Issues and Benefits of Adopting Corporate Social Responsibility in Retail Sector: A Study on Mark and Spencer's
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This research project evaluates the issues and benefits of adopting corporate social responsibility within an organization in the context of the retail sector, with a focus on Mark and Spencer's. It includes a literature review, primary and secondary research, and recommendations for an action plan.
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RESEARCH PROJECT
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TABLE OF CONTENTS TOPIC..............................................................................................................................................3 INTRODUCTION...........................................................................................................................3 Background of the study..............................................................................................................3 Research aim and objectives........................................................................................................3 Research Questions......................................................................................................................4 Problem statement.......................................................................................................................4 Rationale......................................................................................................................................4 LITERATURE REVIEW................................................................................................................4 Theme 1: Understanding the meaning of CSR............................................................................4 Theme 2: Issues and challenges with CSR for retail sector.........................................................6 Theme 3: Advantage of adopting CSR practices.........................................................................8 Primary and secondary research..................................................................................................9 Critically review of research result............................................................................................15 Recommendation and Action plan.............................................................................................18 CONCLUSION..............................................................................................................................21 REFERENCES..............................................................................................................................23 APPENDIX....................................................................................................................................25
TOPIC To evaluate issues and benefits of adopting corporate social responsibility within an organization in context of retail sector- A study on Mark and Spencer’s. INTRODUCTION Background of the study Corporate social responsibility (CSR) are practices that are undertaken by the organisations to create positive influence on world. Firms have responsibility to do good for the society and to move forwards towards sustainability in order to reduce the carbon footprints from their operational tasks (Rashid and et.al 2020). CSR means that company must require to be self- regulate their actions and approaches to become more socially accountable to their different stakeholders, environment. CSR plays a significant role in developing the organisational brand perception, attractiveness to the consumers, workers and investors and give overall successful image to the business. There are four type of approaches which the company can proceed with which are to begin with environmental initiatives, community work, volunteer work and ethical practices for the labours. However, there are many firms who faces problem in implementing the CSR in their business functionalities. FollowingprojecthighlightsthestudyonMarkandSpencercompanyaBritish multinational retailer company, headquarter is present in London, England. They offer good range of products and services to their customer.Their product range covers the clothing, beauty, home décor products and other food products, they also have the different section for the luxury products that has the on fabric item with on trend elegant details. It is analysed that company have the 69,577 workforce as per the 2021 data.Following project coversthe research methodologies, literature reviews and aims or objectives of the study that helps in developing the understanding about the CSR values. Research aim and objectives Aim
The aim is todetermine the issues and benefits of corporate social responsibility within the Mark and Spencer’s. Objectives To develop an understanding about the concept of corporate social responsibility. To analyse various issues and challenges of CSR practices within the retail sector. To evaluate certain benefits of adopting corporate social responsibility within Mark and Spencer’s. To recommend strategies that enable the M&S to resolve corporate social responsibility issues. Research Questions 1.What is the meaning of corporate social responsibility? 2.What are the CSR issues and challenges faced by retail sector? 3.What are the benefits of adopting CSR practices by Mark and Spencer’s? 4.What are appropriate recommendations in context of strategies to adopt in order to handle CSR issues? Problem statement Issue has been identified that company is facing problem in adopting the CSR practices as it is difficult as environmental management, stakeholder’s engagement, human rights and so on creating major challenges for the organisation. As involving CSR is itself a biggest challenge for which the company require proper commitment and strategy to get benefit of it to smoothly run their business. Rationale Rationale behind conducting research on this topic is to bring concern about CSR in context with the M&S organisation. This study will help in fulfilling the loop holes which is found in previous study as Previously CSR concept was not in trend but now social values for the businesses is important(Lu and Wang,2021). This topic is becoming a major issue which the businesses are concern with also lack of participation from communities in such also a barrier. Therefore, it is important to have detailed information regarding topic to analyse its benefits and challenges associated with it.
