Literature Review on Corporate Social Responsibility

This literature review explores the concept and importance of corporate social responsibility (CSR). It discusses the benefits of CSR, such as improved public image and brand awareness, and the different types of CSR initiatives. The review also highlights the role of CSR in contributing to society and the environment.

Running head: INDIVIDUAL RESEARCH REPORT
INDIVIDUAL RESEARCH REPORT
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What is a literature review and what does it achieve?
Literature review is not only vital but also mandatory in research study. The first step to
begin any research is to gather information and literature that are already in existence. Also,
there have been theorists who have emphasized on the purpose and importance of literature
review (Booth, Sutton and Papaioannou 2016). The paper aims to present the concept of
literature review and its purpose along with the ways it contribute to the concept of academic
work and study. It aims to discuss the specific role it plays.
A literature review is both a summary as well as explanation of the whole and present
state of knowledge on a limited topic in a way it is found in the journal articles of academic
book. Literature review can be of two kinds, a kind of literature review that student is asked to
write in their university and a kind that is a part of training in research process in specific field.
While one is asked to write as a stand-alone assignment in a course, the other is written as part of
an introduction to a longer work such as thesis or research reports. Literature review is depended
on the thesis or research report hypothesis (Pyrczak 2016).
According to (Galvan and Galvan (2017), there is several purpose of the literature
review. It provides easy access to research on a specific topic by selecting high quality articles,
journals and studies. These resources are relevant, meaningful, significant, valid and necessary in
order to summarize them to complete a report. Literature review provides an excellent starting
point for the researchers in order to begin their research in a new filed though focusing the
resources, summarizing and evaluating them with the original research in the particular area.
Through literature review, the researcher becomes aware of his research and be sure of not
repeating or copying any other research. Also, it highlight the key findings, identifies the gaps in
the literature, inconsistencies and contradictions. It provides a constructive analysis of the

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approaches and methodologies of the other researchers providing idea for the present research
paper.
The significance of literature review is not only to serve the purposes that has been
discussed above, but also due to the contribution it makes to the academic filed and the field of
research. All the literature review that has been conducted before provide rich source of
knowledge to society. Every researcher either agrees of disagrees with the other researcher’s
perspective which leads to greater investigation for future. It helps people generate interest in
different aspects of studies leading to innovation and development of ideas. The various
perspectives of researchers add to the clues where the future researches are heading (Patten,
2016).
The roles played by literature reviews plays are important in the field of studies.
Literature review plays the main role of providing information about specific topic. It provides
surveys and since it synthesizes the information in the literature it provides information in an
organized manner. A literature review is essentially a process of exploring and most importantly
he process of mapping the existing literature to ascertain and indicate the materials that has been
studied, the ways the materials has been studied and till what extent it has been found in a
specific areas of knowledge.

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References:
Booth, A., Sutton, A. and Papaioannou, D., 2016. Systematic approaches to a successful
literature review. Sage.
Galvan, J.L. and Galvan, M.C., 2017. Writing literature reviews: A guide for students of the
social and behavioral sciences. Routledge.
Patten, M.L., 2016. Proposing empirical research: A guide to the fundamentals. Routledge.
Pyrczak, F., 2016. Writing empirical research reports: A basic guide for students of the social
and behavioral sciences. Routledge.

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Topic: Literature review on the topic "Corporate Social Responsibility"
Corporate social responsibility (CSR) is a self-regulating business model. It used by
companies in order to help become socially responsible. The responsibility involves duties that
the company may hold against itself, its stakeholders and the public. Through the practice of
corporate social responsibility companies become conscious and aware of different types of
impact they have on all aspects of society including economic, environment and social (Unit
2015). By engaging in CSR, a company operates in ways that enhance society and the
environment even in their normal course of business. A company may have several negative
impacts on environment, society and the economic aspects. Through CSR companies become
aware of these aspects and begin taking them under consideration in order to eliminate them
(Grayson and Hodges 2017).
CSR is a vast topic with a vast concept that takes many forms depending on the company,
the industry and the type of business it does. CRS is not only a way for the companies to
contribute to the society and environment but also a way to boost their own brands. An
innovative and strong CRS programs helps in building stronger bond between employee and
corporation, it helps both employees and employers feel more connected with their surroundings.
Importance of CSR
A CRS of a company describes the company’s effort to improve society in some way. It
is not only contributing to the society and environment, a CSR policy has several other
importances in a company. It is incredibly important that a company operates in a way that
would demonstrate social and environmental responsibilities. Even though it is not a legal
requirement, it is perceived to be a good practice that a company may have that would take into
account environmental and social issue. Social responsibility and ethical practices helps in

