Literature Review on CSR and its Impact on Business Development

This report presents a literature review focusing on corporate social responsibility (CSR). It begins by defining CSR and its importance, then assesses the role and achievements of literature reviews in general, highlighting their value in analyzing information, identifying gaps, and providing a foundation for understanding a subject. The main body delves into a literature review on CSR, discussing various perspectives on CSR, including its contributions to sustainable development, stakeholder relations, brand image, and employee engagement. It explores the views of different authors on the benefits of CSR, such as increased customer loyalty, brand recognition, and employee motivation. The report also examines CSR activities, including charitable initiatives, environmental policies, and community development programs. The conclusion summarizes the key findings, emphasizing the significance of CSR for both businesses and society.

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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
1.) Assessment on literature review and analysing what does it achieve....................................3
2. Literature review on corporate social responsibility...............................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Corporate social responsibility is a business model that helps company to contribute
towards sustainable development of the economy, society and their stakeholders. This study
highlights literature review and also analyse what does the literature review achieve.
Furthermore, this study also highlights, literature review on corporate social responsibility. In the
present study, there have been discussion based on requirement of literature review as well as
relevant achievement through such techniques. Along with this, an academic research will be
presented in the research which is effective in determining the impact of corporate social
responsibilities of industries in the environment.
MAIN BODY
1.) Assessment on literature review and analysing what does it achieve.
Literature review is a complete analysis and findings on the particular subject matter, in
accordance with the current knowledge, theoretical and methodological implications and
findings. Literature review is based on secondary sources, i.e., information which has been
collected by the researcher earlier on a particular subject matter (Steigenberger,2017). Secondary
source of data includes books, journals, newspaper, magazines, government census reports,
manuals, database, articles, blogs, etc. from where data can be analysed and interpreted
effectively to compare and contrast on the subject matter to get desired results and outcomes.
The main objective of literature review is that it helps in critically analysing the information by
effectively identifying the gaps in the current area of study by presenting the synthesized
information in an organized manner (Literature Review: Purpose of a Literature Review, 2019).
Literature review helps in effectively identifying the gaps by critically comparing the literature in
the area of study. This area of study review areas of controversy and also analyse pros and cons
of the subject matter in accordance with the viewpoints of different authors to effectively
examine the subject matter.
What does literature review achieve:
 Literature review helps in critically analysing the information gathered from various
sources and also helps in identifying the gaps in the particular subject matter of the study,
by analysing the limitation and formulating areas of controversy effectively and
efficiently.

 Literature review helps in providing foundation on the particular area of topic, for
effective results and outcomes.
 A literature review must provide relevant and credible information on the particular
subject matter which helps in building proper understanding and knowledge on the
particular area of study.
 Literature review provides conceptual and theoretical framework on the particular area of
study, by giving in-depth study on the subject matter.
 The main purpose of literature review is to effectively demonstrate the knowledge of the
author on a particular area of the study.
2. Literature review on corporate social responsibility
As per the views of (Crowther, 2018), corporate social responsibility means the resources
of society which are used by company needs to be return to the society. Its about paying back
society and be responsible towards customers and society. It strengthens relations with customers
and stakeholders at every level. On the contrary (Unit, 2015) stated that, it is efforts made by the
company to contribute towards the society and improve living conditions and quality of life and
move towards sustainable development.
The purpose of CSR is tom encourage business to follow rules and regulations prescribed
by the government in ethical manner so that it can impact the society positively and can raise
standard of living as well ensures growth and development of the society. According to (Saeidi,
2015), focus of CSR is to increase trust of shareholders in the company and increase long term
profits of the company by attracting more shareholders. It increases public image of the company
and increases goodwill of the company which attracts more and more customers.
CSR involves public awareness programs and social campaigns and services which
increases standard of the society. On the contrary (Crowther, 2018) stated that CSR increases
employee engagement as the company who does good for society has good reputation which
attract and motivates the employee to be indulge in work with full efficiency and effectiveness
which eventually increase profits and productivity of the company.
The other benefit of CSR is that it attracts and retain investors as companies who does
csr have enough fund to do that which means they are operating in profit and therefore the
shareholders get attracted to the company and invest in it which increases the capital of the
company. (Crane, 2019) stated that CSR increases brand image and recognition of the company