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LITERATURE REVIEW Understanding the meaning of CSR According to theYoo and Lee,(2018)CSR refer as the international private business regulations that mainly aims to contribute towards the society and to account the responsibility to reduce the environmental impact and hence promoting good development in community. Its goal is to activate the charitable nature by engaging people and supporting various volunteer program or to practices the code of ethics. It plays a significant role for the organisation to provide the benefits in terms of longer productivity and potential customer base, where the businesses play their social responsibility to help community for the development and also follow some measure to control the pollution that are created by their operational tasks. It enables the businesses to embrace the CSR for becoming environmental friendly and encourage the equality and diversity at the work place to ensure the ethical and efficient business decisions. However, authorKim and et.al (2020)said that implementing CSR within businesses cost more as lack of resource availability which involve the human capitals, knowledge, finance resources plays a role of barrier to implement such practices. Lack of strategic mission and vision is another factor that hinders CSR implementation, as proceeding with CSR involves the major control of the processes which are working conditions, environmental, to prevent corruption, basic human rights. Thus all requires a proper strategy to begin with in order to incorporate with CSR practices. AuthorKucharska and Kowalczyk, (2019) stated that major purpose of CSR is to encourage the employee engagement, as if the businesses are more socially responsible then the greater engagement within workplace is found that guide in achieving the sustainable goals and objectives. Businesses have the dedicated CSR team that concentrates on charity work, to raise the fund various programs are conducts with the aim of involving the workforce towards the societal work. Such activities help in boosting the morale of employee and develop meaning for them outside of their work as well, it helps in mental wellbeing of the employees. Thus various charity programs held by the businesses helps in guiding the community towards development and their betterment, it develops the better relationship between community and organisation. Author also said that it helps the businesses in improvising their brand image, as it is found that almost 87 percent of the customers in UK market expects from the organisation to concern with
the societal impact, thus 70 percent of the people prefer buying from such organisation who are socially accountable. Therefore, it helps in building the better and efficient brand image which helps in driving the good revenues for the business as well as promote the better cash inflow in the market. However, authorWang, Lo and Lam, (2020)argued that It become more challenging for the businesses to begin with such strategies, for this they have to undertake major changes and to make their team to be more socially responsible and reduces the wastage and lay out the best utilisation of the resources. as to often go green with the product packaging requires a lots of investment which can give lots of pressure over the financial resources. better workforce team is also required to adapt the change and to make the desired sustainable goals achievable for their organisation. It is also important to look into the business values, visions and missions to identify which initiatives can be best align to the business objective and culture. CSR generally makes the businesses to stand out and to develop the better socially conscious reputation as it is clearly identified that stakeholders usually prioritize the CSR for selecting the certain products in the market. Furthermore, firms involve the CSR for the ethical purposes as far from the strategic perception CSR helps in enhancing the profitability rate. It also helps in developing good relation with the public and with the use of high ethical standards businesses will be able to reduce the chances for the legal risks by undertaking the certain corporate actions. Issues and challenges with CSR for retail sector As per the view ofYadlapalli, Rahman and Gunasekaran, (2020) along with various benefits with the CSR there are some challenges and issues associated with it. Initial challenge is that businesses only shows their duties towards the shareholders.It is found that more often consumer confuse with the business goals and objective with their CSR concept, it is said that sole interest of the businesses is only limit to the stakeholder interest. Moreover, anything which done against it refer as violation of the business fundamental principles in result it does not consider by the community. Therefore, it is important to implement the CSR with better vision and goals. Another challenge is failure of consumers to identify the business through CSR, as it is analysed that certain activities and programs that conducts by the organisation helps the community but sometime it is negligible by the community. Also the amount of input that is provided by the business in result they do not get the estimated output. In contradict with above statementYucel, (2018) said that CSR helps the businesses as well as it benefits the society as
CSR promotes the value driven for both community and organisation. Author also said that businesses not mainly aim for their benefit only they support community for not only their own benefit but with aim to help community in their development, thus it does not matter what output they will get in return by supporting community. AuthorMaquet and Desmetstated that there are various specific barriers regarding the whole industry with the CSR, as sectors are showing their low willingness towards to pay for the CSR. Despite of the fact that consumers are more likely to prefer the products from the firms which are following the CSR practices, there are some firms which do not willingly invest on CSR values because they thought of it as huge investment that affects their financial resources. Author also said that consumer do not compromise when it comes to invest a premium for the CSR, they do not buy the products from the firm which do not shows their social accountability. However, authorBarnett, Henriques and Husted, (2020) said that high regulatory standards is also a challenge, as in retail sector it is found that most of the stakeholders are concern with the environmental, employee safety and their wellbeing factor. Thereby it forces