Corporate Social Responsibility Report

This report provides a comprehensive literature review on Corporate Social Responsibility (CSR), examining its definition, benefits, and challenges. It analyzes various perspectives on CSR, its impact on businesses and society, and the ethical considerations involved. The report also discusses the role of CSR in achieving sustainable development and enhancing corporate reputation.

Study Skills for
Higher Education

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
1. Literature review & what does it achieve ...............................................................................1
Literature Review.............................................................................................................................2
2 Corporate social responsibility as per literature review............................................................2
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Literature review is the summary of preceding research which is associated to a specific
subject matter. In the research projects it is very helpful and researcher can take help of books,
articles, journals etc. and it develops the understanding about a particular topic. Corporate social
responsibility denotes that it is the responsibility of the organisations operating within society to
contribute towards economic, social & environmental development which makes positive impact
on society at large. It is the duty of corporation to involves in CSR activities for the social and
economic development and it increase the goodwill and market reputation of organisation. The
main topics which are covered in this report are as: the literature review & what does it achieve
and it also mention about literature review on the topic corporate social responsibility.
MAIN BODY
1. Literature review & what does it achieve
Literature review is used to know the views and suggestions of different individuals
about a specific topic. It is a secondary source which is used by the reader and it provide the
information and analysis of a particular topic. This is helpful to develop the proper understanding
and wider the knowledge in context to a specific area. Researcher can use articles, books,
journals, online sources etc. (Lins and Tamayo, 2017). There are various person who are expert
in different fields and have in-depth knowledge about a field such as: marketing, finance, history,
international business etc. So it is helpful for the reader to know the views of distinct persons so
that proper outcomes can be come up which provide help to find the solution of the issues or
problems. There are following things which are involve: to analyse the topic of research which is
associated to the task, summarise, classifies & integrate the information. Surveys the information
related to a particular mater.
By reviewing the literature, the thoughts can be clear that what things are to be
communicated and develops the insights about the work. So for the researcher it is very useful so
that work can be done effectively and as per the requirement. As a result, objectives can be fulfil
according to the need which enhance the quality of work. There are various purposes of literature
review such as: to wider the knowledge about the subject and it help the reader to understand the
topic which draw a valid conclusion. To analyse the contribution of source about the subject
matter of research. To save the time of researcher because it provides the guidelines that how the
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work has to be done and what are the important things which are needed to be consider. The
methodologies are identified that are used in prior research and provide help to analyse the
problem in order to fill the gaps (Lanis and Richardson, 2012).
Literature Review
2 Corporate social responsibility as per literature review
Corporate social responsibility denotes that it is the responsibility of organisations to
operate its functions within society that support social, economic & environmental development
which positively influence the society. There are various authors and individuals which states
about the term CSR and the activities which are associated with it. According to Eldomiaty 2018,
the frame work of corporate social responsibility involves reactive & proactive predictors of
actions and plans that classify as internal and external stakeholders. The strategy which are
related to it has linked with profitability. There is an obligation of company to perform the CSR
activities and it contribute for the development of society as well as country. Apart from this it
develops a framework by resolving the problems which involves inequality, unfair system etc.
As the firm use the resources of society which involves man, money, material, power, land etc.
so it is the duty of it to do something for the benefit of society and its people.
Corporate social responsibility is generally understood as being the way which helps the
organisation to achieve economic, social & environmental imperatives. There are various ways
to contribute in context to CSR. Some enterprise give donation to the poor people where as some
companies have involved in infrastructure development which is helpful for the development of
nation. There are various NGO's which are run by the firms for the welfare of people who lives
in the society. So there are various ways to contribute towards corporate social responsibility and
the corporations can select the most suitable way as per its convenience. As TBL approach has
been used which analyse & report the company’s performance against social, economical &
environmental performance. There is an attempt which is related to private enterprise in order to
achieve the objectives which are associated to sustainable global development (Corporate social
responsibility, 2019).
According to Hancock, CSR is emphasis to maintain freedom & democracy in order to
resolve the problems which arises at workplace and it involves: inequality at work, this issue
arises in the corporation when workforce has divided on the basis of sex, race and religion. As a
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result, workers get demotivated and does not want to work in the company. Unfair reward
system has been followed in some corporation which is not good because it demotivates the
employees. So it is important to provide incentives in order to encourage the staff so that they
can perform as per the requirement of firm. Discrimination & harassment are the issues which
are faced by the employees but not good for the enterprise it because staffs will not put
maximum efforts in order to achieve the goals and objectives.
According to Crowther 2018, CSR is the obligation which is mandatory for the
organisation (Crowther and Seifi, 2018). In the context of corporate social activities the company
has been contributed with compliance officer who is responsible to take care about the matters.
From the profits organisation have to contribute certain percentage towards the CSR for the
purpose of social development and welfare. In the case corporation does not have enough profits
because of suffering heavy loss. In this specific situation there is no compulsory obligation in
front of company to contribute for the welfare. When the profits have been generated than it can
