Analyzing Corporate Social Responsibility in the Business Context

This report provides an overview of Corporate Social Responsibility (CSR) and its significance in the current business environment. It begins with an introduction to CSR, emphasizing its role in integrating social and environmental goals into business operations for long-term success, including brand image enhancement and attracting top talent. The report then delves into the importance of CSR, highlighting its impact on brand image, increased customer engagement, and competitive advantage. Furthermore, it addresses the challenges of incorporating CSR, such as aligning goals between CSR and financial teams and accounting for external environmental costs. The report concludes by summarizing the benefits of CSR implementation, reinforcing its importance for achieving excellence in a competitive business landscape. It references several academic sources to support its findings.

CORPORATE
SOCIAL
RESPONSIBILITY
AND BUSINESS
ENVIRONMENT

TABLE OF CONTENT
 INTRODUCTION
 Corporate Social Responsibility
 Importance
 Challenges of incorporating CSR in current competitive business environment
 CONCLUSION
 REFERENCES

INTRODUCTION
 Corporate social presentation can be understood as
practise of management integrating social,
environmental goals into company business
operations.
 The various role CSR plays for company long term
success include brand image, attract top quality talent
and enable contribution towards societal gaols
ethically.
 It is highly important for companies to engage in
societal betterment and enhance its working horizons
with implementation of CSR policies.

Corporate Social Responsibility
 CSR has become one of most important business practise for companies to indulge in competitive
business world for enhancing overall reputation and presenting powerful image among customers
in market share.
 Establishment of CSR policies are crucial element for companies to develop in highly competitive
business world, where customers give relevance to products of companies who satisfy the
environmental needs effectively.
 It positively impacts company performance levels on global platform as there is high concern of
climate change among businesses. Sustainability strategies must be considered an inseparable part
for management hierarchies to develop in products and services offerings, by implementing steps
to address environmental issues.

Importance of CSR
Improved brand image- CSR has high impact on
company brand image in competitive business world
where consumers lay high importance on company's
products and services while purchasing. Companies
by completing their ethical responsibilities towards
environment and society present themselves as an
environmental friendly brand image which is highly
effective to enhance customer loyalty.
Increased brand awareness and Recognition-
Embracing CSR policies enhances brand awareness
among market share and increases customer’s
recognition for long term growth.

CONTINUE…
 Advantage over Competitors-Incorporating CSR policies allows companies to gain advantage
over competitors effectively among consumers and shareholders. It positively enhances the
company’s performance reports, statistics how it has contributed towards society and environment
plays crucial importance for companies
 Increased customer engagement- Customers highly appreciate CSR policies by companies which
can be enhancing environmental conditions, attempt to eliminate poverty on global level.
Companies can experience increased customer engagement along with high loyalty towards
products and services by engaging the company stricture for betterment of overall society.
 Greater employee engagement- Socially responsible companies tend to attract employees who are
eager to create difference in world with their performance levels.

Challenges of incorporating CSR in current competitive
business environment
 Companies lack metrics to account for external environmental Costs-It becomes
difficult for companies to analyse the real costs and risks associated with their investments
in connection with environment factors.
 Goals of corporate sustainability teams and financial teams are not well aligned-The
goals of CSR teams and finance departments are not always in cooperation, due to which
there is lack of transparency.
 Management Dilemma-Incorporating CSR policies increases management dilemma as it
largely impacts on operational structure of company on whole.

CONCLUSION
 This report concludes Corporate social
responsibilities is highly important for companies
to incorporate in business structure for achieving
long term excellence in highly competitive
business world.
 It concludes that there are various benefits for
companies to achieve through CSR policies
implementation which are improved brand image,
recognition in market share, increased customer
segments along with high morale of employees
working in management teams.

REFERENCES
Colucci, M., Tuan, A. and Visentin, M., 2020. An empirical investigation of the drivers of CSR talk
and walk in the fashion industry. Journal of Cleaner Production. 248. p.119200.
Dias, A., Rodrigues, L. L., Craig, R. and Neves, M. E., 2019. Corporate social responsibility
disclosure in small and medium-sized entities and large companies. Social Responsibility Journal.
Kuokkanen, H. and Sun, W., 2019. Companies, meet ethical consumers: strategic CSR management
to impact consumer choice. Journal of Business Ethics, pp.1-21.
Lu, J., Ren, L., Lin, W., He, Y. and Streimikis, J., 2019. Policies to promote Corporate social
responsibility (CSR) and assessment of CSR impacts.
Marinina, O., 2019, July. Analysis of trends and performance of CSR mining companies. In IOP
Conference Series: Earth and Environmental Science (Vol. 302, No. 1, p. 012120). IOP Publishing.
Noor, A. M., Karsidi, R. and Kartono, D. T., 2019. The Institution of Corporate Social
Responsibility (CSR) Based on Coal Mining Companies Stakeholder. Rev. Universitara Sociologie,
p.90.