the businesses to consider the environmental and safety performance by continually raising the amendments with the regulations also to force the industry to deal with the new standards and regulations. It is analysed that even for the large enterprise investment on the CSR can be burden author proposed that CSR can be consider as the practice of futility, as organisation have the responsibility towards their shareholders, investors and CSR usually opposes it, as the duty of higher executive to the investors is just to enhance the profits. AuthorBarnett, Henriques and Husted, (2020) said that any kind of stakeholders which are teammembers,shareholders,consumers,suppliersalldemandsforthetransparencyand accountability from the corporation. Thus in such businesses feels the pressure and challenge to practice all the practices in organising and analysing their information which shows the proper and clear report of finance and other business activities. However, it is often found that businesses feel more pressure from the investors as to account the transparency and better implementation of the CSR will require a other investment thus fails in create negative impact over the overall business performance, in such there are more chances to face conflicts with the investors that is not good for the business. Author further concluded that it is important for the businesses to present the united front with respect to the business ethics and also to be responsible with the political, social and environmental challenges, in such organisation fails in
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getting all together especially when the businesses have the different priorities. Thus in such it is important to conduct the training and development programs for the employees to enhance the better level of engagement and to practice the better strategies in enabling the secure and safer work place for employees that helps in overcoming the CSR challenges. Theme 3: Advantage of adopting CSR practices According to theMalik, Al Mamun and Amin, (2019) corporate social responsibility states as strategies that have been incorporated by companies into action as a part of corporate governance that has been designed in order to make sure about the company operations those are beneficial and ethical for the society. CSR comes into many formats irresopective of the size of the business whether it is little or large are expected to fulfil the basic requirements of the society as well as community by adopting best CSR practices. It has been created in order to make progressive CSR program that provide back to the people and the planet along with the one that constantly depend upon the shifts those are depending upon current social as well as economic environment. As per the views ofChi, Zhang and Liu, (2019) CSR provides various benefits and advantages to the establishment such as it helps the firm to increase employee engagement. It is not just a concept related to the key performance indicators in order to measure the effectiveness of CSR practices. Basically it is a positive Metrix to evaluate business performances. Providing back to the community is a kind of virtuous circle under which engaged employees are enriched by providing volunteering opportunities that further helps them to engage and encourage the employees. This practice also enables the firm to improve the bottom line financials. It also enables the firm to support local as well as global communities through which the companies gets huge amount of benefits by showcasing their CSR initiatives. With an organization, the HR managers tries their maximum to collect like minded talented people who are responsibly working towards one common goal. Moreover,Guzzo and et.al., (2022) illustrates that the CSR practices assist in enhancing the investment opportunities for the firm. Moreover great amount of CSR practices helps into excellent press which shows the struggle of gaining online popularity over CSR initiatives which also provide appropriate route to market. From various studies it has been evaluated that employees beliefs over CSR initiatives taken by the companies can impact workplace attitudes,
generate trust level among top management, provide job satisfaction as well as the performance of employees. The employees are the biggest and foremost brand ambassadors who lead the concept of authenticity as well as authentic publication opportunities. Furthermore, it also enhances the customer retention level as well as the loyalty of employees towards the company. Appropriately making CSR practices helps the firm to give them a chance to showcase over constant basis along with win the loyalty of consumers. This action finally lead towards conversion of customers into retention and thus able to enhance the sales volume of the company. Various studies highlights that the people are highly interested to purchase items and products from those companies who appropriately fulfil the requirement of society as well as di something for the betterment of the overall community. This shows the better alignment of values of the company towards the society due to which sometimes the customers are ready to pay even more prices for the offered goods as well as services. AuthorAmiraslani and et.al (2018) stated that along with various benefit which the CSR offers, it Also helps in encouraging the professional as well as personal growth, as when the businesses have the culture for CSR they are often seen as efficient in encouraging the volunteerism to their worker as well as enable them to donate to the non-profits. In such workers become individually minded when their firm motivates their behaviour. Also by reducing the waste and emission guides the businesses to help the environment it also allows them to save money, CSR also empower the businesses to compete in their field as consumer only look for the product where the businesses are usually following CSR values. RESEARCH METHODOLOGY Research type There are basically two types of research that has been categorized in terms of qualitative and quantitative. In order to assess the current study the qualitative research has been chosen. Apart from this, in order to evaluate the issues and benefits of adopting CSR practices, theory has been written which has been addressed through qualitative investigation. Research approach To identify the challenges and advantages of adoption og corporate social responsibility inductive type of approach has been used as this specific approach is highly able to provide help into evaluating and making the assessment of qualitative study highly effective in nature.
