Exploring CSR: A Learning Journal on Competitive Advantage - Session 5

This learning journal reflects on Corporate Social Responsibility (CSR) and its role in achieving a competitive advantage in business. The journal explores how companies can differentiate themselves through social responsibility initiatives, referencing the importance of creating purchaser-friendly organizations. It discusses the concept of gaining a competitive edge through efficiency, cost reduction, and product differentiation, highlighting CSR as a means of separating a product by focusing on environmental and societal impact. The journal also emphasizes the increasing attention businesses are paying to CSR and its connection to gaining a competitive advantage, supported by academic research. This resource is available on Desklib, where students can find a wealth of study materials, including past papers and solved assignments.

Running Head: LEARNING JOURNAL SESSION 5
LEARNING JOURNAL SESSION 5
Name
Institutional Affiliation

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LEARNING JOURNAL SESSION 5
Questions for brainstorming
1. What is the topic of this session?
2. What are the key points of CSR?
3. What do I seek to learn from CSR?
4. What all do I need to read up to achieve my goal and learn the role of CSR?
5. How can I use it for myself in the future?
Learnings
Everyone needs an upper hand to make the business evolve. A purchaser-friendly
organisation stands in a better position than various organisations in a similar industry. An
organisation can take the lead in several different ways, but many organisations do so by
correlation or separation.
According to Schulz & Flanigan, (2016), when a company can create items more
efficiently or at fewer cost than its rivals, a relatively favourable position takes place. When
the item of an organisation is considered different or better than the item of a contending
organisation, a favourable difference is made. Consider, for example, non-exclusive
prescription compared with brand name medication. Traditional medicinal products are often
nearly favourable since they are less expensive than brand name medicinal products. In any
case, brand-name medicines usually have a preferred difference of view because many
customers agree that brand-name medicines are of better quality than traditional ones.
One needs to realise that a business needs a superior hand, so choosing to try to separate
the product by rehearsing the CSR. The term "social duty" refers to the activities of an
organisation which control its tasks and assumes responsibility for the effect on conditions
and society of the organisation (Saeidi et al., 2015).

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CSR is a kind of autonomous guideline that goes beyond the standards set by the office
to manage an industry. Despite the fact that no administration guideline requires it, the
organisation chose to make its envelopes out of 100 per cent reused materials. Many are
involved in the social duty of business to help society by reducing the impact of the
organisation (Frynas, 2015). This gives a preferred difference over the opponent.
Organisations working today pay significantly more attention than they did before to
corporate social obligations. The reasonable connection between CSR and the upper hand is
one reason behind this.

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References:
Frynas, J. G., (2015). Strategic CSR, value creation and competitive advantage. The
Routledge companion to non-market strategy, 245-262.
Saeidi, S. P., Sofian, S., Saeidi, P., Saeidi, S. P., & Saaeidi, S. A. (2015). How does corporate
social responsibility contribute to firm financial performance? The mediating role of
competitive advantage, reputation, and customer satisfaction. Journal of business
research, 68(2), 341-350 Retrieved from
https://www.sciencedirect.com/science/article/abs/pii/S0148296314002215
Schulz, S. A., & Flanigan, R. L. (2016). Developing competitive advantage using the triple
bottom line: A conceptual framework. Journal of Business & Industrial Marketing,
31(4), 449-458 Retrieved from https://www.emeraldinsight.com/doi/abs/10.1108/JBIM-
08-2014-0150