A Literature Review on Corporate Social Responsibility Practices

This report presents a literature review on Corporate Social Responsibility (CSR), exploring its definition, benefits, and various practices. It begins by defining literature reviews and their purpose, then delves into the concept of CSR, examining how organizations implement CSR activities to enhance brand image and stakeholder loyalty. The review covers different types of social responsibility, including ethical, legal, economic, and philanthropic aspects. It also discusses the advantages of CSR, such as improved brand recognition, increased sales, and enhanced customer loyalty, as well as examples of CSR initiatives like ethical labor practices and carbon footprint reduction. Furthermore, the report touches upon corporate actions and their impact on organizations and shareholders. The conclusion summarizes the importance of CSR for companies to meet their obligations to stakeholders and contribute to societal well-being. The report is supported by references to academic journals and books.

Study Skills for Higher
Education
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Table of Contents
INTRODUCTION...........................................................................................................................3
1. What is a literature review and what does it achieve?.....................................................3
2. Write a literature review on the topic “Corporate Social Responsibility”.......................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
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INTRODUCTION
Literature review is a systematic identification of an issue or a problem which is done by a
researcher in order to accomplish desired objectives (Bell and Harley, 2018). It is a broad and
comprehensive in depth-review which is done with the help of scholarly publications, critical
review and other related articles. It is done to provide a critical knowledge on a specific topic.
Literature review is done by taking help of scholarly articles, surveys, books and other related
materials. All the methods help researcher to have a theoretical base in order to conduct their
research. Present study has been conducted on, literature review of the formative concept of
Corporate Social Responsibility.
What is a literature review and what does it achieve?
Main principle of a literature review is to acquire a proper understanding of research related
topic and present that information in a form of written report. Literature review is done with the
help of scholarly articles, surveys books and different types of other relevant sources. This
review is done so to achieve critical evaluation, description and summary of a work which is
related to a problem or an issue which is required to be investigated. There are mainly three
functions of literature review that include, communicate to the reader about ideas and knowledge
that have been recognized on a particular topic, strength and weaknesses and theories and ideas
which is utilized to conduct research. Literature review is starts with an initial finding of a topic
and then focusing on topic in a narrow manner and select papers according to it. Further
selection of articles is done thoroughly and then evaluation of particular pattern is done to
conduct a literature review in a defined manner.
Literature review benefits researcher to ascertain theoretical methodologies and
framework in order to demonstrate knowledge of a particular field. It is important to gather more
data and information relating to a research topic and justify that explanation which is based on
empirical result outcomes. Literature review is important as it effectively describes originality
and relevance of researcher problem and show a manner which differentiate researcher research
form other statisticians. In addition to this, one of the main importances of literature review is
that it efficiently justifies researcher proposed methodology and demonstrates investigator
preparedness in order to complete research. Mentioned below there are some certain structure of
literature review which is demonstrated below in brief:
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Introduction: It is initial part of literature review which effectively explains the importance of
subject. In this lit of published work is mentioned along with background of the topic.
Body: It is a central part in a literature review that covers several subheadings. This part of
literature review effectively summarizes current knowledge of related subject and appropriately
highlights crucial features which points out main issues with the help of, trends, recent findings
etc.
Conclusion: This part of literature review effectively aims to provide a short summary with the
help of evidence and describe importance of topic.
Thus a literature review is considered as a most important part of a research, project and
dissertations.
Write a literature review on the topic “Corporate Social Responsibility”
As per views of Bell, Bryman and Harley (2018), it has been ascertained that various
policies have been opted by organizations for competing within competitive market. CSR
activities are carried by organizations by which they can captivate more number of customers so
that they can attain loyalty of their stakeholders. It is essential for an organization to carry out
CSR activities so that they can enhance their brand image in society. Organisation need to focus
on issues such as green issues which are essential for carrying out CSR programme. It will
facilitate them to enhance social values as well as enhance image of organization which will
assist them to have strong image within market. Corporate Social Responsibility is a formative
approach that helps an organisation to effectively contribute in a sustainable development by
offering benefit such as, economic social and environmental benefits. CSR is a manner which
helps in ensuring that companies perform their business operations in a defined ethical way by
considering factors like, environmental, social and economical impact along with taking account
of human rights. There are mainly four types of social responsibility that include, ethical, legal,
economic and philanthropic. In simple terms, corporate social responsibility is a wide term
which is mainly used to define an organisation overall effort in order to improve society in a
beneficiary way. Corporate Social Responsibility benefits companies to gain better brand
recognition and build positive business reputation in addition to this CSR will benefit
organisations to increase their sales margin and build an effective base of customer loyalty.
There are some certain examples of corporate social responsibility that include effective
improvement in labour police and appropriate embracement of fair trade practice. In addition
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with this, reduction in carbon footprints in order to mitigate climate change and effectively
engage in charity giving practices and offer voluntary efforts in society or community. Corporate
Social Responsibility is mainly a self-regulatory model that benefits an organisation to become
socially accountable to stakeholders, public and itself. It is important for a company to
effectively follow CSR functionality as it aid them to protect their national and international
social license to perform their business functions. Thus, CSR is a formative concept which
describes a manner in which an organisation gives back to their society. By abiding CSR
companies can effectively able to tend for more growth and can ensure their long run profits and
sustainability. It is important for a business organisation to be socially responsible for their
actions and build a favourable public image in order accomplish social goals.