Research philosophy There are majorly two types of philosophies that has been used into the examination over the current chosen topic which includes interpretivism and positivism. For the present study, interpretivism philosophy has been used for analysing qualitative data pertaining to effects over company through CSR practices. Data collection For addressing the research objectives, data has been collected from primary as well as secondary both sources. For primary research, a survey has been conducted among the 20 employees of Mark and Spencers with the help of questionnaire. Furthermore, past and previous studies pertaining to effects and benefits of corporate social responsibility practices has been assessed for the development of brief thesis. Sampling For the purpose of survey, the researcher is required to select appropriate results that has been derived by gathering actual and effective data from the respondents who have been selected through random sampling method. Hence, for the purpose of survey 20 employees of Mark and Spencer have been selected referring to randomly selected candidates sampling technique. Data analysis In order to analyse and evaluate the responses that have been collected from respondents, scholar have adopted thematic perception test technique. This technique has been selected because it is extremely effective and helps into analysing the qualitative data effectively. Accordingly, taking into consideration responses, several themes has been prepared. Reliability and Validity For make sure about the reliability aspects, research papers or varied articles that are published after the period of 2018 has been considered. Along with this, considering research topic articles has been selected which in turn shows that the examination is valid in nature. Furthermore, by considering and taking it into account, copyright protected sources, secondary data has been gathered which shows reliability aspects.
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Research limitations With the unavailability of time, money and resources, the research has faced certain limitations in order to complete the research report. Due to having limited amount of time duration as well as money, quantitative tool such as SPSS has not been selected. Thus, in order to avoid such limitations thematic analysis has been completed. Apart from this, the current issue is related to qualitative aspects so that suitable technique has been considered. Furthermore, with the help of using keywords scholarly articles has been assessed or selected which also helps to resolve unavailability of resources. Ethical consideration In order to comply this aspect consent form has been signed by employees of M&S which shows their willing participation in the survey. In addition to this, references list has been added at the end which highlights that the work has not being copied from somewhere else. Primary and secondary research In order to elaborate the aspects related to the specific topic of the study, the primary as well as secondary research method has been utilized. For primary data, the questionnaire has been prepared and filled by 20 employees of Mark and Spencers in order to mitigate or identify corporate social responsibility issues along with their benefits of adopting them into appropriate manner. Theme1: Maximum number of employees do agree that they are very much aware about the theme of social responsibility. Do you understand the concept of social responsibility? Outcome Yes19 No1 Total20
Interpretation: From the above pie chart it has been interpreted that maximum number of employees i.e. Around 95% share their vote in favour that theye are highly able to understand the concept of social responsibility while 5% are still unable to understand the aspects in detail. Theme 2: Majority of employees do highlight that the policies towards employees is the appropriate area of social responsibility which is extremely important for the company. Which area of social responsibility is highly significant for your company? Outcome Policy towards employees11 Relationship with clients and suppliers4 Environment protection3 Relationship with the community2 Total20
Interpretation: From the above pie chart, it has been elaborated that as per maximum number of employees such as around 55% out of the total do states that the policy towards the employees is the area of social responsibility which requires extreme attention of the company. Although other options also have been considered by the employees such as relationship with clients and suppliers got 20% votes, 15% employees share their consent in favour of environment protection and the remaining 10% go for relationship with community option. Theme 3: Majority number of employees do share their vote in favour of irregular work which is the major problem according to them within the enterprise. Which of the following problem your company has recently faced? Outcome Employee safety5 Irregular work8 Fair pay4 Over time3 Total20
