Analysis of why businesses should use CSR

This presentation explores the analysis of why businesses should use CSR (Corporate Social Responsibility) and the challenges they face in implementing it. It discusses the benefits of CSR, such as improved public image, increased brand awareness, cost savings, competitive advantage, customer engagement, and employee benefits. It also highlights the challenges businesses face, including lack of consensus, narrow perception, transparency issues, visibility factor, and financial difficulties. Overall, CSR can help businesses improve their image, attract top candidates, but it also requires addressing challenges and maintaining transparency.

INDIVIDUAL
PRESENTATION PAPER

 INTRODUCTION
 MAIN BODY
 Analysis of why businesses should use CSR
 Challenges faced by the businesses in that
 CONCLUSION
 REFERENCES
Table Of Contents

Corporate social responsibility is a type of international
private business self-regulation that aims to contribute to
societal goals of a philanthropic, activist, or charitable nature
or by engage in or support volunteering or ethically-oriented
practice. This report covers issues such as an analysis of why
businesses should use CSR and what challenges they face in
that.
INTRODUCTION

Improved Public image-
 Consumers prefers those companies whose image is
good in the market.
 They feel that if the company does a certain amount of
charity then they are committed to them.
 It can be in any form such as employees of the company
doing any kind of charitable work by volunteering on their
own.
Analysis of why businesses should use CSR

Increased brand awareness and recognition-
If the company is committed in these type of services then they
will be able to gain presence in media and it will help them to
gain a good image in a large area which will also help them to
spread awareness about brand.
Continued..

Cost Savings
 There are many ways in which CSR can help the
company to save cost and help in contributing for the
betterment of the society.
 For instance decrease the cost off the products, use less
amount of packaging.
Continued..

Competitive Advantage
 It is necessary for the companies to practice these type
of activities as it helps them to gain advantage over their
competitors.
 Apart from that, this will also help the company to position
and perceive themselves to be more committed in the eyes of
eyes of public and to work for the benefit of social and
environmental factors
Continued..

Customer Engagement-
 Company should use this as a advantage that they
are working for the betterment of the society so that even
employees of the company can be aware of this aspect.
 This will give them a sense of pride as they like to work
for those companies who donates a part of their income
for the betterment of society than for those who do not do
such activities.
Continued..

More benefits for employees
 If the company practices CSR then there are
various types of benefits that their employees will be
getting which ultimately will help the company.
 It will make the environment of the company more
positive which will help the employees to work with
more concentration and achieve the goals.
Continue..

Lack of consensus on CSR issues
 There is a lack of this factor amongst business and
agencies concerned with this aspect.
 This leads to duplication in the charitable work.
Narrow perception towards CSR
 Many business sees this aspect with a very
narrow minded approach on the initiatives of CSR.
.
Challenges that the businesses face in CSR

 They conduct it on a low level rather than covering the whole
area.
Issues of transparency
 One of the key issues is lack of transparency from the
agencies and businesses so that they can hide the efforts they
made and the adequacy of it with the audit, necessary
utilization of funds etc.
Continue..

Visibility Factor
 CSR helps to enhance communication with the help of
media and the role that media plays in this aspect is to
highlight the successful initiatives of CSR in order to make
the public sensitive towards business.
Lack of participation due to monetary factors
 Many businesses face the challenges of financial
difficulties while implementing the CSR as there are other
areas which requires their attention such as meeting the needs
and wants of consumers which requires regular investment.
Continued..

From the above studies it has been concluded that many
companies are getting benefitting from this aspect as it is
helping them to improve their image, position their brand
in a new way and it is helping them to attract and retain
top level of candidates. On the other hand there are many
challenges while implementing CSR such as facing issues
in allocation of funds with the support from the
government and utilize it according to the budge and not
maintaining the level of transparency.
CONCLUSION

 Verbruggen, F., Aron, A.R., Band, G.P., Beste, C., Bissett, P.G., Brockett,
A.T., Brown, J.W., Chamberlain, S.R., Chambers, C.D., Colonius, H. and
Colzato, L.S., 2019. A consensus guide to capturing the ability to inhibit
actions and impulsive behaviors in the stop-signal task. Elife, 8, p.e46323.
 Chan, C.R. and Parhankangas, A., 2017. Crowdfunding innovative ideas:
How incremental and radical innovativeness influence funding
outcomes. Entrepreneurship Theory and Practice, 41(2), pp.237-263.
 Silva, N.H., Morais, E.S., Freire, C.S., Freire, M.G. and Silvestre, A.J.,
2020. Extraction of High Value Triterpenic Acids from Eucalyptus
globulus Biomass Using Hydrophobic Deep Eutectic
Solvents. Molecules, 25(1), p.210.
REFERENCES