Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 Literature review and its purpose.................................................................................................1 Literature review on corporate social responsibility....................................................................2 CSR and competitive advantage..................................................................................................4 Issues under Corporate social responsibility................................................................................5 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................7
INTRODUCTION Skills is the ability to acquire something new to perform the particular task. It is the capacity that will be acquired so as to sustain the effort smoothly and creatively to carryout the different activities. These activities are to be carried out by involving some ideas. Skills comprises positive attitude, communication, teamwork and self management etc. that is possessed in an individual to perform the business activities. An individual need a broad range of skills to contribute in the business. There are mainly two types of skills hard and soft skills. Skills are categorized based on the level of expertise and motivation. Report will include the meaning of literature review and its purpose. Further more it will includethemeaning,importance,benefitsandissuesrelatedtothecorporatesocial responsibility. MAIN BODY Literature review and its purpose A literature review is the type of article that is written in the context of particular author. Different authors are having different views on the particular topic. It is the sub field of publishing the academic paper that includes the current knowledge involving the findings given by authors. It can be written theoretical as well as methodological format on a particular topic. These are the secondary sources collected from the research papers or through other documents. It does not consist of original work. Literature review is associated with the academic journal as the matter is taken from the journals. Literature reviews are written on the basis of research paper as the person who are doing PhD has to make a report in that literature review is taken. A narrow scope literature review is evaluated by the one or more people with the similar competence to check the work. The reviews are usually given by the different authors that consist of different sections under the literature review(Shin, Hur and Kang, 2016). Literature review is also written by the graduate and post graduate student in colleges. As they are preparing the thesis, dissertation or a journal article. These are common in research projects that are being done by the students in making thesis. There are three types of literature review such as evaluative, exploratory and instrumental. Fourth type is the systematic review that is classified separately. It is focused on the research question, tries to identify the arguments that are relevant to the question. A meta analysis is a type of systematic review that is used to review 1
the statistical methods to combine the data so that a reliable result is to be presented regarding the study conducted(Damand Scholtens, 2015). Purpose of literature review The purpose of literature review is to gain the understanding of the existing research that is conducted by the researcher on a particular topic or area in which the study is being conducted .The knowledge is presented in the form of written reports. Literature review helps in building the knowledge in a particular field. Through this knowledge is gained related to the Important concepts, research methods and experimental techniques that are used in different fields by the researcher. The knowledgecan be obtain as how researcher apply the concepts in solving the problem that occur while doing the research. Another benefit of literature review is that it will provide the clear understanding that how research findings are presented and discussed in the particular topic. If paying attention that how to write the literature review will help in achieving a similar style of writing and can become more successful in writing in the particular discipline. Literature review does not need a structure and consist of different subheadings and sections(What is corporate social responsibility,2019).t is written in an essay style. LR is written in making different projects of international clients. It determines the sources from where the topic is to be taken. It builds the understanding between the different contributions that are given by the researcher in the study. It explains the research design that is being followed in the writing the LR and methods used for data analysis. Literature review on corporate social responsibility Meaning According to theHart, C., 2018.Corporate social responsibility is a business approach that is being used by the different owners of the company for the purpose of doing social welfare for the country. Institutions that are run under the CSR activities is non-profit organizations. Some examples of such organizations that are running under the CSR is transparent hands, kick starter, seedrs,justgivingetc.Therearefourtypesofsocialresponsibilitythatincludelegal, philanthropic, economic and ethical. This practice is done by the company to improve the social welfare activities of the country. Mostly large organizations are doing the CSR activities so as to create the social welfare among the people. Still, most of the companies are not doing this activity. CSR policies and programs helps the society in growing for the future. Activities that re 2
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involved under this are removing poverty and measures taken to prevent the health care and sanitation. It promotes sustainability in the environment. Models and theories of CSR The Archie Carroll Model As per the view of theLu, H., Zhao, Y. and While, A., 2019.the Carroll's model of corporate social responsibility is a pyramid that was framed to describe the whole expectations of the society by fulfilling the business responsibilities and define these responsibilities into different categories. According to this model social responsibilities are of four types : economic, legal, ethical and philanthropic. Economic responsibilities means making profit for the business. Legal means obeying the laws of the society. Its the legal responsibility of the person who is living in the society to follow the rules and regulations of the society. Ethical responsibilities means behaving in the ethical manner without breaking the rules of the society. Philanthropic include that always behave like a good citizen and contributes to the resources of the society. Quazi and O'Brien's Two dimensional Model Machi, L.A. and McEvoy, B.T., 2016.stated thatthismodelof corporate social responsibility consist of two axes. The horizontal axis consist of capturing the various views of social responsibility from the narrow view. The vertical axis of the model consist of two responsibilities first in term of perception of the people in taking the social actions of business. The intersection of the two axes are four quadrants that represent the four views of corporate social responsibility it consists of classical view, the socioeconomic view, modern view and the philanthropic view. The classical view focus on the cost and narrow concept of responsibilities. The socioeconomic view focus on the potential benefits with narrow concept of responsibility. Themodernviewfocusonbenefitsandwide conceptofresponsibilitiesand lastlythe philanthropic view focus on the alertness to cost and wide concept of responsibilities. Theories Stakeholder Theory Booth, A., Sutton, A. and Papaioannou, D., 2016.argued that this theory of corporate social responsibility is the well known and accepted by the stakeholder. In this model it is defined that most of the firms have a large number of stakeholder in the firm. There are two types of stakeholders first is the primary and the secondary stakeholders. In primary stakeholder the participation of the corporation cannot survive for the long period of time. Secondary 3