as when company does something good for the society like giving bonuses to its shareholders,
loyalty of people stays with the company and they praise ethical practices carried out by the
company and brand is recognized. It helps in increasing involvement of customers as well as
while posting the CSR of the company on social media platforms give its full coverage to the
customers and customers follow the brand and operations.
According to (Crane, 2019.), CSR leads to more positive environment for employees in
the organization and encourage their professional and personal growth. The other benefit of CSR
is that it uses less packaging which decrease cost of production. It helps out the company in
standing out from the competition and helps in building relationships with the customers.
As per the view of Crowther and Seifi eds., (2018). Corporate Social Responsibility is
how the company is managed their business processes in order to produce an overall positive
impact upon a society. Further Corporate Social Responsibility is the continuing commitment by
a business that help a business to behave ethically and also contribute to the economic
development. The company can do many things for CSR like providing scholarships to children,
giving bonus shares to stakeholders, social campaigns on child labor and women empowerment
etc. which create customer retention and loyalty among customers. Through CSR programs
business can increase their brand recognition. It is type of a strategy played by company to boost
its sales and to have competitive advantage over other companies. The more the successful the
business is the more it is said to be responsible in setting ethical standards of ethical behavior for
it competitors, industry in which they operate and for its employees and shareholders. As stated
by Galvan and Galvan, (2017), it can be said that, the concept of CSR is basically reflecting
organizational responsibility among the society, economy and environment. There various
activities which were being performed by organizations as per creating a positive scenario.
According to (Crowther, 2018), it is not always about profit sometimes it also focus on
concern about the society which involves donation and assist natural calamities by providing
funds to people etc. Now a days government initiate and made it compulsory for other
organizations to work for the society and a part of percentage is fixed by the government for
CSR. The online business also does CSR by helping the environment in lowering carbon
footprints and ban on plastic items etc. it allows customers to do charity and customers
appreciate this kind of efforts and feel personally connected to the person to whom they gave
charity. It also promotes CSR and various social cause by displaying ads on blog, social media

and websites regarding humanitarian causes and influence customers to do CSR and develop the
society.
As per the views of (Steigenberger, 2017), CSR helps in developing local communities of
the society and helps in their upliftment. It helps in connecting the customers through financial
donations and helps in reducing poverty and enhances social values and ethics.
Saeidi and et.al., (2015) sought to determined that, CSR have been defined differently by
various global institutions which were based on the responsibilities presented by an organization.
As per OECD it involves the ascertainment of effective fit between society and businesses. Thus,
organizations are aimed at presenting, producing and proceeding the products which were being
required by the society as well as create beneficiary wealth to the society. Shaukat, Qiu and
Trojanowski, (2016) stated that, in accordance with the UN management concept where
companies integrate social and environmental concern in their operations for having effective
interactions with the stakeholders. However, in this case it can be said that, company makes
disclosure of the financial performance as well as the activities done by them in the entire
financial year have an impact on the shareholder’s perception. It encourages their investment
decisions towards equity of firm.
Schäfer, (2016) determines that, corporate social responsibility is the business and corporate
approach which contributes towards the sustainable development by delivering the economic,
social and environmental benefit to the stakeholders including customers, clients, society and
investors (Mishra and Modi, 2016). CSR is basically concepts of many definitions and practices
which focusses on contributing towards the society and sustainable development by optimum
utilisation of all the resources and contributing towards the protection and prevention of the
society and the environment,
CSR is also called as corporate citizenship, corporate social opportunity ad responsible
business. This is the basic concept of the business organisation which consider interest of the
society by taking the responsibilities for any impact of their activities on customers, suppliers,
employees, investors and public (Galvan and Galvan, 2017). The business s organisation is
completely focusing towards the optimum utilisation resources in such a way that their activities
they are performing in the organisation is towards the protection of the environment and does not
harm the nature. They continuously monitor and control their activities in order to protect the
nature and environment for pollution ad damage caused because of their activities.

