Individual Report: CSR, Literature Review, and Business Impact

This individual report delves into the concept of Corporate Social Responsibility (CSR) and its significance in the business world. The report begins by defining CSR and its importance in managing economic, social, and environmental impacts, emphasizing its role in stakeholder engagement and societal betterment. It then provides a detailed definition of a literature review, highlighting its function in analyzing diverse viewpoints and identifying knowledge gaps. The main body of the report includes a literature review on CSR, discussing its impact on organizational image, employee engagement, and financial profitability. The report examines how CSR activities can enhance public image, attract talent, and foster positive relationships with stakeholders, referencing various studies and examples. It also explores the ways in which companies can address social and environmental issues through CSR, underscoring the importance of ethical business practices, sustainable development, and the integration of CSR into core business strategies. The report concludes by summarizing the benefits of CSR, emphasizing its role in promoting long-term sustainability, and the positive impact on both internal and external environments.

INDIVIDUAL REPORT
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Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Define literature review and what does it helps to achieve....................................................1
Literature review on corporate social responsibility..............................................................2
CONCLUSION................................................................................................................................3
REFRENCES...................................................................................................................................5

INTRODUCTION
Corporate social responsibility refer to the commitment of company in order to mange
the economical, social as well as environmental effects to fulfil the expectations of public or
society. It therefore includes the working of every part of business whether its is related to
operations or health and safety. CSR leaves a positive impact for the betterment of society by
integrating with the external environment and interacting with the external shareholders of the
company. This report cover topics such as define literature review and what does it helps to
achieve. Lastly, it carries literature review on corporate social responsibility (Hopkins, 2012).
MAIN BODY
Define literature review and what does it helps to achieve
Literature review refer to the explanation on specific topic in detail that carries the
viewpoint or opinion of various author that may differ from one to another. Thus, it gives in-
depth analyses of the certain topic to gain wide knowledge. It simply includes the comprehensive
study that is available to reader through various source such as published research papers, books,
online source, articles and so on. Moreover, it include demonstration of established knowledge of
author that has been developed on certain topic. This helps in building the relation among
various contributors that helps in identifying the gap and answering various questions by
resolving the contradiction (Crane, Matten and Spence, 2019).
As literature review includes overview or discussion made by various authors. So it helps
to reader to achieve their objective in following ways:
 It helps a reader to make them familiarise with the topic by providing them various
sources of literature that finally helps in better understanding of topic.
 Along with that it helps to achieve the summary of the particular topic that is based on
theories, facts as well as past research which is conducted on same field.
 It include published information of various renowned authors that is used for profession,
business as well as academic purpose. Thus. It help lots of reader of different field to
achieve their objective.
 One of the significant roles of literature review is that it provide the solution to the
various reader. For instance, if an organisation wants to attract as well as retail its talent
for build a sound brand image in the society. Then literature review can help them in
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understand the application of corporate social responsibility within the workplace and
various ways it help business to build its image by strengthening the relationship between
various shareholders of the company (De Grosbois, 2012).
 Moreover, it provide additional data to the individual which is based on old interpretation
which helps to gain deeper understanding as well as reduces the chances of duplicate.
 Literature review also helps the workforce of workplace by helping them to identity gaps,
controlling the chances of variations. Additionally, it help in identifying the better as well
as creative ways of performing the work to provide efficient and quick customer services.
Thus, literature review finally helps an individual or various readers to gain a fresh knowledge
that has been derived either from existing problem or future opportunity thus it act as a solution
for both of them (Hilson, 2012).
Literature review on corporate social responsibility
Corporate social responsibility is an integral part of the organisation that works for the
betterment of society by achieving long term sustainable development. This helps an
organisation to enhance its goodwill within public by strengthening the relationship with various
external stakeholder such as customer, investor, government, public and so on. In context to
Marks and Spenser have formed strategic alliance with various charitable organisation like it
offer surplus food to needy people through fare share company. Therefore, such actions helps in
building strong image of organisation as even the shareholders of company want that they should
engage itself in some sort of CSR activities.
