Corporate Social Responsibility and Business Success

This assignment provides an in-depth analysis of the importance of corporate social responsibility (CSR) in business success. It highlights how CSR contributes to a positive brand image, improves social and environmental issues, and brings benefits to companies. The study concludes that CSR is essential for businesses to succeed and grow in a right and positive manner.

STUDY SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................1
1. What is the literature review and what is achieved?...............................................................1
2. Literature review on the corporate social responsibility?.......................................................2
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Study skills are essential for the higher education. It is the evaluation of the available
literature on the given and particular topics. It is necessary to develop and review of studies. That
is help to succeed and also work in effective manner. Developing and improving study skills are
taking the long time and its result is also in the best manner (Albuquerque, Koskinen and Zhang,
2018). Report will explain by the meaning and purpose of literature review. It will also write by
literature review on the corporate social responsibility.
1. What is the literature review and what is achieved?
Literature review is the critical and crucial analysis of the literature or research related to
specific topic. It is the information from a numbers of sources and also as consideration of any
group and study for the future. Literature review is demonstrated the well informed scholar with
effective and best knowledge in the filed by taking and giving overview of the current state. This
provide the systematic and synthesis of issues, trends and concept which are surrounding the
research. It is not the comprehensive history of topic but it is provided specific idea to reader and
researcher about the study topic. A literature review has objectives that are help to take overview
of study and research that are as follows:
 It surveys the writing on the specific topic and study.
 It is critically analysis the information collected by the identifies and search gape in
current knowledge by using some theories, methods, techniques and by formulating areas
for research (Assiter, 2017).
 It is presents the literature in an organised ways. It shows to readers and also give the
depth knowledge of topic and study.
Those are the objectives of literature this helps to achieve aim of study. It is also has purpose and
that are help to done study in the proper and perfect manner. Purpose of literature review are as
follows:
 Identify main ideas, conclusion and theories and established similarities and differences
of study.
 That have purpose to identify the main methodologies research tools and techniques.
 This help to provide the context of study and research.
 Purpose of this is to find the information already exists in field of research.
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 Identify the gape of literature and major seminal work.
 This shows the relationship between previous study or theories.
Those are the purpose of the literature review and help to identify the such thinks which are
important for the study and research. It is plays a very important roles in study and also at the
time of research which are as follows:
 This play roles for maintaining vision of big picture study (Cegielski and Jones‐Farmer,
2016).
 That have roles to demonstrate a well informed scholar with the expertise and knowledge
in area and field which give and share an overview of the current state.
 This find the gaps in literature or address a business or professional issues which is
depended upon study program.
Those are roles of the literature review and that is help to get the specific knowledge of work and
study. Literature review is very important for collect depth information of the specific topic.
Importance of literature review are as follows:
 It is important for create a sense of rapport with the reader to done their work and also
higher education. This is depended on the nature of research and study paper.
 That is help to avoid incidental plagiarism and in the effective way.
 This help to make focus on their study and research on topic and make the effective
(Importance of corporate social responsibility, 2017).
Those are important for the study for done in proper manner and also in the effective manner.
Literature review is plays a very important role at the time of study and research. The main aim
and objectives are provided the foundation of knowledge in a particular field and study. It is also
helped to identify the previous studies. It is shows the reliability and originality of research
issues and problems related research. All types of literature review are share the common
characteristic and feature in order to provide a justification for the research.
2. Literature review on the corporate social responsibility?
According to Cottrell, (2017), corporate social responsibility is a self regulating business
model that are help to company for social accountable with self, stakeholders and public. Its
means that a company is operates in the ways to enhance society and environment instead of
contributing negatively to them. As per the view of Grayson and Hodges, (2017), CSR is helps to
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manage the business process which is produce the overall positive impact on society. This covers
the sustainability, social impact and ethics are correct about core business.
Social responsibility is sustainable because of social responsibility is become an integral
part of the wealth creation process and also enhance business and its competitiveness with
maximise values of wealth creation society. But according to, Liang, H. and Renneboog, (2017),
its process which is based on collectives activities of the human beings communities which are
fit for all and observation is changed over times with give business in proper shapes. As per the
view of business, social responsibility is operates business in manner that are help to meets the
social, ethical, legal, commercial and public expectations.
But Machi and McEvoy, (2016) argues that CSR defines as the system through which
companies are effectively maintained their business activities for provides the good impact on
the society. It covers the various aspects of the business such as the sustainability, social impact
and ethics. According to McWilliams, (2015), this refers the commitment of enterprise to
contribute in the economic development as well as enhancing quality of students and human life
for behaving ethically. It is also helped to build skills and knowledge of students as well as the
workers and society. Corporate social responsibility is increasingly important to the companies
as well as the students.
It is empowering for helping environment or for try to the end poverty. Further more
companies are incorporating social responsibility into overall business strategies. This includes
the various issues those are local, national, global but it is concerns for health and wellness of
others. There are many reasons it is important for business, companies and higher education as
per the view of different authors and researcher. The importance of corporate social
responsibility are discussed below.
According to Wibrowski, Matthews and Kitsantas, (2017), corporate social responsibility
is improved the brand of company. Brand images of company is very important for best and
effective goodwill in the marketplace and also in customers mind. Brand image plays an
important role in the customer's life. By protecting a positive image of the company can make
the name and good reputation. This help to make company and its manager for financially strong
and profitable. By these employees are highly engaged with the potential customers and this is
the indirect marketing of company.
