Corporate Social Responsibility: Importance, Literature Review, and Analysis

This article discusses the importance of corporate social responsibility (CSR) in achieving business sustainability. It includes a literature review on CSR, analyzing its strengths and weaknesses. The article also provides recommendations for implementing effective CSR practices.

Study Skills
for
Higher Education

INTRODUCTION
Corporate social responsibility is a business approach that contributes a sustainable
development by delivering their values towards economic, social and environmental benefits to
all stake holders. It is one of the wider concept that consist of many stuff such as human rights,
corporate governance, health and safety, environments, an organization working condition
towards economic development of society. It is important for an organization as it describe the
way it demonstrate social responsibility towards society so that they can achieve their goals and
objectives in competitive market place. Moreover, it helps an organization to build strong
relationship and good brand image in competitive marketplace as well as attain sustainability for
longer period of time. It also helps in improving empowering women, helping environment,
trying to end poverty as well as more companies are incorporating social responsibility in to their
overall business strategy. This report is based on corporate social responsibility, its importance
and purpose along with purpose of literature review. Moreover, analyzing issues related to
corporate social responsibility activities as well as analyzing the strength and weakness of CRS
as per few authors’ view points. Furthermore, providing certain recommendation and suggestion
towards the welfare of the economy and society in wider context or area.
1.1 Literature review
A literature review is a comprehensive summary of previous research on a particular
topic. It consists of reviews in survey and other sources relevant to a particular area of
research. Basically, it acknowledge the work of previous research as it has been assuring
that the work has been conceived. Initially, it creates a landscape for a reader or a
researcher in an appropriate manner in a particular subject area. Moreover, it informs that
the authors has assimilated all the previous, significant work in field of its research. In
other words it can be defined as a sources of summary that are organize in an effective
manner that consist of both summary and synthesis. Eventually, it is a depth of evaluation
of a previous research as it is a summary or synopsis of a particular area of research. It
helps a reader to know the depth of a particular data and help to gain and explore things
in an attractive manner. Thus, it critically analysis information that are gather by
identifying gaps of a particular subject with the help of limitation, theories and views
point and by formulating areas for further research and reviewing areas of controversy.
1.2 Purpose of Literature review
Literature review usually explains, focus and establishes importance on a particular
subject. It provides background or history of a particular topic as a framework of thesis
of statement. The purpose of literature review is that it gives reader and easy access to
research on a particular topic by selecting high quality of articles or studies that are
relevant, meaningful, importance and a valid summary of a complete report. Moreover, it
usually provides a excellent starting point of researcher to focus on new area by forcing

them to summarize, evaluate and compare an origin research on a specific area.
Eventually, it ensures a researcher to have an authincated data that are effective in nature.
It also help an researcher to have knowledge, ideas, clues which are recommended by a
particular author with appropriate highlights and key findings. Literature review aslo
focus on in consistency sand gap of a particular reasech that provides a constructive
analysis of a particular topic with effective mythologies and approaches of other
researcher. Hence, it gives a conclusion with evidence that are presented andshown with
significance.
2. Literature Review:
2.1 Definitaion of Corporate social resoponsibilty as per literature review
As per the views of Krumpal, corporate social responsibilities (CSR) is defined as an
activities which are conduct by an organization in order to achieve its goals and objectives as
well as sustainability for longer period of time. With the help of corporate social responsibilities
an organization able to boost their business operations, functions as well as activities in an
attractive manner in effective and appropriate manner. Its aims objectives to work towards the
wlfare of the socity so that they can have good brand image in competitive market place. Apart
of this, they are also able to maintain effective public relation and by this loyalty of employees
also get increased. Thus, an organization able to gain competitive advancement in proper
manner so that they can attain sustainability for longer period of time.
2.2 Known about this topic
Herein, corporate social responsibility is known as an effective tool for an organization
as it help an organization to work towards the society and economy as whole. It provides benefit
to an organization to enhance their productivity, profitability and sustainability for longer period
of time though there are various factors that are influencing corporate social responsibilities in
effective manner such as recognition which is related to how owner of a business is showcasing
their organization in front of public. Thus, by practicing CSR activities an organization able to
enhance its public concern which help them in increasing profits in effective and efficient
manner.
2.3 Issues related to corporate social responsibility
Corporate social responsibility promotes a vision of business and accountability in wider
context of area such as stakeholders and investors. Eventually, it is a commitment by a business

to behave ethically as well as contribute towards economic development by improving quality of
life through workforce and their families as well as local communities and society at large.
Moreover, with strong corporate social responsibility an organizational improves its customer’s
attitude toward society and economy at wider context area. Such as if customers like products
of a particular company many purchase same product again and again as well as not feel
comfortable switch to another brand. Apart from this, positive corporate social responsibility an
organization will able to provide a positive public relation throughout online and social media.
Moreover, instead of free publicity and benefit of worth of mouth. Thus, a corporate social
responsibility creates more business opportunity as continuous interaction creates benefit in
competitive marketplace. Apart from this, there are some of the drivers that are effecting
corporate social responsibility such as:
Shrinking role of government: In past time governments have laid certain rules and
regulation to deliver social and environment objectives in their business sector. Moreover, many
organization have coupled with distributed of regulation that an organization need to perform
corporate social responsibility
Growing investors demand: In today’s context investors are emerging in many
companies performance and that are impacting in decision making process. Moreover, they are
impacting the ethical and social issues that are impacting on various corporate social
responsibilities in manner.
Thus, the above mention are some of the drivers that are affecting corporate social responsibility
in competitive advantage. As in toady’ context it is one of the essential activity that are
necessary to perform by each and every business activities.
2 Ananlysis of Corporatesocail respoinsibility
As per the view pint of Mallen Baker, Corporate social responsibility is a process that a
company manages to produce an overall positive impact on society. It basically covers social
impact and ethics which are done a business in order to maintain their sustainability for
longer duration of time. Eventually, it is a commitment by a business to behave ethically as
well as contribute towards economic development by improving quality of life through
workforce and their families as well as local communities and society at large.