pay for the CSR activities otherwise there is no compulsion regarding it. The companies law, set
the specific criteria which discuss about that how much amount of money is required to be
contributed for the purpose of corporate social responsibility. There are various rules and
regulations which are related to it and these are required to be fulfil.
According to Kitzmueller 2012, the ethics which are related to the CSR are required to be
followed and it is the responsibility of company to fulfil it. The ethics are needed to be analysed
properly in order to resolve the issues and conflicts which arises at workplace (Kitzmueller and
Shimshack, 2012). There are various policies which are related to it and these have to be focused
by the corporation. If an organisation has involved in CSR activities than market reputation and
goodwill will increase and it maximize the rating of the corporations. As the credit rating
companies will provide higher rating because of this factor. It helps the firms to take loan from
the financial institutions and banks because these institutions check the ratings and those firms
have higher credit rating than there are more chances that it will get the loan. There is a
responsibility towards the various stakeholders which involves owner, shareholders, investors
etc. So it is the duty of organisation to protect the interest of different stakeholders. There is a
specific criteria which is set by the companies act which states that how much amount is required
to be spend for the purpose of CSR related activities.
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As per Eldomiaty 2018, Corporate social responsibility is the framework which reflects
how the entrepreneurs manages the operations top produce the positive impact in the society
(Eldomiaty and Anis, 2018). It includes social impacts, sustainability and application of ethics in
appropriate manner. It is a continuous commitment of all the managers to frame the strategies in
such a manner which contributes in the ethical way for the development of society as well as
maintaining the image of the organisation in the competitive market place. It improves the
quality of living of the workforce, families and local communities in significant manner. They
further interpret that it is all about building capacities along with business opportunities to
respect the cultural differences and improving skills government, employees as well as
communities. It can be used as a philanthropic model for making profits, fulfilling duties towards
society up gradation. Social responsibility is a crucial object of any business in the wealth
creation process. If such objectives are properly managed and fulfilled, it helps in enhancing the
competitive level among the rival companies by maximising the wealth in the dynamic society.
A firm must be operated in such way meets as well as exceed the legal, public, ethical and
commercial expectations of different people living in the society. It is a voluntary concept which
contributes towards the cleaner and safer environment. Such framework is used by distinct
entrepreneurs to integrate the activities of business concerns for interacting with all the
stakeholders to fulfil as well as satisfy the expectations. Understanding and fulfilling social
responsibilities is the key towards the success. It is not legal requirement but a good practice to
overcome the social along with environmental issues. The awareness of consumers are
increasing towards the society. By performing the work ethically helps in increasing the brand
awareness as well as position in the competitive international market. Such sustainable systems
increase the engagement of customers, employees to achieve the desired results. The
responsibilities of the corporations include the abilities to overcome the issues pertaining in the
society and framing the strategies for the up liftment in the better world. It is the system of
regulations which helps in controlling all the problems for achieving high level control and
changing the perceptions of employees towards the society. CSR helps in analysing all the firms
that it is an opportunities, advantage and innovative function for attaining the success.
As a recommendation, it can be said that it is required for the organisation to fulfil the
obligations which are related to the corporate social responsibility. As company uses the
resources of society so it is the duty of it do to something for the welfare of society as well as
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country. As a result market value and goodwill of business will increase and which support the
growth of corporation. So it has been suggested that there is a compliance officer is required to
be appointed which take care the matters which are related to CSR.
CONCLUSION
As from the above report, it has been concluded that it is helpful for the researcher to take
help from literature review so that it can know the views of other persons about a same topic. It
is required for the organisation to perform the activities which are related to the corporate social
responsibility for the purpose of social and economic welfare & development. It is the obligation
of the companies to contribute towards the CSR activities.
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REFERENCES
Books and Journals
Aguinis, H. and Glavas, A., 2012. What we know and don’t know about corporate social
responsibility: A review and research agenda. Journal of management.38(4). pp.932-
968.
Bauman, C. W. and Skitka, L. J., 2012. Corporate social responsibility as a source of employee
satisfaction. Research in Organizational Behavior.32. pp.63-86.
Crane, A., Matten, D. and Spence, L. J., 2013. Corporate social responsibility in a global context.
Chapter in: Crane, A., Matten, D., and Spence, LJ,'Corporate Social Responsibility:
Readings and Cases in a Global Context.2.pp.3-26.
Crowther, D. and Seifi, S. eds., 2018. Redefining Corporate Social Responsibility. Emerald
Group Publishing.
Du, S. and Vieira, E. T., 2012. Striving for legitimacy through corporate social responsibility:
Insights from oil companies. Journal of Business Ethics.110(4). pp.413-427.
Eldomiaty, T. I., Soliman, A. and Anis, M., 2018. The Financial Aspects of the Corporate
Responsibility Index in Egypt.
Hoi, C. K., Wu, Q. and Zhang, H., 2013. Is corporate social responsibility (CSR) associated with
tax avoidance? Evidence from irresponsible CSR activities. The Accounting
Review.88(6). pp.2025-2059.
Kitzmueller, M. and Shimshack, J., 2012. Economic perspectives on corporate social
responsibility. Journal of Economic Literature.50(1). pp.51-84.
Korschun, D., Bhattacharya, C. B. and Swain, S. D., 2014. Corporate social responsibility,
customer orientation, and the job performance of frontline employees. Journal of
Marketing.78(3). pp.20-37.
Lanis, R. and Richardson, G., 2012. Corporate social responsibility and tax aggressiveness: An
empirical analysis. Journal of Accounting and Public Policy.31(1). pp.86-108.
Lins, K. V., Servaes, H. and Tamayo, A., 2017. Social capital, trust, and firm performance: The
value of corporate social responsibility during the financial crisis. The Journal of
Finance.72(4). pp.1785-1824.
Online
Corporate social responsibility. 2019. [Online]. Avilable through:
<https://www.businessnewsdaily.com/4679-corporate-social-responsibility.html>
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