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But Hart, (2018) argues that the CSR is building the relations between the employees and
their customers and this is good for the company to maintain the effectiveness of company.
Engaging customers is success of company and having a social responsibility policy is impact
the buying decisions of customers. There are some customers are willing to pay more and
effective for product. This extra portion of the profit is going to worthy and profit of the
company. In short author said that building positive relationship with the customers and their
communities can lead to increased sales and rising profits.
Albuquerque and Zhang, (2018), says the retaining top talent of employees. Every
employees of business want to feel they are part of company and also bigger from that. Social
responsibility empower employees to leverage the corporate resources at disposal to good. By
using social responsibility is help to retain the top talent of the employees in positive ways. It is
effective and best for the employees to improve their work performance for growth of company.
Furthermore, it is the part of a strategy that are help to make the greater and good result of work
by boost employees morale and lead greater productivity in workforces. Product and services are
helps with social causes this create the pride relationship with the customers and employees.
In contras of Assiter, (2017), helping companies stand for the competitions. Companies
are includes community and they stand for their competitors. Building relationship between their
customers are help to improve their brand image at marketplace. Strong relations of customers
are help to make the effective and positive brand image at marketplace because they are help to
lunch their product and its services by using and sharing information to others. This also improve
image of product in public. Corporation is improved their public image by the social
responsibility program and aware consumers are for these program.
After the understanding the meaning and importance of the corporate social
responsibility, it is important to about the merits and demerits as per the view of different
authors. According to Cegielski, 2016), by this company have advantage to enhance company
image at marketplace. This is best and effective for maintaining in then good and right ways.
This help to increase the brand image at marketplace. By that have two direct benefits to
company. First is customers are always willing to purchase product and services of the company
that is the good image at product in market. Other hand this help to company to interact with
other company for do their business and maintain it effective and valuable image of company.
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This influences reputation of the company in society. But in contras Cottrell, (2017) says,
deviation from the profit making objectives. Corporate social responsibility has the basic purpose
of the business from earning profits and using it for the welfare. This is the demerit of CSR.
Business entity has commitment towards its shareholders. Most of the companies are focus on
improve and increase profits of firm by using the various methods and tools. By that companies
are using their funds for CSR program to welfare of society and charity. This is not good and
better for the company growth and profit.
According to Grayson and Hodges, (2017), says have advantage to company with
corporate social responsibility is attracted more investor from the various sources. Investor are
invested for the company it is the goods image in that marketplace because investor are invested
when goodwill or reputation of company is good in marketplace and between the customers.
Goodwill of company is significantly enhanced in case of CSR is well and make more peoples
interested in investing its best program. But as per the view of Hart, (2018.), company reputation
is at stake. Company is comply with the CSR policies, then it is supposed to inform all the
limitations associated with its products and goods. Like: company produce various products, in
that one is not proper then it is effect to the company ans its brand image at marketplace.
This is only causes loss of trust amongst customers but also for the company. Liang and
Renneboog, (2017) says that, the CSR is the help to promotion in positive way. There are various
differences between the publicity and positive publicity. Publicity of product in goods way it is
important for the company and that make peoples who they are buy their product and services of
company. However, it is important to have the good and better image in the eyes of public
because wrong brand image is downfall in the sales. Good publicity can easily help to earn by
performing the decent corporate social responsibility program.
In contras CSR have demerit as per the Liang and Renneboog, (2017), say it increases in
cost of production. CSR program is lead to the extra cost of the company. Increment in the cost
forces are company is to increase the basic price of product and that is not goods for the
company growth in the right and positive manners because extra is paid by the customers.
CONCLUSION
From the above study it had been concluded that the corporate social responsibility of the
business leads the success of every business organisation because it improved the brand image of
company. It contributes in the social activities as well as environmental issues. Through the
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practising the corporate social responsibilities policies companies bring the positive brand image
at marketplace.
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REFERENCES
Books and journals
Albuquerque, R., Koskinen, Y. and Zhang, C., 2018. Corporate social responsibility and firm
risk: Theory and empirical evidence. Management Science.
Assiter, A., 2017. Transferable skills in higher education. Routledge.
Cegielski, C. G. and Jones‐Farmer, L. A., 2016. Knowledge, skills, and abilities for entry‐level
business analytics positions: A multi‐method study. Decision Sciences Journal of
Innovative Education. 14(1). pp.91-118.
Cottrell, S., 2017. Critical thinking skills: Effective analysis, argument and reflection. Macmillan
International Higher Education.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Hart, C., 2018. Doing a literature review: Releasing the research imagination. Sage.
Liang, H. and Renneboog, L., 2017. On the foundations of corporate social responsibility. The
Journal of Finance. 72(2). pp.853-910.
Machi, L. A. and McEvoy, B. T., 2016. The literature review: Six steps to success. Corwin
Press.
McWilliams, A., 2015. Corporate social responsibility. Wiley encyclopedia of management,
pp.1-4.
Wibrowski, C. R., Matthews, W. K. and Kitsantas, A., 2017. The role of a skills learning support
program on first-generation college students’ self-regulation, motivation, and academic
achievement: A longitudinal study. Journal of College Student Retention: Research,
Theory & Practice. 19(3). pp.317-332.
ONLINE
Importance of corporate social responsibility. 2017. [Online], Available through:
<https://www.managementstudyguide.com/importance-of-corporate-social-
responsibility.htm>
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