence of social movements. As per the author the structure of the pyramid can be considered as the conjunction of different domains related with responsibility. The author stated the research implication of the CSR’s pyramid model that it act as a platform in which major research developments are done. For the research purpose most widely used research tool is the constant-sum instrument in the CSR pyramid which was deployed by the Aupperle.
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