According to Hannes Koppel and Tobias Regner (2013), Corporate social responsibility
must be adopted by the organisation as it is the key source to encourage the existing employees
of the organisation. This will help them to remain focused and attentive to fulfil the objective of
organisational and even they want to achieve their target within stipulated period of time.
Moreover, as it helps in build good brand image due to which it attract pool of fresh talents for
the company. This works in favour of company as the company gets good manpower to run its
business operations similarly it decrease the turnover rate. Thus, it causes positive synergy
within the organisation which finally helps to enhance its productivity. Furthermore, organisation
must form alliances with charitable institute so that they can raise fund to fulfil the basic needs of
unprivileged section of the society. Along with that company should perform its operations in
such a manner it does not does not causes trouble for external environment.
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According to Ellie Collier (2018), Company implement CSR activities in order to deal
with social and environmental issues. Adoption of such activities benefits the organisation in
following ways:
Enhances the public image: CSR activity provide various potential advantage to the
company by building positive reputation in front of society that finally leads in maintaining
customer loyalty by increasing the sales of company. Additionally, making favourable laws to
promote charity work finally generate brand awareness as well as recognition.
Increase engagement of employees: If employees are aware about CSR strategies their
organisation are implementing then they will remain satisfied and enjoy working with the
company that has good public image. Furthermore, this will lead to synergy within the team that
will finally increase the productivity of company. For instance, Coco Cola has provide
employment to more than five million women to enhance the global commitment.
Along with that there are several other benefit associated with CSR activity like it is cost
saving technique as well as company can stand out from its rivalries and so on. Therefore, based
on global study conduced on CSR it has been interpreted that more that 90% of consumer prefer
those companies which are catering the environmental as well as social issues.
According to Chris B. Murphy (2018), corporate social responsibility plays a significant
role for addressing the concerns related to helping environment, empowering the role of women
and working against poverty. Additionally, these social responsibility are either related to local,
national as well as global concerns. Thus, there are various reasons for implementing social
responsibility at work place like it help in building the brand image of company by creating
positive image and developing financial profitability for company. Moreover, it helps in the
engagement of employees by developing positive relationship between employee and employer
that helps to increase sales and raise the profitability for company. Furthermore, implementation
of such strategy helps in boosting the morale that enhances the productivity of workforce by
maintaining the relationship between customers and employee. Thus, if the company invest in
social responsibility then it helps the company to build sound image against its competitors. For
instance, Tesla offerings include electronic cars which save the fuel and act as a environmental
friendly product.
According to Sammi Carrmela (2018), making strategy based on corporate social
responsibility not only help internal environment but external environment as well to conduct
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smooth functioning of business by achieving long term sustainable development. There are
various ways to implement to work on environmental or social concerns like company can raise
fund for non charitable organisation, makes optimum utilisation of natural resources. Along with
that they can take precaution for the welfare of its surrounding. Moreover, if organisation makes
significant efforts to distribute a part of their profit to donate to unprivileged section of society.
Then this will enhance the image of public and encourage its employee to remain motivating as
well as encourage in order to achieve organisational objective optimumly.
According to Jim Cathcart (2018), Every Business has a reason for existing, but its
never money.” gone are those days where the objective of business was sales maximisation via
any means so that more and more profit can be attained in a short run. Business want to operate
for a long run now and they know how important it is to understand what society actually wants
and then serving accordingly. it is said that earning money is not the main reason behind starting
a new business. If a firm are serving in a society they need to fulfill their social responsibility
too. Nowadays CSR has become a trend for companies as it is a duty of a company to give
something back to the society in which they are operating. A company has some duties towards
the public or customer which they need to fullfill. CSR helps a company to enhance its goodwill
and build up trust in the public and make relations with them for a long period. It is common
that business most of the times depends upon the social resources. While providing goods or
services business need to take care of all three: customers, public, employees. So that you can
retain them and you can build relations with them. CSR activities helps in building relations.