In other words it has been defined as one of the most effective framework in building
sustainable livelihood. Moreover, it respect culture difference and create opportunities in
building skills and development in employees, community as well as work towards welfare
of the company. Additionally it is a self regulated business model that helps a company to
be involve both socially and accountable towards itself, society, economy as well as towards
its stake holders. Many companies or association are conscious of its positive impact in all
aspect of performing their business activities towards society, including economic, social and
environmental.
Initial a company engages in corporate social responsibility means an organization is
operating in many different ways such as by enhancing society and environment instead of
contributing in forms of negativity. In this way they are creating weakness within an
environment that adversely affect an organization in competitive market. Moreover, it
basically create a strong brand image among organization, society, its employees and staff
members as it bring out transparency among all of them. It also boost up the morale among
employers, employees as well as staff members so that they feel connected to each other and
perform their roles and responsibilities as per their job designation respectively
As per the view of article given on Out- Law on the topic of corporate social
responsibility- the UK corporate governance code, 2019, it can be consider that CSR is
playing a essential or important role in order to make business successful at marketplace.
Along with this government of almost all countries are supporting to corporate social
responsibility in which each and every company has to conduct some activities in order to do
social service
According to article Corporate Social Responsibility in the extractive industries:
Experiences from developing countries, 2019, Corporate Social Responsibility can be
defined as a form of self-Regulation practiced by businesses and this is integrated into the
business model. It helps a business to embrace responsibility for its actions and encourage
positive impact through its activities relating to protection of the environment and rights of
consumers, employees, communities and stakeholders. It will be correct if we say that
Corporate Social Responsibilities is affecting the Oil and Gas's companies of developing
country. Here Developing country refers to those countries that are less developed and has

lower per capita income including low life expectancy and low literacy rates. Corporate
Social Responsibilities is affecting oil and gas industry in a way that almost every company
has to make some investment in community health and education.
Herein, though an author is having appositive viewpoint regarding CSR activity but the
other side it have negative outstood. If an organization fails to perform activities in an
effective manner than an organization will able to attain sustainability for longer period of
time. Moreover, one of the biggest impact the organization that government have become
mandatory to perform CRS activities so that they can sustain in competitive market place.
Recommendation
From the above discussion it has been determined that corporate social responsibility
plays a vital role in competitive market place. Herein some of the recommendation that rare need
to be followed by organization areas:
 Herein, an organization need to follow certain rules and regulation that are being abided
by government so that uniformity prevails in their business operation as well as in
economy too.
 Moreover, they need to create such activities which is beneficial for both organization
society as well as economy as a whole.
 They should cope up with various attractive CSR activity that society gets attracted
towards and able to build up strong image in competitive market place.
Thus, the above mention are some of the recommendation that an organization can in
competitive market place so that they can attain sustainability for longer period of time.
CONCLUSION
From the above discussed point it can be conclude as well as analysis corporate social
responsibility is a business framework that works towards values towards economic, social and
environmental benefits to all stake holders. It is one of the essential process that helps an
organization to attain sustain ability for longer period of time competitive market place. Apart
from this, literature review is essential because it will also help them in collecting data in
appropriate manner. It is a secondary method of data collection in which a person can collect
data by evaluating books and journals which are prepare by any other writers. Thus, it provides
variety of information to reader about respective topic in effective and appropriate manner.

REFRENCES
Books and journals
Machi, L.A. and McEvoy, B.T., 2016. The literature review: Six steps to success. Corwin Press.
Booth, A., Sutton, A. and Papaioannou, D., 2016. Systematic approaches to a successful
literature review. Sage.
Krumpal, I., 2013. Determinants of social desirability bias in sensitive surveys: a literature
review. Quality & Quantity. 47(4). pp.2025-2047.
Caunhye, A.M., Nie, X. and Pokharel, S., 2012. Optimization models in emergency logistics: A
literature review. Socio-economic planning sciences. 46(1). pp.4-13.
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Tai, F.M. and Chuang, S.H., 2014. Corporate social responsibility. Ibusiness. 6(03). p.117.
Jo, H. and Harjoto, M.A., 2012. The causal effect of corporate governance on corporate social
responsibility. Journal of business ethics. 106(1). pp.53-72.
Online
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assessment.co.uk/guides/an-introduction-to-corporate-social-responsibility-csr/>.
What is Corporate Social Responsibility. 2019. [Online]. Available through:<
https://www.bigcommerce.com/ecommerce-answers/what-is-corporate-social-
responsibility-csr/>.
Corporate social responsibility – the UK Corporate Governance Code. 2019. [Online].
Available through:< https://www.out-law.com/page-8221>.
Corporate Social Responsibility in the extractive industries: Experiences from developing
countries. 2019. [Online]. Available through:<
https://www.sciencedirect.com/science/article/abs/pii/S0301420712000037