According to Kozubíková, and et.al., (2015), it has been found that corporate action
refers to an act which was initiated by public for bringing required alterations and influences
stakeholders. Moreover, when this process is started by organization then it brings improvisation
in stocks. This creates relevant influence on financial structure of organization and shareholders.
Rationale behind opting for corporate actions is to return profit to shareholders which will create
impact on share price. Examples related with corporate actions are mergers, stock splits,
acquisitions, spin-offs and dividends. They are categorized into three, Mandatory corporate
action- This is an event which is started by board of directors which will create strong impact on
mindset of shareholders either direct or indirect impact. Participations of shareholders is
necessary by which they can corporate in actions. Voluntary corporate action- Shareholders have
power by which they can participate and elect within corporate action. Response of shareholder
is needed when decisions are to be made. Shareholders may choose that no action is required so
corporate actions are not affected. Examples are buy back offers, right issues and many others.
Mandatory with choice corporate action- They refer to options which are available with
shareholders. They select their option and submit their option; if any option is not chosen then
default option will be taken into consideration. These corporate actions can be taxable. Examples
cash dividend and stock dividend.
Corporate Social Responsibility provides different types of benefits to a business
regardless to their sector or size some of the advantages includes, organisational growth, easier
access to capital, rise in sales and consumer loyalty, positive reputation of business, operational
costs saving, better financial performance, great ability to attract talent etc. All these benefits an
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organisation to grow their business in best possible way take lead to competitive advantage. A
company by performing their CSR activity in a suitable manner can effectively able to access
finance in which they can attract more potential investors and strengthen back of business along
with this by acting in a suitable manner a company can reduce their reduce their regulatory
burden in which they can effectively build healthy and positive relationship with local authorities
which will aid them in doing their business operations in much easier way. Along with this, CSR
benefits an organisation to identify different types of new business opportunities in which they
can make development of various kinds of new goods and services. As per Wirtz and et. al.,
(2016), organization formulate various strategies linked with corporate actions n their working
premises. They are utilized for enhancing image of brand within public by which they can
fascinate large number investors and stakeholders. Such approaches creates strong impact on
purchasing behaviour of various customers in affirmative manner. Strategies which are use by
organization depicts picture of outer world with respect to competition and latest trends which
prevails within market at present scenario. It raises number of investors by which operations of
organization can be carried out smoothly. It is their responsibility to make sure that customers,
partners, communities and employees are satisfied by services or products offered by them. It is
their responsibility that their products are innovative and renders high quality so that
requirements of society can be effectively met. Furthermore, they also need to consider climate
change, industrial waste management, ethical issues and environmental issue related with
business so that they can provide society with healthy surroundings. All these factors create
strong impact on buying behavior of customers
Basically corporate social responsibility refers to business model which assist
organization to become socially responsible for public as well as stakeholders. It comprises of
methods through which organization can improvise society in terms of growth and make
effectual contribution for welfare of environment or people. There are certain standards which
aids organization to execute measures of CSR. Business plays essential role within society as
they are completely dependent for their needs on them. They depend on society for carrying out
their marketing process. Thus, it is moral responsibility of management of organisation that
secure interests of society and consider welfare of various stakeholders apart from fulfilling their
needs with respect to services and goods. CSR activities lay positive impact on growth of
organization, as it assists them to enhance their sales and preserve goodwill in society. This will
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aid them to formulate loyalty and trust among people with respect to ethics of organization. They
start believing that services and products which are being offered to them are of high quality and
are of desired standards.
CONCLUSION
As per the above mentioned report, it has been concluded that literature review is a
formative discussion which is done in relation to a particular problem or an issue. It can be done
by taking help of surveys, articles, published books etc. It will benefit researcher to gain more
knowledge on a topic and acquire more information and data for a related topic. In addition to
this, report covers concept literature review on the topic of Corporate Social Responsibility
which is done by a company in order to meet obligations of company stakeholders, employees,
customers, shareholders and communities. Therefore, it is essential for a company to abide all
CSR activities in order to satisfy every related individuals including community in an effective
way.
REFERENCES
Books and Journals
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Bell, E., Bryman, A. and Harley, B., 2018. Business research methods. Oxford university press.
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performance: a Taiwanese industry context. Journal of Cleaner Production.64. pp.81-
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Jussila, J. J., Kärkkäinen, H. and Aramo-Immonen, H., 2014. Social media utilization in
business-to-business relationships of technology industry firms. Computers in Human
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Wirtz, B.W. and et.al., 2016. Business models: Origin, development and future research
perspectives. Long range planning.49(1). pp.36-54.
Popovič, A., and et.al., 2014. How information-sharing values influence the use of information
systems: An investigation in the business intelligence systems context. The Journal of
Strategic Information Systems.23(4). pp.270-283.
Kozubíková, L., and et.al.,2015. Personal characteristics of entrepreneurs in the context of
perception and management of business risk in the SME segment. Economics and
Sociology.
Bargiela-Chiappini, F. and Nickerson, C. R., 2014.Writing business: Genres, media and
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Stieninger, M. and Nedbal, D., 2014. Characteristics of cloud computing in the business context:
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Askariazad, M. H. and Babakhani, N., 2015. An application of European Customer Satisfaction
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