Impact of Corporate Social Responsibility on Brand Image

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Dissertation
Table of ContentsCHAPTER 1: INTRODUCTION...................................................................................................51.1 Background of the study...................................................................................................51.2 Purpose of study...............................................................................................................51.3 Statement of problem.......................................................................................................61.4 Background of industry....................................................................................................61.5 Background of the company.............................................................................................71.6 Research Aims and Objectives.........................................................................................71.7 Research Question............................................................................................................8Hypothesis..............................................................................................................................81.8 Chapter Preview...............................................................................................................8LITERATURE REVIEW................................................................................................................92.1 CSR...................................................................................................................................92.2 Brand image....................................................................................................................10Impact of CSR on brand image of company........................................................................11Carroll's CSR Pyramid.....................................................................................................12Traditional Conflict Model:.............................................................................................15Added Value Model:.......................................................................................................16Multiple Goals Model:.....................................................................................................17Stakeholder theory..........................................................................................................17Keller's brand equity model.............................................................................................19Aakers brand equity model.............................................................................................22Brandz Model:.................................................................................................................24TRIPLE BOTTOM LINE................................................................................................25RESEARCH METHODOLOGY...................................................................................................283.1 Research Philosophy......................................................................................................283.2 Research Approach.........................................................................................................283.3 Research Design.............................................................................................................293.4 Research Method............................................................................................................293.5 Research Strategy...........................................................................................................30
3.6 Data collection Method..................................................................................................303.7 Sampling technique and size..........................................................................................313.8 Data Analysis..................................................................................................................313.9 Time Horizon..................................................................................................................31DATA ANALYSIS........................................................................................................................324.1 Questionnaire..................................................................................................................32RESULTS.............................................................................................................................33Data Interpretation................................................................................................................504.2 Research Instruments......................................................................................................59CONCLUSION..............................................................................................................................605.1 Reliability And Validity.................................................................................................605.2 Ethical considerations.....................................................................................................605.3 Limitations of the research.............................................................................................605.4 Scope for further research..............................................................................................615.5 Timeline..........................................................................................................................61REFERENCES..............................................................................................................................62Carroll's CSR Pyramid.....................................................................................................62Traditional Conflict Model..............................................................................................63Added Value Model.........................................................................................................64Multiple Goals Model......................................................................................................65Stakeholder theory..........................................................................................................65Keller's brand equity model.............................................................................................66Aakers brand equity model.............................................................................................67Brandz Model..................................................................................................................68TRIPLE BOTTOM LINE................................................................................................69
Research Title:Critical Investigation on How CSR can enhance Brand Image in Bankingsector”.CHAPTER 1: INTRODUCTION1.1 Background of the studyCorporate Social Responsibility is seen as the broad concept which clearly reflectsintegration of environmental as well as social concern in business activities. In other words, itcan be said that corporate social responsibility is the efforts of a company which is placed tocontribute their proportion for societal development in positive manner. In modern businessesworld, business organisations are using CSR activities for enhancing their brand image amongcustomers (Crowther and Seifi, 2018). It also improve sustainability of company at marketplace.In addition to this, it has also been analysed that CSR activities are directly contributing inplacing positive impact over society. Furthermore, it can be said that indulging into CSRactivities also helps company in enhancing their brand image among customers, other businessholders, government of operating country and other related places which will definitely providevarious benefit to them. This present dissertation will deeply evaluate that how CSR activitieswill help NRB bank in improving its brand image in Banking sector.1.2 Purpose of studyThe main purpose of this research is to enhance knowledge of NRB bank on CSRactivities so that they can use it for improving or enhancing its brand image at marketplace.Another, purpose of the NRB bank is to gain competitive advantage at market place by usingCSR activity (Hopkins 2016). In context to researcher, it can be said that this research will alsoimprove knowledge of researcher about the chosen company and its operations which willeventually help them in working effectively with the similar company in future. In addition tothis, another purpose of researcher is to enhance their professional as well as personal skills thatwill contribute in conducting more better research in future. The research will also open upnumerous of options for NRB bank by which they can grab opportunity which are available atmarket place. By adopting these opportunities, NRB bank can maximise sustainability ofcompany and also raise its profitability ratio.
