Purpose and Role of Corporate Social Responsibility
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Table of Contents INTRODUCTION...........................................................................................................................3 1.Meaning, purpose and role of literature review.......................................................................3 2.Literature review on the topic Corporate Social Responsibility..............................................5 CONCLUSION................................................................................................................................7 REFRENCES...................................................................................................................................8
INTRODUCTION Literature review comprises of discussing already published subject area, sometimes it comprises for a particular period of time. It involves both summary and synthesis of the available information. Summary is a recap of the information of different sources where as synthesis involves reorganising of the available information. The report comprises of literature review on corporate social responsibility(Alaraimi and et. al., 2014).CSRisenterprisemodel that helps the organisation to be socially accountable. It is way by which company is can be conscious of their impact which they are having on the society which includes environment, economy and society. 1.Meaning, purpose and role of literature review Literature review is basically summary of the previous researches on a particular . The researcher surveys different scholarly articles books and other source that re applicable to a particular area of research. The researcher review the information in order to enumerate, evaluate and to provide clarity to the previous research that are being done by the earlier researchers (Assiter, 2017). It comprises ofacknowledging the work of the previous researchers and assure that the reader is provided with valuable information that will be needed by them in further research process. It creates a landscape for the readersby giving them a full understanding of different developments have happened in the related field. The main purpose of writing a literature review is to enlightening the researcher about the already established ideas established on a topic. In order to link the knowledge of a given field the process involves three layers. First layer consist of the primary studies which are being conducted and published by the researcher. Second comprises with reviewing and summarizing and also offering new interpretations. Third layercompriseswithperceptions,conclusionandinterpretationswhicharebeingshared informally(Crowell and Kuhn, 2014). Literature review can be conducted in different form such asArgumentative,historicalandmethodologicalresearcherwilladoptstyleasperthe requirement of the research. It helps in providing an handy guide to the particular topic. It comprises of different task such as- ï‚·Summarising the prior work done in the particular area of study. ï‚·Developing a familiarity with the information and their interpretation for getting the future direction(Foronda and et. al., 2014).
ï‚·Demonstrate learning outcome comprising of new ideas which evolved in the process. The purpose of the literature review is to enlighten foundation of knowledge and to interpret the previous work of the researcher in order to correlate their work with the research. It's purpose can be further elaborated below- ï‚·It comprises with identification of the area where prior scholarship have worked so that duplicationcanbepreventedandalsocreditcanbeprovidedtothemfortheir contribution in the particular filed(McGuire, 2015). ï‚·It helps in determination of the gaps that exist in the prior research so that they can be used to solve issues such as conflict and open ended question that have remained unaddressed by the earlier researchers. ï‚·It also defines that why the research needed to be conducted. ï‚·It helps placing researcher own work within the context of existing literature which will explain the need for conducting the current research. ï‚·It provide an foundation of knowledge on a particular area of study. ï‚·It identifies the relationship of works in relation with the its contribution to the area of study and to other works as well. Literature review is anprocesswhich comprises of what have beenpublicizedon a particular area orsubject. It involves enlarging the knowledge about the topic and helps to gain and demonstrate skills(Persky, Henry and Campbell, 2015). It plays anessentialrole in the entire researchprocedurewhich can be elaborated below- ï‚·Demonstrating role- It involves demonstrating that the researcher is well informed scholar having expertise and knowledge in a particular field. It can be concluded by analysing the overview of the current literature which is being provided by researcher. ï‚·Identification role- It helps in identification of gap in the literature that have not been addresses by the earlier scholars in their study. It also helps in development of ideas that can be used in order to address these gaps(Rozakis, 2018). ï‚·Synthesis role- By analysing the topic the researcher gets an insight about the trends, issues and concepts which are related to theinvestigationtopic.
