Assignment | Corporate Social Responsibility of Boral Ltd

Running Head: CORPORATE SOCIAL RESPONSIBILITY OF BORAL Ltd
Corporate Social Responsibility of Boral Ltd
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1Corporate Social Responsibility of Boral Ltd
Executive summary
Corporate social responsibility (CSR) is now the area of discussion worldwide especially in
Australia. CSR requires considering of all the stakeholders, social and environmental factors. In
this topic an overview of CSR of Boral limited and its various details are given. Then it includes
both internal and external affairs of CSR policy. Further its benefit to the company and to the
society as well.

2Corporate Social Responsibility of Boral Ltd
Table of Contents
Introduction......................................................................................................................................2
Effectiveness....................................................................................................................................2
Benefits............................................................................................................................................3
Conclusion.......................................................................................................................................3
Reference list...................................................................................................................................5

3Corporate Social Responsibility of Boral Ltd
Introduction
CSR also known as corporate social responsibility is a concept where companies take
initiative in social and environmental programs and practices in their entity operation along with
all the stakeholders. CSR helps the business to increase long term profit by making them more
efficient and high goodwill. CSR has now grown popularity in worldwide by increasing interest
from both internal and external corporate sector. Boral limited has faced external pressure from
non-governmental organization to provide accountability and transparency especially in the area
of environmental factors and human rights. Government also supports the changes to develop
consumer’s interest in CSR (Marquis and Qian, 2013).
Effectiveness
In Australia this practice is well recognized in the business community. It aims to create a
positive effect and achieve positive results on the society while maximizing the value of the
business. They are engaged in CSR for many reasons that help them to operate now and in future
by acknowledging the area of harm, risk and opportunities that may affect them. Effective
management in both internal and external activities helps the company to get benefit through
improved research and development, employee development, relation with government, and risk
management. The key success factor of Boral limited CSR policy is that they have a proper
internal system which create and apply CSR policies and procedure effectively (Crane, Matten,
and Spence, 2019). Its proper implementation can bring many competitive advantages such as
increased sales percentage, profit percentage, saving of operational cost, increase brand image
and goodwill, consumer’s loyalty and better decision makings.

4Corporate Social Responsibility of Boral Ltd
Benefits
Boral limited a brick and mortar business gets some advantage from the implementation of
CSR which includes:
 Increase employee loyalty – Employees are part of corporate social responsibility. By
providing better and encouraging jobs opportunities which increase employee’s loyalty
and productivity (Grayson and Hodges, 2017).
 Increase goodwill – A good CSR helps to get publicity and give a business a proof of
their conduct.
 Environmental consciousness – CSR includes environmental programs like reducing
wastes, recycling and other best activities to protect the environment. Using renewal
energies and other products to support environmental green movement boost the business
(Tai and Chuang, 2014).
 Social concern – Doing something for human cause like fight for poverty, help victims of
HIV, earthquake, flood, and hurricane shows concern of a business toward consumers
creates modern interconnected world.
 Local community – Involving in local projects through donation, providing employees or
through advertising and promotion shows CSR in the locality.
 Long term financial benefit – CSR helps a company to get easily access of finance, attract
positive media action and also helps to develop new products or services (Cheng,
Ioannou, and Serafeim 2014).

5Corporate Social Responsibility of Boral Ltd
Conclusion
At present Boral limited incorporated the CSR program at a fundamental level however
still they have doubt of whether they can embrace the broad and multifunction of CSR. There are
few companies using CSR to increase goodwill and plan different product marketing ways
whereas many companies uses old financial and high authority model as the source of their
planning (Khan, Muttakin and Siddiqui, 2013). There is no such rule and regulation which
governs the CSR. The more the entities will understand the growing reputation and values the
more opportunities are obtained which will connect them with the world. CSR is now become a
very much integrated part of the global business platform (Tai and Chuang, 2014).

6Corporate Social Responsibility of Boral Ltd
Reference list
Cheng, B., Ioannou, I. and Serafeim, G., 2014. Corporate social responsibility and access to
finance. Strategic management journal, 35(1), pp.1-23.
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Deng, X., Kang, J.K. and Low, B.S., 2013. Corporate social responsibility and stakeholder value
maximization: Evidence from mergers. Journal of financial Economics, 110(1), pp.87-109.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Khan, A., Muttakin, M.B. and Siddiqui, J., 2013. Corporate governance and corporate social
responsibility disclosures: Evidence from an emerging economy. Journal of business
ethics, 114(2), pp.207-223.
Marquis, C. and Qian, C., 2013. Corporate social responsibility reporting in China: Symbol or
substance?. Organization science, 25(1), pp.127-148.
Servaes, H. and Tamayo, A., 2013. The impact of corporate social responsibility on firm value:
The role of customer awareness. Management science, 59(5), pp.1045-1061.
Tai, F.M. and Chuang, S.H., 2014. Corporate social responsibility. Ibusiness, 6(03), p.117.
Unit, B., 2015. Corporate social responsibility.