Corporate Social Responsibility and Its Impact on Business

This presentation explores the meaning of corporate social responsibility and its impact on business organizations. It discusses different types of CSR and academic models related to CSR. The benefits and drawbacks of CSR are also analyzed.

Individual Presentation
Paper

Table of Content
INTRODUCTION
MAIN BODY
Meaning of Corporate Social Responsibility
Impact of Corporate social Responsibility Model
CONCLUSION
REFERENCES

INTRODUCTION
Corporate social responsibility can be explained as self regulation practices that can help
the organization to contribute to society, environment and economy by performing
various operations. To full fill ethical responsibility of organization different policies
form by Human Resource Department. This report is providing brief background of of
Corporate Social Responsibility and academic models that are applicable to business
organization. Brief analysis of CSR will be conducted in report in order to analyse its
impact on business of an organization.

CSR

Meaning of Corporate Social
Responsibility
Corporate responsibility is known as self regulatory business model that is used by the
business organization to full fill accountability of organization towards society, economy
and environment. This CSR policy also followed by organization to full fill basic
requirement of stake holder and employees that are associated to company. According to
Meaning of Corporate Social Responsibility There are four type of social responsibilities
are addressed by business organization to meet ethical requirements and responsibilities
which are- Philanthropic efforts, Environmental Conservation, Company diversity and
labour practices and support volunteer efforts. These are common factor that are
addressed in the CSR model that is used by business organization.

Philanthropic Efforts
As per view of Grayson and Hodges, (2017) philanthropic efforts can be considered as
develop the understanding of latest technology to new generation in order to make them
capable of understanding, using and further improving the technology. This also can be
done by process of fun rising for local schools and colleges. Large organization also can
do this on vast level.

Environmental Conservation
According to Crane, Matten and Spence, (2019) Environment conservation process is
related to the climate change due to various business practices of organization. For this
type of responsibility organization can contribute to reduce the impact of their operation
on environment by implementing environmental sustainable practices with in business
practices. These responsibilities also can be full filled by making effective efforts and
initiative to improve the current environmental condition.

Company diversity and labour practices
In opinion of Lins, Servaes and Tamayo, (2017) this is also important for the
organization to provide equal treatment to all employee at different level organization to
maintain equality with in workplace. This can be performed by providing equal benefits
and rewards to the employees of organization. This is how company will be able to
make effectively full fill their social responsibility.

Supporting Volunteer Efforts
Schrempf-Stirling, Palazzo and Phillips, (2016) have said that there are different local
communities and charities always need help. By helping this communities and charities
company can improve their image in the market place the can help the to improve their
brand value in the target market. This improved brand value can help them to attract
more people to get loyal to company.

Cont...
According to Yakovleva, (2017) there are different models can be used by the
organization to meet corporate social responsibility of an organization. Main model for
Corporate social responsibility are added value model, multiple goals model and
traditional conflict model. These models can be used by the organization to full fill
various responsibility of organization.

Cont...
As per Jamali and Karam, (2018) traditional conflict model, benefits and social values
are taken as conflict between stakeholder profit. The actions that are used to full fill
social and ethical responsibilities are considered as extra added cost to organization.
This is all about relationship between financial aspects of organization and ethical
values. This is how this model deal with social and ethical responsibility with
profitability of organization. This practices are taken as opportunities to make effective
bond with customer by full filling social and ethical responsibilities.

Cont...
As per Matten and Moon, (2020) the added value model consider the environmental
responsibility as process to improve the profitability of organization in the target market.
This model persists that there is still conflict between corporate decisions but these
environmental responsibilities are considered as factor to improve the performance of
organization in the target market. According to Multiple goal model organization have
goals beyond the share holder values. This goals can be considered as enhancement of
their community without any goal of achieving monitory benefits. Some of corporates
supports this model of CSR.

Impact of Corporate social
Responsibility Model
There are different benefits of following corporate social responsibility for organization.
Some of the most common benefits of corporate social responsibility are- it can improve
the brand value of organization in the target market. This can help them to improve their
consumer base. It can improve the reputation of the organization in the target market
(Tencati, Misani and Castaldo, (2019). It also can help the organization to reduce their
operational cost and gain better financial performance in the target market. By following
corporate social responsibility organization can improve their growth in global market.
There are some negative impact of CSR on organization practices. For example it can
increase the operational cost of company. To implement CSR policies organization have
to make some financial investments. This is how CSR practices can increase the cost of
company.

CONCLUSION
This presentation is concluding importance of corporate social responsibility for an
organization. Different type of corporate social responsibility also has been analysed in
presentation. CSR models has been explained with other academic model that are related
to CSR of organization. The impact of CSR also has been analysed in presentation.

REFERENCES
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make corporate
social responsibility work for your business. Routledge.
Jamali, D. and Karam, C., 2018. Corporate social responsibility in developing countries as an
emerging field of study. International Journal of Management Reviews. 20(1). pp.32-61.
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.
Matten, D. and Moon, J., 2020. Reflections on the 2018 Decade Award: The Meaning and
Dynamics of Corporate Social Responsibility. Academy of Management Review. 45(1). pp.7-28.
Schrempf-Stirling, J., Palazzo, G. and Phillips, R.A., 2016. Historic corporate social responsibility.
Academy of Management Review. 41(4). pp.700-719.
Tencati, A., Misani, N. and Castaldo, S., 2019. A Qualified Account of Supererogation: Toward a
Better Conceptualization of Corporate Social Responsibility. Business Ethics Quarterly, pp.1-23.
Yakovleva, N., 2017. Corporate social responsibility in the mining industries. Routledge.