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bringing in success to the business. According to researches, approximately 91 per cent of global
consumers expect businesses to operate in a responsible way in order to address environmental
and social issues (van Dick et al. 2019). Also, approximately 84 per cent consumers seek out
products that are produced considering the responsible factors. In the contemporary era,
consumers are increasingly becoming aware of the importance of social responsibility. They
actively seek for products that are made from business that operates ethically. Through the CSR
policy and program, companies demonstrate that a business takes an interest in wider social
issues, rather than just making profit for themselves. It attracts customers who have similar
thinking regarding their responsibility (Saeidi et al., 2015). Therefore, instead of considering
only about the impact on business’s profit margin, business should also take interest in wider
social issues. Therefore, for business it is not just about contributing to the society but also
making its image to the consumers and customers that is the main aim of any business. Also, it
makes a good sense to operate sensibly. The term of CSR provides a chance to all the employees
of an organization to contribute towards the environment and society.it is evident to feel a sense
of satisfaction when an individual help others or live for others. Bringing smile to other people’s
life since an organization decided to fund the unprivileged children education is certainly a
motivating factor. Therefore, it is an importance of CSR can be perceived in an organization
when the way it motivates people is seen. A CSR goes a long a long way when it comes to
creating a positive word of mouth for the business on the whole. An organization’s image can be
created as well as destroyed by the way they take social responsibility of social and
environmental factors. Therefore, the relevancy of an efficient CSR policy can be perceived
through their duty towards, society, stakeholders, customers and other related aspects.
Benefits of CSR policy

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According to Chernev and Blair (2015), the advantages of having CSR can be described
as in its volumes about the ways it is significant and the reason it should be adapted to every
business. However some of the benefits of corporate social responsibility will be discussed in the
coming paragraphs. One of the most important reason is improved public image.it is one of the
crucial factor about organizations to build their image as all consumers assess the public image
of the company before deciding their purchase from that specific company. Considering even the
smallest things, such as staff members volunteering only for an hour a week at a charity
manifests that way brand is committed to helping others. This leads to the appearance of the
company in much more favorable way to consumers. A CSR policy increase brand awareness
and recognition. When an organization is committed to ethical practices, the news is certainly to
spread. Therefore, more people come to know about it which creates brand awareness. A CSR
policy is a cost saving, as through many simple changes are in favour of sustainability such as
using methods of less packing will help in decreasing the production cost. In the competitive
market, possessing a good CSR is a way to stand out from competitor in the market. Through
CSR a company can establish itself as a company that is a step ahead in concern of social and
environmental issues. Also, if an organization is using sustainable system, it is ought to be
highlighted and let everyone know. Customers are eager to engage with brands and operations
that work in sustainability. Since sustainability is a major focus of society and current
environmental plan, companies using sustainable system are automatically given coverage. The
CSR strategies should be known to every employee of the company. It is certainly an aspect to
boast as it involves doing goodness to the environment. It is a beneficial factor for the employees
when an organization embraces CSR. The workplace of the organization becomes a positive and

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productive place to work. Also, through prompting things such as volunteering helps n
encouraging personal and professional growth.
Types of CSR
According to Pérez and Rodriguez del Bosque (2015), Corporate social responsibility
initiatives are standards and measures that organizations and businesses put in place in order to
contribute to society. There are four major types of corporate social responsibility. An
environmental sustainability initiative that is enacted by organizations focus on two main areas:
reducing greenhouse gases and limiting pollution. Since there is increasing awareness of
environmental issues, business can take initiatives to reduce pollution including air, water and
land. It helps them stand as a good corporate citizen. Direct philanthropic giving involves the
donation of time, resources and money to charities as well as organizations at local, national or
international levels. These donations can be directed to a variety of worthy causes including
national disaster relief, human rights, clean water and education programs in developing and
under-developing countries. Organizations may get involved in the ethical business practices
where the primary focus is on ethics is to provide fair labour practices for the employees of a
business along with the employees of their suppliers. Under the ethical business practices, fair
business practices include living wage compensation and equal pay for equal work, ethical
labour practices such as the type of product used and related. Lastly, focusing on economic
responsibility is another form of CSR type. It focuses on practices that facilitate the longer-term
growth of the business along with meeting the environmental practices, philanthropic practices
and standards set for ethical practices (Mishra and Modi, 2016). One of the examples of this kind
of CSR program would be when a company modifies its manufacturing processes to include
recycled products that will benefit the company through lowering the cost of raw materials. This

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would benefits the organization along with helping in reducing the environmental negative
impacts.
As discussed above, it used by companies in order to help become socially responsible.
The responsibility involves duties that the company may hold against itself, its stakeholders and
the public. Considering the present condition of the society and environment, a contribution from
the organizations will certainly improve the condition of the surrounding. Also, sustainability
and corporate social responsibility initiatives has a way to continue to be prevalent in years to
come.

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References:
Chernev, A. and Blair, S., 2015. Doing well by doing good: The benevolent halo of corporate
social responsibility. Journal of Consumer Research, 41(6), pp.1412-1425.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Mishra, S. and Modi, S.B., 2016. Corporate social responsibility and shareholder wealth: The
role of marketing capability. Journal of Marketing, 80(1), pp.26-46.
Pérez, A. and Rodriguez del Bosque, I., 2015. Corporate social responsibility and customer
loyalty: exploring the role of identification, satisfaction and type of company. Journal of
Services Marketing, 29(1), pp.15-25.
Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A., 2015. How does corporate
social responsibility contribute to firm financial performance? The mediating role of competitive
advantage, reputation, and customer satisfaction. Journal of business research, 68(2), pp.341-
350.
Unit, B., 2015. Corporate social responsibility.
van Dick, R., Crawshaw, J.R., Karpf, S., Schuh, S.C. and Zhang, X.A., 2019. Identity,
Importance, and Their Roles in How Corporate Social Responsibility Affects Workplace
Attitudes and Behavior. Journal of Business and Psychology, pp.1-11.