Impact of Corporate Social Responsibility on Business Performance

This report examines the significance of Corporate Social Responsibility (CSR) in modern business practices. It delves into the core components of CSR, including environmental sustainability, employee well-being, and ethical procurement. The report explores the crucial role CSR plays in enhancing a company's public image and brand awareness. It also addresses the challenges faced in implementing CSR initiatives, such as governmental resource constraints and increasing consumer interest in ethical practices. The report concludes by emphasizing the positive impact of CSR on organizational performance and overall business sustainability. The report provides a comprehensive analysis of CSR principles, challenges, and benefits for businesses aiming to integrate ethical and sustainable practices into their operations. The report also includes references to provide more insight into the topic.

Assessment

Content
 Introduction
 Role of Corporate Social Responsibility
 Challenges in front of Corporate Social Responsibility
 Benefits of CSR
 Conclusion

INTRODUCTION
 Corporate social responsibility is very essential for
organizations as well as for employers.
 They all committed to perform ethical or sustainable
business practices which positively impact social,
economic or business environment.

Role of Corporate Social Responsibility
Environment: In environmental aspect, organizations ensure to
reduce direct impact on environment because of their
operational activities in order to achieve their business goals &
objectives. Corporate should manage their waste material
effectively, focus on maximising consumption of natural
resources, effective use of resources etc.

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People: In this form, organizations focus on human resources
their health and well beingness. They encourage the
workplace where they provide equal opportunities to
employees and diversity to all. In addition, also promote five
days learning program to support their employees health and
well-being.

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Procurement: Financial stability and environmental
compliances are the critical factors which evaluated at the
time of doing CSR activities. Organizations needs to
follow government framework to maintain
standardization.

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Community: In order to play positive role in society, CSR
activities helps in promoting employees volunteering,
raise funds to provide people relevant skills which helps
in making individual capable. Actively support the local
business and community where they currently working.

Challenges In Front Of Corporate Social
Responsibility
Shrinking role of government: Due to decrease in
government resources, implementation of CSR activities
face various difficulties.
Increased customer interest: Ethical practices of
organizations will increase the interest of consumers in
the company.

Benefits Of CSR To Achieve
Organizational Goals
Improve public image: CST activities helps in improving
image of company in front of consumers.
Increase brand awareness: When organization done
ethical practices in their business operations than this
news will spread.

Conclusion
From the above discussion it has been concluded that
corporate social responsibility (CSR) practices are very
essential because it helps the organization to enhance
their performance.

References
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social
responsibility: Readings and cases in a global context. Routledge.
Jamali, D. and Karam, C., 2018. Corporate social responsibility in
developing countries as an emerging field of study. International
Journal of Management Reviews, 20(1), pp.32-61.

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