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Interpretation: From the above illustrative diagram, it has been analysed that majority number of employees i.e. 40% do share their views in favour that irregular work is the major iossue faced by Mark and Spencer. While 25% employees voted for employee safety issues. On the other hand there are few employees such as 20% who voted for fair pay scale and remaining 15% voted for over time issue. Theme 4: Increasing efficiency level and enhancing corporate reputation both option get equal amount of votes in order to elaborate the benefits of adoption of adopting appropriate social responsibility. Whatdoyouthinkcouldbethemain benefitoftheadoptionofmeasuresfor social responsibility? Outcome Enhancing corporate reputation6 Improvingrelationshipwithsuppliersand3
community Increase efficiency level6 Acquisition of commercial benefits5 Total20 Interpretation: From the above pictorial representation, it has been identified that maximum number of votes i.e. around 30% has been given to the options like enhancement of corporate reputation as well as increasing efficiency level. However, 15% voting provided to the option which is related to improving relationship with suppliers and community and the remaining 25% voted for acquisition of commercial benefits. Secondary Research In order to expand the thoughts over the identification of issues and benefits by adopting corporate social responsibility, the data has been collected through secondary medium as well. As per various studies it has been evaluated that CSR measurement is extremely significant for any establishment by adopting any single best suitable approach. In general there are various issues and problems that has been businesses faces such as discrimination into the employment practices, support from political unions, support of charitable causes, labour unions, marketing of
products by considering anti social actions, export of products and policies regarding modernization (Pellegrini, Rizzi and Frey, 2018). Furthermore, it is evident that ethical conduct of companies exerts an expanding influence over the purchasing decision of consumers. This specific activity also enables the firm to increase suppliers relationships with the stakeholders becoming more interested into business affairs as many companies are taking steps to make sure about that the partner conduct themselves into a socially responsible manner. Hence, the requirement of awareness about the corporate social responsibility is highly required to get certain benefits. One common benefit belongs to the enhancement in the goodwill and reputation of the company. Appropriate utilization of corporate social responsibility into most successful manner provide various benefits to the firm as well employees who are working within it includes improvement of financial performances, lowering down the operational costs, increased value of brand image and reputation, enhanced sales and loyalty, great amount of quality and productivity, access to capital, more ability in order to attract and retain employees, workforce diversity, products safety and decreased liability, etc. With the help of al such actions, the company also able to resolve their internal issues with their workforce personnel into most successful manner (Javeed and Lefen, 2019). Moreover, the company also able to provide environmental benefits to the firm which involves greater material recycle ability, better product durability, greater use of renewable resources along with integration of environmental management tools which helps into the business plans by involving life cycle assessment, costing, management standards and eco labelling. Socialresponsibilityprogramishighlyabletoboostsemployeemoralewhich automatically enhances the productivity level among them. With the help of this, they are able to do their work in most successful manner at their workplace along with lead towards greater productivity level which automatically has an impact over the portability aspect of the company. BusinesseswhoarehighlyabletoimplementappropriateCSRpracticesandfulfilthe requirements of the society as their core responsibility can increase their consumer retention as well as loyalty aspects among the society. It also increases the employee engagement as various researches proves that CSR as well as strong sense of employee purpose actively contribute their partinordertoenhanceemployeeengagementlevel.Hence,withthehelpofvarious performance measures, the final performances of the company has been evaluated.