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2.Literature review on the topic Corporate Social Responsibility. Corporate social responsibility can be studied as a integration of socially beneficial programmes and practices that are being adopted by organisation's in their business model. This concept suggest that it is organisation's responsibility to contribute towards the society, economy and environment(van der Stel and Veenman, 2014). It is a wide concept that addressee different subjects such as corporate governance , health and safety and human rights. It's implementation differs from organisation to organisation and serves an an important factor for organisation which cab be understood from the following points- ï‚·Greater loyalty among employees- Treating employees in a fair manner is an part of the corporate social responsibility. Organisation which provide high professional and moral standardalong with good jobs tents to create the higher level loyalty among their workforce. ï‚·Better brand image-Companies who showcase their commitment to various cause are perceived as more philanthropic as compared to organisation who are not fulfilling their corporate social responsibility. Consumer feel good to be associated with a brand that helpthecommunityandwillwanttobemoreassociatedwithsuchinstitution. Organisation's can improve their brand image by various methods such as by monetary donations, donation of product and service and voluntarism. ï‚·Boost employee engagement- Employee tent to work for the organisation's that have an good public image and enjoys constant media attention for all the positive reasons. If the employee are happy about their association with the brand they will work with higher level of motivation which will help the business to produce better output. ï‚·Attract and retain investors- As investors are investing their money and time in the organization they tent to worry about how their money will be used. When organisation involves themselves in activities such as donation and volunteering they reflect that they not only care for profits but also for other things such as their employee and society. Thus they will be able to gain the confidence of investors with their strong sense of corporate social responsibility. ï‚·Cost saving-There are certain changes that have been taken by the organisation in order to maintain sustainability in the environment for instance of using less packaging which have not only helped the organisation in reducing cost but also helps them to fulfil their
duty toward environment. By adoption of less packaging organisations are able to save cost which they can use in different other business areas for increasing their efficiency (Wibrowski, Matthews and Kitsantas, 2017). Literature review on corporate social responsibility- According to Shafiq (2011)Corporates social responsibility of an organisation involves involves various things such as improving quality of life, ethical business practice, increasing the qualityoflife,voluntarisms,environmentalprotection,andtransparencyandtaking accountability of impact of it's activates effect on society as well as on environment.As the world is growing and organisation needs to conduct certain activities in order to serve these changessuch as human rights which provide equal rights to every individuals that enables equity in the workplace. As the rights have been provided to every individuals they tent to work more efficiently towards achievement of overall organisational goals. According toSchwartz (2011)Virtually explained that all the explanations of corporate social responsibility involves businessesfirmshaveobligatedtowardssocietybeyondtheireconomicalobligationto shareholder. It is duty of organisations to think beyond just earning profits and focussing on fulfilment of their duty towards the society. As they need to account for their implication on the environment and society. Through establishment of Corporate social programmes and activities they will be able to reduce their impact and increase their brand image in the society. According to Simpson and Taylor (2013)CSR is referred to as extra responsibility of organisation to local and wider communication which is apart from it's core responsibility which involves earning high profits.Organisation core focuses is on earning profit by producing product and services and fulfilling customers needs and wants. Corporate social responsibility serves as an add on to the already existing responsibilities of the business it involves businesses to step up and conduct activities that can create an positive impact on local and wider communities which involves current and potential customers and investors. As per Douglas and Emily (2011) Business environment have emerged with time and in order to survive these changes organisations have been forced to adopt various strategies.CSR is one of the strategy that is being adopted by business organisations in their business model. In order to cope with dynamic world and compete with competitors businesses organisation will use CSR activities so
that they can influence their employee and motivate them in order to work more efficiently (CSR Definition2013). According to HernandeZ Murillo and Martinek (2009) Corporate social responsibility action ofa Organisation is aligned with interest of the firm. These activities assist an organisation to earn higher potential benefits to both society and firm as wellif they are taken strategically and specifically. As corporate social responsibility programme help an organisation to generate interest about it's product and services among the customers. As it creates an positive image in the minds of customers it influence their purchasing patterns and works in the interest of the organisation (Corporate Social Responsibility2019). According to Horrigon (2010) There is no general explanation of Corporate social responsibilitywhich is because of the high level of ambiguity and different controversies associated with the topic. As CSR is an complex process and involves management team of organisation to plan the entire programme effectively so that they can be implemented smoothly in the business processes. According to World Business Council for Sustainable Development in Hopkins (2008) CSR involves Organisations continuous commitmentby behaving ethically and contributing to the development of economy while also improving the quality of life of the staff members and their families, local communities and society at large.It involves improving the quality of workforce by treating the staff member in fair and square manner. It help in retaining and attracting staff members and also facilitates equality in the workplace as the organisation is treating every member in an fair manner. Through this the organisation is able to raise the standard and also are able to work ethically in the workplace. According to Freeman and Hasnaoui (2010) They examined the meaning of CSR from the vision of United Kingdom, France and Canada. There enabled an looking for consensus of understanding and proposed framework in order to examine the international adoption and practices of corporate social responsibility using triple bottom line. They were not able to continue discussion because of the differences between the backgrounds of the researchers. And also because of their incapability in conceptualizing corporate social responsibility. CONCLUSION From the above study it can be concluded that literature review comprises of study of a particular area or topic which a researcher chooses it also involves interpretation of the work of the previous researcher that are to be correlated with the study in order to reach new ideas and
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also to address the unaddressed issues that are not yet defined by previous researcher. Later part of the report deals with the corporate social responsibility that an organisation adopt in order to beethical accountable towards society andsurroundingsas well. It also comprises of literature review of corporate social responsibility which involves analysing the definition of it from the point of view of different authors.