The CSR can hold by the company by organising and attending any activities, events and
programmes of CSR which helps them in motivating for contribution of the organisation towards
the society (Galvan and Galvan, 2017). Through CSR programmes, events, and any voluntary
benefits of the business organisation can benefit the society in many ways or boosting their own
brands also creates the brand loyalty towards the organisation which helps business capturing
larger share of the market and it also leads ion retention of the customers for long which
ultimately helps business also in achieving their organisational goal and objectives.
CSR is as important for the society it is equally important for the company. CSR is need
for the business to be a good corporate citizen. It also involves going beyond to the legal
requirements in protecting and preventing the environment and contributing towards the social
welfare. This is widely accepted as an obligation for their modern business. Through CSR
business organisations can visibly contributes to the society and they do not limit themselves to
using the resources and engaging in activities which only increasing the profits (Mishra and
Modi, 2016). CSR of the companies can be efforts can range from the donations to the non
profit organisations to implement the environmental friendly policies and producing the
environmental safety products service which does not harm the society and environment in
which people lives in.
CSR also profitable for the employees and company itself as by contributing towards the
society companies creating a strong brand imager in the mind of the people who will be only the
ultimate customers of the business which helps them in increasing their profit and increasing
demand and sales which leads in earning profitability, greater market share, a strong brand image
and also helps in retention of the customers for long which benefit the company in their future
growth and development.
There are many activities which can be done under the corporate social responsibility
which may include reducing carbon footprints to mitigate the climatic change, improving labour
policies, and embracing fair trade, Engaging in charitable trust by giving volunteer efforts within
the community and which ultimately helps in preventing the environment from any sever loss
and benefit the company itself and helps in achieving their organisational goal,
CONCLUSION
On the basis of above report on which it can be concluded that, importance of literature
review would bring the effective information regarding the perception, opinion and view point of

authors. However, in accordance with conducting a literature review on corporate social
responsibility on which there had been decision based on implication of CSR techniques under
the corporate culture which would have effective ascertainment of the data base that would be
adequate in mitigating the challenges at the right time.

REFERENCES
Books and journal
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Crowther, D. and Seifi, S. eds., 2018. Redefining Corporate Social Responsibility. Emerald
Group Publishing.
Crowther, D. and Seifi, S. eds., 2018. Redefining Corporate Social Responsibility. Emerald
Group Publishing.
Galvan, J. L. and Galvan, M. C., 2017. Writing literature reviews: A guide for students of the
social and behavioral sciences. Routledge.
Mishra, S. and Modi, S. B., 2016. Corporate social responsibility and shareholder wealth: The
role of marketing capability. Journal of Marketing. 80(1). pp.26-46.
Saeidi, S. P., and et.al., 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). pp.341-350.
Schäfer, H., 2016. 26 Corporate Social Responsibility Rating. A Handbook of Corporate
Governance and Social Responsibility, p.449.
Shaukat, A., Qiu, Y. and Trojanowski, G., 2016. Board attributes, corporate social responsibility
strategy, and corporate environmental and social performance. Journal of Business
Ethics. 135(3). pp.569-585.
Steigenberger, N., 2017. The challenge of integration: A review of the M&A integration
literature. International Journal of Management Reviews. 19(4). pp.408-431. Unit, B.,
2015. Corporate social responsibility.
Online
Literature Review: Purpose of a Literature Review. 2019. [ONLINE]. Available
through:<https://uscupstate.libguides.com/c.php?g=627058&p=4389968>
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