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Critically review of research result It has been evaluated from the above that adoption of corporate social responsibility plays a significant role for the business, it makes the organisation able to impact the market with their social accountability and responsibility towards environment and community. From the use of primary and secondary data method, it helps in conducting the research as well as many CSR areas have been introduced to develop understanding about it. In the questionnaire round some of the employees of Mark and Spencer company has stated that their organisation is recently facing the major problem regarding irregular work, it is affecting the overall functionality of the organisation (Lu and et.al 2019). As irregular work disturbs the whole environment of the organisation that affects the operational tasks to carried out, it is also found that in such employees also feels less motivated and less interested towards their work. Usually irregular work mainly linked with the part time and temporary employment where the employees are not dedicated towards work they only concern about their compensation, thus it creates the negative environment as well as it restricts the profitability rate of organisation. It is also analysed that some of the employees have responded to the corporate social responsibility, as they stated that it is the beneficial and efficient method to implement which gives the lots of benefit to the organisational business (Lee and Szkudlarek, 2021). As per the survey for the question about the CSR knowledge, maximum of the employee has stated that they know about the CSR and also their company follow this policy in order to increase their brand reputation and to move towards sustainability. As it is evaluated that adoption of CSR practices within the work methodology usually helps the organisation in making their every employee responsible towards the community, as it drives the positive energy in them which also reflects in their positive and efficient work. CSR makes the company responsible towards environment as employees explained that their firm always responsible towards their customer, shareholders, investors, suppliers that makes them stand out from other firm (Feng and Ngai, 2020). Organisation always conduct the charity program where they work for the community to make the communal people able to access the basic facilities. Company also works for the disabled and terminally ill children to provide them basic medical or clinical care as nurse support, awareness program to support the community from wide approach. It is also found that M&S donates the clothing and by recycling the clothes they raise the fund for
supporting the disabled children every year. Thus M&S follows the CSR values which helps them in creating their efficient brand image as well as it helps them in reducing their waste to save money, with the implementation of the CSR strategies they can easily drive the positive force in their work place culture. It is identified from the above study that CSR provides the many benefit to the businesses, its adoption makes the businesses to increase their market share as well as develop the good potential customer base (Morsing and Spence, 2019). Audience in the market are more concern about the CSR concept they only proceed to buy the products from the firm which have good social accountability thus it helps the organisation to develop good revenues. From the above data analysis, it is found that members of M&S stated that in their opinion if the organisation follows the CSR values then they can be benefited in increasing their corporate reputation. As CSR helps in improvising the brand reputation just by developing the safety measureofpositiveperceptionandotheronlineinformation.Thissafetylayerhelpsin diminishing the adverse impact of the false online information which corporates in preventing the business from any reputation crisis. Thus CSR make the company able to develop good brand value as well as it guides to develop good market share. With the implementation of CSR values firm can easily proceed to attract the foreign investors and to be able to provide the better customer satisfaction and worker commitment (Aras-Beger and Taşkın, 2020). Other employees of M&S also stated that their organisation will be able to increase their efficiency level by just applying the CSR values in their operational tasks. As the benefit of CSR involves the reputation enhancement and wealth improvements, it enables the organisation to efficiently manage the risks, as CSR helps in implementing the transparency in work place. As transparency and accountability is found in working environment makes the employee able to lay out their work with the greater efficiency. CSR also promotes the better relation with the stakeholders that efficiently corporate in decision making that is required for the business. Furthermore, research has identified some challenges regarding CSR implementation, as proceeding with is itself a biggest task for the organisations. Usually small businesses suffer in begin with CSR, as it impacts on financial resources, to support community as well as work on reducing the carbon emission from the environment is biggest task and challenge. Also major challenge is lack of community support and involvement in such activities, it is analysed that most of the time communal people do not recognise the effort of organisation which is not good
