Corporate Social Responsibility: Trends, Strategies, and Impact Report

This report provides a comprehensive overview of Corporate Social Responsibility (CSR). It begins by defining CSR and exploring different models, including economic, legal, ethical, and philanthropic responsibilities. The report then delves into the core principles of CSR, such as sustainability, accountability, and transparency. The role of media in CSR is examined, highlighting its importance in creating awareness and expanding the reach of CSR activities. Employee involvement in CSR is discussed, emphasizing its benefits in terms of social recognition, motivation, and positive attitudes. The report also addresses modern trends in CSR, including its impact on brand reputation and differentiation. Government intervention and its significance in CSR are analyzed, along with the interplay between CSR and employee relations. The report concludes by discussing how CSR helps in brand reputation and how it impacts consumer behavior. The assignment also included details on the MNG81001 course, assessment guidelines, and the importance of research and referencing.

Corporate Social
Responsibility
Name of the Student
Name of the University
Author note

Models of CSR
 Economic Responsibility
 Legal Responsibility
 Ethical Responsibility
 Philanthropic Responsibility

Principles of CSR
 Sustainability, its an approach through which the companies look at
its sustainability because it provides an ethical authority to stay in
the market and to b the first preference for the customers (Liang and
Renneboog 2017).
 Accountability, the activities under CSR makes a company
accountable for its actions and decisions.
 Transparency, about the company vision and mission statements. It
needs to be transparent for values, culture and principles of the
company if it does the CSR activities.

Media in CSR
 It is important approach in CSR activities.
 Internet and media makes the scope wider for the CSR activities.
 Companies can create CSR portals on internet.
 Registration on CSR portals by the employees and the public
community (Chaudhri 2016).

Continued…
 Media helps in creating awareness on CSR activities.
 It helps in joining people from all diversities.
 CSR activities have become much sound to the companies due to
proper awareness of its events.
 Now the number of companies have increased in participating for
such initiating activities.
 It do not keep these events limited to the domestic market but also
gets viewed by people globally.

Employee involvement in CSR
 It provides social recognition
 It stimulates motivation
 It is an interactive and engaging activity
 It creates positive attitude towards society (Kolk 2016)
 It increase accountability and responsibility towards society.
 It develops and strengthens the personal and others character.

Modern trends
 It serves as the goodwill of the company (Liang and Renneboog
2017).
 Initiating CSR has become one of the major goals of companies today.
 It serves as the foundations of profit.
 The 21st century surge has come into existence clearly after the
actions taken on CSR.
 The CSR interacts both with the public and private interests.

Government intervention
 CSR needs a government intervention.
 It is run by the government rules and regulations.
 The CSR serves the most responsible welfare activities to support the
community.
 Government funding is the must to carry out any CSR activity.
 Company and the Government together takes pledge to do good for
the society and that is CSR.

Creates differentiation
 CSR creates brand differentiation at its peak.
 Companies involving in CSR are invariably different than its
competitors who are engaged in such activities.
 CSR approach creates brand identification.
 Employee retention rate increases in companies that has CSR
approach.

CSR and Employees
 Companies which are into CSR tends to get the market’s half of the
talent.
 Employees feel proud to be applied for such companies.
 New initiatives and motivation becomes an integral part.
 Innovation becomes a recurring routine among the employees (Liang
and Renneboog 2017).

Reputation through CSR
 Planning of the reputational risk
 Standardizing process and policy
 Consumer Behaviour
 Planning suitable actions
 Expectations of stakeholder (Kolk 2016)
 Focusing on goodwill and communication
 Being Contingent and responsive