1.3 Statement of problemNRB bank is serving its banking services in Bangladesh. It has been realised by the bankthat competition in Bangladesh within banking sector is very dense. Thus, it is core requirementof NRB bank to focus on building up its brand image in front of customers as well asgovernment so that they can sustain longer at market place. On the basis of this, it has beenidentified by its management team that CSR activities are one among the best way which helpsevery company in enhancing its brand image among the customers and other related person.Therefore, with the help of this research, NRB bank will enhance its knowledge on CSRactivities. This also provide guidance to the NRB bank that how they can use CSR activities forimproving their brand image at market place. Along with this, it will also suggest company aboutbest feasible CSR activities that can be easily used by NRB bank (Tingchi, 2014).1.4 Background of industryIn Bangladesh, the first bank naming Dacca Bank was established in 1846. It was notvery successful in making profits so it was purchased by Bay of Bengal in 1862. After theindependence of Bangladesh, banking sector started its journey with six nationalisedcommercialised banks, nine foreign banks and three state owned specialised banks. Bankingsector attained a significant expansion by the entrance of privatise banks. There are two types ofbanks in Bangladesh i.e. scheduled and non scheduled banks. Scheduled banks are those bankswhich were maintained by the Bangladesh bank order (Khojastehpour and Johns, 2014).On theother hand, Non scheduled banks are those banks which are established for a specific or definiteobjective. These banks cannot perform all functions of a schedule bank. In Bangladesh, there arearound 59 schedule banks which operates under guidance of Bangladesh bank. Scheduled banksare divided into different banks such as specialised banks, state owned commercial banks,private commercial banks, conventional private commercial banks, Islami Shariah based PCBand Foreign commercial banks. In addition to this, Non bank financial institution are those whichare governed under Financial Institutional act, 1993. These are controlled by Bangladesh Bank.These are not able to issue pay orders, cheques or demand drafts. They conduct various businessoperations like bridge financing, lease financing, syndicated financing, private placement ofequity etc.
1.5 Background of the companyNRB bank is also known as Migrants sponsored Banking system. It is a new bankingstructure in which initial capital is given by non-resident Nationalists. This bank has manyobjectives and lending-deposit functions. The main objective of this bank is to limit theirdependency on International financial institutions for external financing. NRB bank Ltd.Provides a wide variety of services and products for retail, corporate and Small mediumenterprise. The vision of this bank is to become a leading financial institution to invest money forBangladesh corporates and individuals and reach international markets (VISION, MISSION&VALUES, 2019).NRB Bank's mission is to become best financial services provider ofBangladesh. They aim to strengthen relationships by giving correct solutions that connectsexpertise, professionalism and financial strength. NRB bankers are reliable financial advisorswho find ways in expanding their business globally (Fatma and Rahman, 2016). NRB bankfoster ideas to improve their performance and be competitive in market. NRB Bank is workingtowards building it's brand image in front of customers and stakeholders. They are investing inCorporate social responsibility activities, educational programmes, Natural disaster andcalamities management for helping people and in this way they are able to enhance theirreputation and image as well.1.6 Research Aims and ObjectivesResearch aims and objectives are formulated by researcher which guides them as well astheir team member to complete the same research in right direction. Research aim is consideredas broad statement which specifies actual motive of the research. It simply emphasises that whatis going to be done for what purpose (Van Manen, 2016). Whereas, research objective dividesprepared aim into sub topics and focuses on ways through which prepared aims can be achieved.Research objectives are required to be feasible and accurate so that desired outcome can beattained. In context to present dissertation for NRB Bank, research aim for this have been statedas below:Research AimThe chosen aim for present research is“To Critically Investigate How CSR can enhanceBrand Image in Banking sector. - A study on NRB Bank, Bangladesh.”Research Objective:To identify different challenges that are faced by NRB bank while implementing CSR.
To determine various benefits that are gained by NRB Bank through its CSR activities.To examine howCSR activities have improved the brand image of NRB Bank.1.7 Research QuestionResearch questions are considered as the essential part of overall research project whichprovide guidance to researcher to conduct this research in right direction by evaluating its eachand every aspect (Wildemuth, 2016). Research questions are basically formulated on the basis ofresearch objectives. It is basically a first active step of every research project that helps inattaining desired outcome of the study.What the challenges NRB bank is facing on implementing CSR?What are the benefits that NRB Bank is getting through CSR activities?Does CSR activities have improved the brand image of NRB Bank?HypothesisH1:Does CSR activities have improved the brand image of NRB Bank?H0: Does CSR activities have declined the brand image of NRB Bank1.8 Chapter PreviewPresent research have been completed in effective manner by following specific format.With reference to the present research, its structure will include overall five chapters which aredefined as below with their brief description:Chapter 1: IntroductionIt is the first and foremost section of research which will briefly provide basic details ofoverall study. It will cover information about background and purpose of company, industry andresearch, Further it will determine specific aims and objectives for the same research which isgoing to be attained.Chapter 2: Literature reviewThe next chapter of this dissertation will provide in-depth knowledge on CSR activitiesand its contribution in enhancement of brand image of NRB bank. In this section, views andperception of different authors will be represented on the aims and objectives so that theirdesired outcome can be achieved effectively.Chapter 3: Research Methodology
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