for the business perception. As the input that has been provided by the organisation always gets less output in return if the corporation proceed to cut down their input then they can definitely increase their revenues, but they follow their social responsibility to support the people (Du and Xie, 2021). Many of the firm work day or night to provide valuable products to their customer at affordable cost but if it is not appreciated by the consumer then it affects the business productivity. Also research has identified the various issues regarding CSR as increase in demand for the greater disclosure which is from the stakeholders that are customers, suppliers, communities etc. also increase in the customer interest is also an issue as it is found that most of the consumer decline the products of the organisation on the basis of the social performance. Growing demand for Eco friendly product is also increasing, as consumer look for the products and services that supports the environment. In such organisation required to invest on the resources that helps in reducing the carbon footprint from the environment. It is being found that implementing CSR is also challenging for the business, but for the long term profitability it is essential to go with such strategies. Due to the lack of knowledge in CSR it makes the communal people less interested towards the CSR as they do not contribute in company’s CSR activities, therefore less communication and interaction have been emerged between the community and organisation (Topor and et.al 2021). As main benefit of CSR is to develop the good relationship between the organisation and community that helps in benefiting both, but if there is no communication found in between company and society then it causes hindrance for development of both firm and society. Lack of transparency is also highlighted as the biggest issue in CSR, as it is found that no transparency on the local agency part as they generally not make the additional efforts to show the information on their audits, activities and use of funds. As it negatively impacts the trust building process between organisation and local communities, that is the key way for success of any CSR initiative at the local stage. Research also evaluated the other benefits of the CSR as with the adoption of such practices firm can easily follow the code of ethics to improvise their internal functionalities. As it is found that CSR helps in enhancing the employee engagement, if the employees are more indulge in their work then it assures the positive result which increases the business productivity. It lowers the absenteeism and also decreases the chances for the conflict, in such CSR practices it makes the safer and healthy work place culture where every worker is aim towards achieving the organisational desired goals and objectives. M&S also encourage their
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employees to do volunteer work and play their social duty it helps in improving their mental wellbeing also by supporting people will make them feel satisfied that also reflects in their positive work. It is also discussed in the research report that CSR helps in enhancing the bottom line financials, with this firm can easily develop their good online image which is in demand, as audience in this era always look for the product that have good online presence, thus CSR benefited the businesses to provide the good outreach of the audience that helps in increasing the revenues shares for the business as well as it promotes the growth in community. With this business can be easily noticed by the large audience that improve the overall brand awareness and online brand affinity (Barnett, Henriques and Husted,2020). Excellent CSR Also give the better chance to corporation to represent their consistency and to win the customer loyalty, that helps in retaining customer for increasing the sales. CSR also benefited the firm to attract the fresh talent that completely complements the organisational working culture, thus it offers lots of benefit to businesses. Recommendation and Action plan It has been already found that CSR offers the great benefits to the organisation, but to resolve the issues which is found regarding CSR, organisation can proceed to follow such recommendation that are-For solving the transparency issues, it is important for the businesses to create awareness about the CSR as to make the communal people to be familiar with such practices. Thus with this M&S can easily enable the community to contribute in their social programs and activities. Also before committing to any effort it is important for the company to assure that whether the selected cause is right fit for their brand or not (Bradley and Botchway, 2018). As M&S already runs the campaign to support the disable people they can further proceed to educate community people and enable the communal people to provide better environment to disable child. It is recommended for M&S to increase their focus on the equity as it will guide them to evaluate the business core practices and CSR strategy at both internal and external level. Most of the time firm focus on the short term goal over long term productivity thus it affects the operability, it is suggested to M&S to run the successful CSR program that helps in providing the enormous values in return and to foster the good relationship with the community. To commit more than just financial resources, as it is easy to give money to someone, as it is the easiest thing when it come for the CSR programs. But instead of only focusing on this organisation also required to convert their commitments into reality. As for the M&S it is
