Corporate Social Responsibility through Sports

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Added on 2020-09-03

Corporate Social Responsibility through Sports

Added on 2020-09-03

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CORPORATE SOCIALRESPONSIBILITY THROUGHSPORTS

ContentsINTRODUCTION...........................................................................................................................1Application of public Cypriot companies as part of CSR programs...........................................1Different industries have different approaches to CSR through sport.........................................3Extent to which Cypriot listed companies use sport for their corporate social responsibilities..5REFERENCES................................................................................................................................7

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INTRODUCTIONThis is an important chapter that enables to develop in depth understanding for thecurrent research topic. There are many other researches that are carried out on similar topic. Theanalysis made can help in considering that aspects that are covered in these areas. As per thecurrent findings, main areas of study carried out are drawing the corporate social responsibilitiesframework of Cypriot companies that are listed on Stock Exchange that consists of sport in theirphilosophy. Application of public Cypriot companies as part of CSR programsAccording to Fernandez-Feijoo, Romero and Ruiz, (2014) management of spot isdetermined to be an important area for business. Further, it helps to develop interest amongpractitioners in recent times to incorporate sport in their social benefits in society. This way, thetype of relationship that is maintained by business and sport around the phenomenon is known asCSR (Goergen, Chahine and Brewster, 2016). In other words, corporate social responsibilitiesare known to be the commitment and these are ethical towards legal obligation. Sports have theunique mobility and are effective enough to attract people. As per Nikpour, Bakhshinejad and Ajdar, (2017) the rate of preferences that are carriedout by individuals towards CSR. There is increased pressure that is face by companies, they areexpected to there. These type of policies are taken into consideration due to increased pressure toconsider roles in society. In accordance with the recent trends, it is identified that most of thecompanies have increased scrutiny towards business ethics and demand of customers. This isdone by integrating CSR in to business operations. As per one of the reports that were publishedin the year 2009, it was identified that about 80% of large companies published CSR report(Ortas, Gallego‐Alvarez and Álvarez Etxeberria, 2015). With this strategy, firms are able todevelop positive perception. By making use of these strategies are helpful to attain competitiveadvantages, develops brand loyalty. Apart from this, CSR has become an important tool and arelevant part of systematic corporate strategy. These type of activities can be effectivelyimplement when use of proper planning is done. Further, all the workers within the organizationshould have appropriate knowledge and understanding for the same. When information is notprovided to workers, then it causes issues and the rate of trust they have get reduced (Kassinis,Panayiotou and Katsifaraki, 2016). In addition to this, CSR aim to influence economic,1

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Corporate Social Responsibility through Sports