Literature Review and CSR Importance

This assignment provides a comprehensive literature review on corporate social responsibility (CSR), exploring its significance and impact on organizations. It discusses how CSR contributes to brand recognition, market share, customer loyalty, and talent attraction. The review also highlights the economic and environmental benefits of CSR, making it a crucial aspect of business operations. The summary concludes that CSR is essential for organizations to perform effectively and efficiently, bringing benefits to both businesses and society.

Literature review

Table of Contents
INTRODUCTION...........................................................................................................................1
1.explanation of the literature review and how it can be achieved.......................................1
2.Literature review on Corporate social responsibility..........................................................2
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Literature review is trope of collection of the material regarding any topic. it is just a
summary of the sources having an organisational pattern and it combine the synthesis and
summary. its is a type of review article which includes the current knowledge with substantive
findings with theoretical and methodological contributions of a particular topic. Literature
reviews are the secondary sources which does not report the original experiments.
In this report we will cover the study of Corporate social responsibility which is the
contribution of the organisation towards the society and community to develop the standard of
living of the people and to contribute towards the economic development.
1.explanation of the literature review and how it can be achieved.
According to the Ali, Frynas and Mahmood, (2017) Literature review is basically a
summary and synthesis of current state of knowledge on a particular topic which is found in
academic books and journals. it is a type of review article which is a secondary sources and does
not report the original perimeter work. these are mostly associated with literature which is
academic oriented. literature reviews can be used as a basis for research in every academic field.
preparing a literature review is a part of the graduate and non graduate student work which also
includes the preparation of thesis, dissertation or any journal article.
There are different type of literature review and the main types are exploratory, evaluative and
instrumental. The another type which is systematic review is categorized separately.
Literature reviews can be achieved by the talents, interpretation, analysis, synthesis,
clarity of thoughts and developing the arguments. The process of literature review helps to
clarify the thoughts of researcher regarding their study(Ali, Frynas and Mahmood, 2017). After
reading and understanding of the literature review it is clear to the reader that they should be up
to date awareness of the relevant work of others and the research question they are asking is
relevant. it is necessary that the literature review should be more than list of references with short
description of every topic. literature review can be achieved by following the proper guidelines
which includes with
 deciding the topic and the audience
 deciding the scope of the review
 identifying the literature that will be reviewed
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 selecting the database which will be used to conduct the searches
 Analysing the literature
 summarizing the literature
 synthesizing the literature
 writing of review
 Developing a essay
by effectively and efficiently following these steps, it is easy to achieve the effective literature
review which is merer appropriate and relevant for the reader to understand the topic in detail
with more reliability.
2.Literature review on Corporate social responsibility
Corporate social responsibility is a model which helps a company to be socially
responsible and accountable. this is so called as corporate citizenship, sustainable business,
corporate conscience. It is basically a business approach where the business contribute towards
the development of the society and sustainable development by offering economic, social and
environmental benefits to all the stakeholder(Crowther and Seifi,2018). corporate social
responsibility can be described as a company's efforts tom improve and develop the society
efforts of the organisation towards the development of the society can range from donating the
money to implementing g the environment friendly policies which ultimately helps society to
grow. this responsibility of the organisation move from voluntary decision to compulsory
schemes. the CSR must be integrated into the model of the business to make the business more
successful through the programmes of the CSR, voluntary efforts and philanthropy business is
able to make benefits for the society by boosting their own brand value.
CSR is equally valuable for the company also as it is for the community. this helps in
establishing the strong bond between the business and their employees as they are also a part of
the community itself. For being responsible towards the society, company must be responsible
towards their shareholders .through CSR adaption many companies grown and reach to the point
where they can give beck to the society at its best(Grayson and Hodges,2017). CSR is basically a
business process that how they mange to give positive impact on the society. Sustainability,
social ethics, all are cover under the corporate social responsibility. Every company performing
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CSR have to follow the two aspects deficiently and effectively. one is the management quality
that is then inner circle including people and process and another is nature and quality of their
impact on the society in different areas(Lim and Greenwood, 2017). The outer circle of the
organization are taking part in the business acclivities and the observe the organizations
performance thorough their product and quality they provides and their impact on the
environment and society. the quality of management can be judged by the past financial
performance of the organisation as they are the indicator of future performances.\
Basically CSR is the commitment of the business to behave ethically and continue to
contribute towards the economic development which wills improve the quality of the workforce
life and their families and local community as well as of society at large. CSR as business model
plays very crucial role as social responsibility of the organisation become most integral part for
wealth creation and if it is managed efficiently than it can enhance the business competitiveness
and can maximise the wealth creation value to society.
For continuing the CSR by the organisation on regular basis then must follow the CSR practices.
CSR practices:-
the organisation must follow the CSR practices for effective and efficient implementation of the
responsibility towards the society. CSR practices are followed and adapted buy the organisation
to leave a long lasting impact on the consumer and also to contribute towards the economy.
1.set measurable goals- every organisation must set measurable goal for which they are
performing the CSR activities as return on investment is always been a difficult task to measure
for every organisation. The best strategy for which company contribute towards the CSE can be
reducing the employee turnover and creating more and more employment opportunities by
improving recruitment(McWilliams 2015). In this practice, general steps can be taken like
minimizing the wastage of resources so that sustainability efforts support the overall company
and corporate strategy.
2.stakeholders engagement- for taking he company to success height it is required by the
companies to involve their stakeholders as ignoring them is the biggest mistake done by the
company. for Articulating the strategies, missions, values and implementing the company's CSR