essential for them to follow their commitment to reduce the use of plastic for their product packaging and achieve the sustainability through their CSR policies (Tanimoto, 2019). In such it is also important to have the right work force that are capable of laying out such task, thus company can proceed to enable the employee to understand their social values and helps in volunteering work for the community. Integrate CSR programs instead of proceeding in silos, as it is seen that in many organisation CSR only remains to its own branch that also means that integrating chances can be easily missed. Thus it is important for the firm to treat the CSR as resources so that it will help in streamlining all the processes and leads to support organisational goals as well as promote the growth in community. ACTION PLAN For the research action plan it is set of objectives and goals which the researcher tries to accomplish in the end of the result. As for this research project analyst have selected the qualitative methodology as it offers the greater flexibility to complete the study. Furthermore, researcher have taken the action to proceed with using inductive approach as it guides in analysing the qualitative study (Sanchez,2019). Research analysts have selected the primary and secondary data collection approach, where the random sampling has been done to obtain the response of participant over the research topic. Questionnaire method have been selected by the researcher for continuing the research study to get the primary data. Moreover, thematic data analysis has been chosen to complete this research project as it analyses the qualitative data easily. For easy going of the project researcher has arranged the resources also proceed to develop the aims an d objective which helps in develop the understanding so that analyst can easily begin with study. Thus researcher have begun with the suitable timeline that helps in prioritising the work so that it can be done in systematic manner and on right time. Below is the timeline diagram which shows that particular task has taken the time accordingly, as researcher have arranged all resources before begin with, it helps in completing the study without making any mistake. Thus these are the certain actions that has been taken by the research analyst to complete the study on CSR and how it will benefit the organisation to drive the good values (Weder,Einwiller and Eberwein, 2019).
CONCLUSION From the above research it is concluded that implementation of CSR plays an significant role to offer benefits and values to the businesses. It is illustrated above that CSR adoption streamlines the business functionality and as well as it makes the organisation to be socially accountable towards the environment and community. Research discussed the aim, objectives and problematic statement and literature review, further discussed about the certain challenges and issues that are associated with CSR. It highlighted the lack of transparency, no such involvement of the community issues also extra pressure from the investors issues are discussed in the research. Furthermore, it illustrated the critical discussion over the research result, that evaluated the discussion about the various challenges and benefits of adaptation of CSR values. Research have discussed the primary and secondary data evaluation which also highlighted the data analysis that has been done conducting the questionnaire round for the participants to obtain the details and information about the study topic. It covered the benefit of CSR which promotes the business growth and make them socially responsible to work for the community and promote the CSR values for the accomplishment of desired objectives and goals. It finally concluded with the recommendation and action plan.
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REFERENCES Books and journals Amiraslani, H. and et.al 2018. The bond market benefits of corporate social capital. Aras-Beger, G. and Taşkın, F.D., 2020. Corporate Social Responsibility (CSR) in Multinational Companies (MNCs), Small-to-Medium Enterprises (SMEs), and small businesses.The Palgrave Handbook of Corporate Social Responsibility, pp.1-25. Barnett, M.L., Henriques, I. and Husted, B.W., 2020. Beyond good intentions: Designing CSR initiatives for greater social impact.Journal of Management.46(6). pp.937-964. Barnett, M.L., Henriques, I. and Husted, B.W., 2020. Beyond good intentions: Designing CSR initiatives for greater social impact.Journal of Management.46(6). pp.937-964. Bradley, O.J. and Botchway, G.O., 2018. Communicating corporate social responsibility (CSR) inthecoffeeindustry:anexaminationofindicatorsdisclosed.Sustainability Accounting, Management and Policy Journal. Chi, C.G.Q., Zhang, C. and Liu, Y., 2019. Determinants of corporate social responsibility (CSR) attitudes:Perspectiveoftravelandtourismmanagersatworldheritage sites.International Journal of Contemporary Hospitality Management. Du, S. and Xie, C., 2021. Paradoxes of artificial intelligence in consumer markets: Ethical challenges and opportunities.Journal of Business Research.129. pp.961-974. Feng,P.andNgai,C.S.B.,2020.Doingmoreonthecorporatesustainabilityfront:A longitudinalanalysisofCSRreportingofglobalfashion companies.Sustainability.12(6). p.2477.
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Fair pay Over time 4.What do you think could be the main benefit of the adoption of measures for social responsibility? Enhancing corporate reputation Improving relationship with suppliers and community Increase efficiency level Acquisition of commercial benefits