logo

Effect of Corporate Social Responsibility (CSR) reporting on the financial performance of Small and Medium Enterprises in Australia

9 Pages2494 Words198 Views
   

Tools and Techniques for Business Project Management (MGMT7170)

   

Added on  2020-03-01

About This Document

MGMT7170 - This paper proposes to undertake research using secondary data, on the impact that sustainability reporting has on the financial performance of SMEs in Australia. This section undertakes a short literature review as well as discusses the method to be used for the research and the aim of the research. It will also list research questions that will narrow down the research aim; all in the context of the course the master's in Professional Accounting.

Effect of Corporate Social Responsibility (CSR) reporting on the financial performance of Small and Medium Enterprises in Australia

   

Tools and Techniques for Business Project Management (MGMT7170)

   Added on 2020-03-01

ShareRelated Documents
Running Head: EFFECT OF CORPORATE SOCIAL RESPONSIBILITY (CSR)REPORTING ON THE FINANCIAL PERFORMANCE OF SMALL AND MEDIUMENTERPRISES (SMES) IN AUSTRALIA 1Professional projectProposed project Title: Effect of Corporate Social Responsibility (CSR) reportingon the financial performance of Small and Medium Enterprises (SMEs) inAustraliaNameDate
Effect of Corporate Social Responsibility (CSR) reporting on the financial performance of Small and Medium Enterprises in Australia_1
Running Head: EFFECT OF CORPORATE SOCIAL RESPONSIBILITY (CSR)REPORTING ON THE FINANCIAL PERFORMANCE OF SMALL AND MEDIUMENTERPRISES (SMES) IN AUSTRALIA 2Table of ContentsLiterature review.................................................................................................................................3Introduction.....................................................................................................................................3Literature Review...........................................................................................................................3Economic Drivers for CSR.............................................................................................................4Past Research..................................................................................................................................5Research Aim..................................................................................................................................6Research Questions.........................................................................................................................6Methodology...................................................................................................................................6Analysis..........................................................................................................................................7References............................................................................................................................................8
Effect of Corporate Social Responsibility (CSR) reporting on the financial performance of Small and Medium Enterprises in Australia_2
Running Head: EFFECT OF CORPORATE SOCIAL RESPONSIBILITY (CSR)REPORTING ON THE FINANCIAL PERFORMANCE OF SMALL AND MEDIUMENTERPRISES (SMES) IN AUSTRALIA 3Literature reviewIntroductionReporting on sustainability is becoming a normal practice in business as it moves into the mainstream from the realm of early adopters and innovators. Failure of firms to actively engage in sustainability reporting can have adverse impacts on the company’s image, financial performance, and even its ability to raise capital. In Australia, most large and/ or listed companies undertake sustainability reporting, mainly because of its benefits even though Australia does not have a legal requirement for firms to undertake sustainability reporting ( 'Parliament of Australia,' 2013). While it is commonplace for large and/ or multinational firms to make sustainability reports, especially in the past ten years, the practice is not as widespread among SMEs ('Global Reporting Initiative,' 2016). Yet SMEs play a crucial role in economic growth and development of any country, including Australia, accounting for about 90% of businesses (Zhou,Wu,&Luo,2007). In 2005, just 10% of all sustainability reports were mad by SME’s, with large organizations and multinationals accounting for the remaining 90% yet sustainability is vital for both SMEs and large organizations ('Global Reporting Initiative,' 2016). This paper proposes to undertake research using secondary data, on theimpact that sustainability reporting has on the financial performance of SMEs in Australia. This section undertakes a short literature review as well as discussing the method to be used for the research and the aim of the research. It will also list research questions that will narrow down the research aim; all in the context of the course of masters in Professional Accounting. Literature ReviewSustainability reporting can have positive impacts on SMEs, such as improving risk management, help unlock new opportunities within global markets, and foster responsible business practices. Sustainability is among the biggest challenges for societies considered industrialized and it has become an important strategic goal for many organizations around the world. A range of stakeholders are interested in the transparency of an organizations’ activities; this implies organizations need to maintain a continuous dialogue with stakeholders (Medel, García, Enriquez &Anido, 2011). CSR refers to a business approach that makes a contribution to sustainable development through the delivery of social, economic, and environmental benefits for all the stakeholders. Research shows that most Millenials have volunteered for charitable causes and this a trend that businesses must take cognizance of, especially to attract and retain this crucial market
Effect of Corporate Social Responsibility (CSR) reporting on the financial performance of Small and Medium Enterprises in Australia_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Importance of Corporate Social Responsibility and Sustainable Reporting: A Case Study of IGO Group
|16
|4189
|184

Developing CSR Strategy for SMEs in Thailand
|55
|15057
|182

Thematic Issue On Corporate Social Responsibility
|14
|3545
|38

Social Responsibility and Financial Performance Assignment
|9
|2257
|335

Introduction to ConTEMPORARY ACCOUNTING THEORY 11 CONTEMPORARY ACCOUNTING THEORY
|16
|3488
|391

MA620 - Master of Professional Accounting
|21
|3926
|636