CSR activities are trying to attract the customers by showing them how the company is following
all social responsibility and they really care about the society and their welfare is the utmost duty
for them. CSR activities generates information and knowledge that can be helped in developing
underdeveloped villages. The whole vision behind CSR activities are growth and development of
the Places where the company is serving or doing there business. Company can help the country
to develop as a whole and by that increasing the economy of the nation.
According to Joo Soo Lim, Cary A Greenwood (2017), CSR activities should be
promoted or carried forward in such a way that it become an essential part of an organisation as
organisation are getting noticed by its customers and the activities they are doing in the society
they are serving. All the 3 members which are customers, employees, public should be benefited.
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Customer should get trust out of it. Employees should get securities and they should be also
engaged in CSR activities. CSR activities helps a company to get talented employees as it help in
recognise the employees in society and it spread fastly too. A company should also make sure
stakeholders are also getting satisfied. So a company can do an event to attract the interest of
stakeholder. Stakeholders are the parties who are interested in the operation of the company.
CSR communication is also necessary as without communicating you cant spread the
information to another person. CSR and ethics should learn together and give them a tagline of
being ethically strong. The company main focus should be to serve the environment around it.
CSR should be done regularly so that a good picture of company can be maintained. Engagement
of both the parties is very important and another is responsiveness to any complaint. All the
measures should be taken to get the CSR activities done properly. Conducting online survey and
telling how important Csr activities is for an organization. Business goals was achieved by
typing prints ad at that time. CSR activities not only help the economy but also help the business
to connect with the public and knowing what actually is going on in the society.
CONCLUSION
From the above report it has been demonstrated that adoption of corporate social
responsibility within the workplace not only help business to conduct ethical business practices
but to environment and society as well. Like, business can run various programme such as
control the emission of gases such as carbon or related to health and safety of employee as well
as take precautions to eliminate the uses of plastics that can hamper external environment.
Moreover, it is significant for organisation to abide by laws and regulation related to the internal
staff of organisation such as equal opportunity for men as well as female. Therefore, this helps
the organisation to build its positive image within society and conduct all its operations
smoothly.
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REFRENCES
Books & Journal
Hopkins, M., 2012. The planetary bargain: Corporate social responsibility matters. Routledge.
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Hilson, G., 2012. Corporate Social Responsibility in the extractive industries: Experiences from
developing countries. Resources Policy. 37(2). pp.131-137.
De Grosbois, D., 2012. Corporate social responsibility reporting by the global hotel industry:
Commitment, initiatives and performance. International Journal of Hospitality
Management. 31(3). pp.896-905.
Online References
Koppel H. and Regner T., 2013. Corporate Social Responsibility in the work place
[Online]. Available through:<https://link.springer.com/article/10.1007/s10683-013-9372-x>
Collier E., 2018. The Importance of Corporate Social Responsibility for Your Business
[Online]. Available through:<https://www.highspeedtraining.co.uk/hub/importance-of-corporate-
social-responsibility/>
Murphy C., 2018, Why is social responsibility important to a business? [Online]. Available
through:<https://www.investopedia.com/ask/answers/041015/why-social-
responsibility-important-business.asp>
Caramela S., 2018. What is Corporate Social Responsibility? [Online]. Available
through:<https://www.tandfonline.com/doi/full/10.1080/23311975.2016.1212682>
Cathcart J., 2018. Importance of Corporate Social Responsibility in the present [Online].
Available through:<https://www.transparenthands.org/importance-of-corporate-
social-responsibility-csr-in-the-present/>
Lim J. and Greenwood C., 2017 Communicating corporate social responsibility: Stakeholder
responsiveness and engagement strategy to achievev CSR goals [Online].Available
through:<https://scholar.google.co.in/scholar?
as_ylo=2015&q=csr+activities&hl=en&as_sdt=0,5#d=gs_qabs&u=%23p
%3DG2Bdxl8vpu4J>
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