stakeholder is defined as those who are affected by the corporation. This theory challenges that the shareholders are given more importance over the stakeholders of the firm. This theory provides that the claims of the shareholders and stakeholders should be balanced and after balancing this the organisation can maintain the equal support from shareholder and the stakeholder. This is also discussed in the theory that how different stakeholders may work togetherto achieve the goal of the business. Now stakeholders are gaining attention from the managers of the company. Stakeholders are divided into different levels depending on the number of categories into which they are falling. The main stakeholders of the groups are shareholders, employees, customers , local community and the environment. Legitimacy Theory As per the view of theCrowther, D. and Seifi, S. eds., 2018.this theory reacts to the environmental factors like economic, social, political etc. and this theory helps in taking the actions against those factors that affect the environment. It is based upon the notion that business will operates in society through the specific contract where it agrees to take the social actions for the purpose of achieving objectives. This theory states that there will be balance between the socialvaluesandsocialnormsintheorganisation.Itdefinesthatthecorporatesocial responsibilities react to the environmental factors. Actions are being taken to remove the effect of the environmental factors. The business is affected by two factors i.e. internal and external factors. Internal factors can be called the internal environment while external factors are called external environment. Internal factors are controllable while external factors are uncontrollable. CSR and competitive advantage According to theFrynas, J.G. and Yamahaki, C., 2016There is a link between the CSR and competitive advantage can be achieved when the social needs, environmental limits and the corporate interest are well coordinated within the business. It provides value to the company and the society. Social responsibility is proves to be cost effective. CSR and competitiveness are linked with the three management processes: strategy, stakeholder and the responsibility. If the CSR strategy is being adopted by the company directly affects the competitiveness of the business. Vision of the company expands the CSR and improves the relationship between the main stakeholders of the company. There are many ways to define the relationship between the CSRandcompetitiveness.CSRisaformofdifferentiationthathelpsinachievingthe competitive advantage. Competitive advantage of the business leads to the sustainability of the 4
country. The reputation of the company also affects the competitiveness in the market. It contributes to the positive market value that can help manager in achieving the competitive advantage. Due to the dynamic market environment business cannot achieve the long term competitiveadvantage.CSRactivitiesaffectthemajorcomponentsoftheorganisational structure. Company's key business policy helps in achieving the competitive advantage for the business. It requires more development and capacity building to remove the poverty, pollution and corruption from the country. Competitiveness is a multinational concept of getting success in the business. Competitiveness is the ability to produce the goods and services that create the value for the business. Productivity also leads to the competence in the market. Issues under Corporate social responsibility Boccia, F. and Sarnacchiaro, P., 2018.stated that equality in the workplace is the biggest issue under corporate social responsibility. Equality in the workplace means there will be fair and equal treatment of employees in the organisation as there will not be equality regarding the gender, race, disability, religion, nationality or age. Equality means making all the people equal opportunities and equal pay in the organisation. There is no discrimination between the people under the organisation. Itcreates a bad impact in the organisation of inequality in the company. It is the biggest issue in the corporate social responsibility. Equality should be there in the workplace so that the work can be done effectively and efficiently. Equality is must in the workplace. There is equal treatment in the workplace for the employees in the organisation. Equality is the main factor that affect the working in the organisation. CONCLUSION From the above study it can be concluded that skills are necessary for everyone in the business. Without skills the organisation cannot run effectively and efficiently. Literature review is the type of article that is written in the context of the particular author. It gives a clear understanding of the research that is being done by the researcher. Literature review can be in the form of methodological or theoretical aspect. As in this the work is not originally done by the author. Corporate social responsibility is the management approach that is being done by the organisation for social welfare of the people. CSR comprises of legal, philanthropic, economic and ethical concepts of business. There are various theories and models of corporate social responsibility such as legitimate theory, social contract and relational theory etc. CSR activities 5
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also helps in achieving the competitive advantage for the company. Company's vision helps in achieving the competitive advantage. 6
REFERENCES Books and journals Boccia, F. and Sarnacchiaro, P., 2018. The impact of corporate social responsibility on consumer preference:Astructuralequationanalysis.CorporateSocialResponsibilityand Environmental Management.25(2).pp.151-163. Booth, A., Sutton, A. and Papaioannou, D., 2016.Systematic approaches to a successful literature review. Sage. Crane, A., Matten, D. and Spence, L. eds., 2019.Corporate social responsibility: Readings and cases in a global context. Routledge. Crowther, D. and Seifi, S. eds., 2018.Redefining Corporate Social Responsibility. Emerald Group Publishing. Dam, L. and Scholtens, B., 2015. Toward a theory of responsible investing: On the economic foundations of corporate social responsibility.Resource and Energy Economics.41.pp.103- 121. Frynas, J.G. and Yamahaki, C., 2016. Corporate social responsibility: Review and roadmap of theoretical perspectives.Business Ethics: A European Review.25(3).pp.258-285. Grayson,D.andHodges,A.,2017.Corporatesocialopportunity!:Sevenstepstomake corporate social responsibility work for your business. Routledge. Hart, C., 2018.Doing a literature review: Releasing the research imagination. Sage. Lu, H., Zhao, Y. and While, A., 2019. Job satisfaction among hospital nurses: a literature review.International journal of nursing studies. Machi, L.A. and McEvoy, B.T., 2016.The literature review: Six steps to success. Corwin Press. Shin,I.,Hur,W.M.andKang,S.,2016.Employees’perceptionsofcorporatesocial responsibilityandjobperformance:Asequentialmediation model.Sustainability.8(5).p.493. Online Whatiscorporatesocialresponsibility.2019.[Online].Available through<https://www.bigcommerce.com/ecommerce-answers/what-is-corporate-social- responsibility-csr/> 7