plan it is important to integrate all the stakeholders in same direction. stakeholder will participate
in regulatory approval projects which also improve the relationships between the company and
its members(Crowther and Seifi,2018). company should involve their stakeholders from very
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initial process of consulting to the moving forwards to the development process which have great
impact on success of implementation of CSR policies.
3.Sustainability issues Mapping-these practice is generally uses the maps which help
organisation in interaction of et prioritize issues and narrow down issues which ultimately save
the time and energy of the company during the stage of initial research itself.------depicts that
sustainability issues mapping is the most stimulating approach s it brings together the things
which are required to be together .
4.Sustainability management system(SMS)- in this system company needs to develop a
framework which ensures that environmental, economic and social concerns are considered
through the decision making process of the organisation. company is looking forward towards
the legal requirements which are related to these impacts and helps in evaluating company's
compliance at current stage. collaboration of the company with environmental consultant helps
them during the complete process(Wang,Tong,Takeuchi and George, 2016). the another aspect
of this practice is identifying the company's goals and objectives and last company needs to
educate their employees and provide them proper training on using sustainability management
system and in addition to this, company also use periodic audits to ensure that this practice
should carried out in most effective and efficient manner.
5.Life cycle Assessment-it is also known a s life cycle analysis which is a technique that helps in
assessing the impact of the environmental factors on every stage of product life cycle from raw
materials , processing, manufacturing, selling and distribution, usage repair and maintenance. A
cradle to cradle approach will exhibits the company's creativity and innovation which can also
improve the bottom line profit. reusing the product or recycling the product is optimum
utilisation of the resources which will keep it out of the landfill and helps in building the
customer rapport and brand loyalty by taking off the pressure of disposal process of the products.
6.Sustainability/ CSR reporting- CSE reporti9ng is been increased in being popular over the
past years because of the increasing government regulations and self regulation by the companies
which are with forward thinking(Lim and Greenwood, 2017). It is crucial that customer base
have easy access to the latest and best-est efforts made by the company so that customers can
take into the consideration the efforts of the organisation . The best and environmental friendly
way of doing this is through posting the reports on the websites as it yeasty to download and
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access. this could be consider as the another are from where company can ask for the feedback
from the customers and stakeholders.
7.Sustainability branding is basically a process of generating and maintaining an identity for a
specific product and services or it can be said that special added values ion respect of
environment and social benefits. as this helps in capturing the larger share in the market by
creating a strong brand value.
Framework of CSR
the CSR is implemented by the government to bridge the gap between the inequality and
different social obligations which requires certain amount of capital. CSR is basically a
contribution toward the society and nation at large which helps local community and people to
raise their standard of living . This is legal responsibility of the company to address the CSR
related issues and implement number of social, economic, environmental concerns which help in
developing the country. The framework of CSR is basically a way of performing the CSR
practices by the organisation, in this framework management and board responsibility is to guide
te complete organisation forb managing the resources and process system which also include to
mange the change in the policies to meet the dynamic environmental change and also enable
organization to make continuous improvement in the policies to benefit the society. This all can
be done through strategic planning and measuring the performance and activities that they are
according to the palm or not . After this effective analysis is carried which is done by the internal
stakeholders to fulfil the expectations of external stakeholders.
Benefits of the CSR
CSR has many benefits on the organisation and as well as on the society as whole and CSR
contributes towards the economy and the nation(Crowther and Seifi,2018). It also helps ion
creating the better brand recognition which is benefit to the organisation as many people get
attracted towards the company which will leads in increasing market share of the company and
have positive business reputation in the minds of people.
It helps organisation to increase the sales and customers loyalty.
CSR helps in improving the ability to attract talent and more staffs for the company.
It helps to improve the economic condition of the nature
CSR contributes towards the protection of the environment.
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Corporate social responsibility of corporate towards the society help organisation in saving their
operational costs as they will be able to earn higher profits as more and more customers get
attracted towards the organisation.
CONCLUSION
From the above report, it is concluded that literature review contains the materiel
regarding the specific topic and summarize and synthesis the current sate of knowledge
regarding the topic.
It is also concluded that corporate social responsibility of the organisation is required to perform
effectively and efficiently as it helps organisation in creating their brand value and capturing g
larger share of the market. In addition to this CSR contributes towards the society, local
community and have great contribution towards the economy and nation. CSR is mandatory in
every organisation and it is operate by self regulation also. Hence , CSR bring great benefit to
the organisation as well as to the society and local community.
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REFERENCES
Ali, W., Frynas, J.G. and Mahmood, Z., 2017. Determinants of corporate social responsibility
(CSR) disclosure in developed and developing countries: A literature review. Corporate
Social Responsibility and Environmental Management. 24(4). pp.273-294.
Cha, M.K., Yi, Y. and Bagozzi, R.P., 2016. Effects of customer participation in corporate social
responsibility (CSR) programs on the CSR-brand fit and brand loyalty. Cornell Hospitality
Quarterly. 57(3). pp.235-249.
Crowther, D. and Seifi, S. eds., 2018. Redefining Corporate Social Responsibility. Emerald
Group Publishing.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Lim, J.S. and Greenwood, C.A., 2017. Communicating corporate social responsibility (CSR):
Stakeholder responsiveness and engagement strategy to achieve CSR goals. Public
Relations Review. 43(4) pp.768-776.
McWilliams, A., 2015. Corporate social responsibility. Wiley encyclopedia of management.
pp.1-4.
Wang, H., Tong, L., Takeuchi, R. and George, G., 2016. Corporate social responsibility: An
overview and new research directions: Thematic issue on corporate social responsibility.\
Online
Corporate Social Responsibility in the Framework of Quality Management, 2019
[Online]Available
through:<https://www.sciencedirect.com/science/article/pii/S1877042814059862>.
Corporate Social Responsibility’s Seven Best Practices: Avoid Greenwashing Through
Stakeholder Engagement, 2019 [Online]Available
through:<http://greeneconomypost.com/csr-best-practices-11001.htm>.
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