The Necessity Of Corporate Social Responsibility For Organizational Growth

Project and Seminar Material for Business Administration and Management BAM

The Necessity Of Corporate Social Responsibility For Organizational Growth


Chapter One


Introduction

1.1 Background Study

The broadest definition of corporate social responsibility is concerned with what is – or should be – the relationship between global corporations, governments of countries and individual citizens.

More locally the definition is concerned with the relationship between a corporation and the local society in which it resides or operates. Another definition is concerned with the relationship between a corporation and its stakeholders.

The issue of corporate social responsibility (CSR) has been debated since the 1950s. Latest analyses by Secchi (2007) and Lee (2008) reported that the definition of CSR has been changing in meaning and practice. The classical view of CSR was narrowly limited to philanthropy and then shifted to the emphasis on business-society relations particularly referring to the contribution that a corporation or firm provided for solving social problems. In the early twentieth century, social performance was tied up with market performance. The pioneer of this view, Oliver Sheldon (1923, cited in Bichta, 2003), however, encouraged management to take the initiative in raising both ethical standards and justice in society through the ethic of economizing, i.e. economize the use of resources under the name of efficient resource mobilization and usage. By doing so, business creates wealth in society and provides better standards of living.

The present-day CSR (also called corporate responsibility, corporate citizenship, responsible business and corporate social opportunity) is a concept whereby business organizations consider the interest of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders as well as their environment. This obligation shows that the organizations have to comply with legislation and voluntarily take initiatives to improve the well-being of their employees and their families as well as for the local community and society at large.

CSR simply refers to strategies corporations or firms conduct their business in a way that is ethical and society friendly. CSR can involve a range of activities such as working in partnership with local communities, socially sensitive investment, developing relationships with employees, customers and their families, and involving in activities for environmental conservation and sustainability.


1.2 Statement Of The Problem

The growth of an organization is determined by the collective imput of the customers, employee, stakeholders and the environment. It has been observed most organizations are failing in their corporate social responsibility.

Most organization releases exhaust gas from manufacturing process in to the environment therby putting the people of the community at risk. It is however the responsibility of the organization to take the safety of the host community at high esteem. One an organization’s social responsibilities are community development, the organization is expected to give back to the host community.

The productivity of any organization is determined by the input of the employees. If the employees are treated unfairly, this will affect the productivity of the organization. The welfare of employees is one of the social responsibilities of organization. The welfare of employees should be paramount of the management of organizations but most organization treats their employees unfairly.

The level of sales made by an organization is dependent on the patronage of customers. Customers must be addressed properly and not harshly. It is the social responsibility of an organization to reverence its customers. This study is carried out to examine the necessity of corporate social responsibility for organizational growth.


1.3 Objectives Of The Study

The general objective for this study is to examine the necessity of corporate social responsibility for organizational growth.

The specific objectives are:

  1. To ascertain if organizations carry out their corporate social responsibilities.
  2. To find out if poor business behavior towards customers have effect on organizational growth.
  3. To examine if treating employees unfairly influences organizational growth.
  4. To know the roles of corporate social responsibility on community development.
  5. To ascertain the relationship between corporate social responsibility and the profitability of an organization.

1.4 Research Questions

The relevant research questions related to this study are:

  1. Do organizations carry out their corporate social responsibilities?
  2. Does poor business behavior towards customers have effect on organizational growth?
  3. Does treating employees unfairly influences organizational growth
  4. What are the roles of corporate social responsibility on community development.
  5. What is the relationship between corporate social responsibility and the profitability of an organization?

1.5 Significance Of The Study

The findings from this study are relevant to the management of organizations. The growth of an organization is influence by the ability of an organization to strictly carry out its corperate social responsibility.

The finding from this research can also be used as a reference material for other researchers who will likely carry out a study on a related topic


1.6 Scope Of The Study

The scope of this study restricted to the necessity of corporate social responsibility for organizational growth.


1.7 Limitation Of The Study

Some of the major constraints the researchers encountered in putting up this research include lack of time, lack of willingness to give information by respondent and also limited resources


1.8 Definition Of Terms

Corporate social responsibility (CSR):

Is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders

Organizational Growth:

A process through which the structure of a multigent system organization increases the number of its roles and links.

Stakeholder:

Is a person who has an interest in or investment in something and who is impacted by and cares about how it turns out.

Community development:

Is a process where community members come together to take collective action and generate solutions to common problems


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The Necessity Of Corporate Social Responsibility For Organizational Growth


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Frequently Asked Questions


How important are business ethics and social responsibility for organizational growth?

This study showed that many of the MBA students and managers perceive business ethics and social responsibility as important for organizational growth and success. Specifically, they consider business ethics to lead to positive employee, customers and as well community relations.

What is Corporate Social Responsibility and why is it important?

Every business has to depend on society’s resources and deal within the communities for its growth. CSR is a concept that upholds and look after the interests of both businesses and societies. CSR programs address the three major corporate wings: customers, society, and employees.

Are companies adopting CSR policies taking the path-breaking steps?

According to the Professor of Business Rosabeth Moss Kanter, Companies that are adopting the CSR policies today are actually taking the path-breaking steps which would definitely benefit them in the future. Kanter wrote in her review: “Companies that are breaking the mold are moving beyond corporate social responsibility to social innovation.

What is CSR in business?

Conclusion CSR is the concept of work that goes beyond the typical corporation task, job, and profit perspective and provides an appropriate channel through which both the owners and their employees can seek and gain meaningfulness through work. Corporate social responsibility is actually an unsentimental but powerful business decision.

What is the importance of Business Ethics and corporate social responsibility?

The paper addresses the concepts of business ethics and corporate social responsibility. From the perspectives of MBA students and managers, it came out that business ethics and social responsibility are very important for organizational growth and success.

Why promote social responsibility in the workplace?

Promoting a strong code of ethics that includes social responsibility can help companies attract and retain more candidates. Getting an advantage over similar businesses: Companies that promote social responsibility often acquire more customers than businesses in the same industry.

How does ethical code of conduct influence business organization growth?

The growth of business organization relies on its sound ethical code of conduct set to guide both management and employees in its daily activities (Steve, Steensma, Harrison & Cochran, 2005).

Do business ethics explain Organizational Sustainability?

To assert that business ethics explain organizational sustainability. This is the crux of the study. 5. RECOMMENDATIONS i. Matters leading to environmental degradation must be min imized to enhance its sustainability

What are the business benefits of Corporate Social Responsibility (CSR)?

The business benefits of corporate social responsibility include the following: 1. Stronger brand image, recognition, and reputation CSR adds value to firms by establishing and maintaining a good corporate reputation and/or brand equity

Are CSR programs aligned with a company’s business model?

But to accomplish this, CSR programs first need to be strategically aligned with a company’s business model. If corporate citizenship efforts do not demonstrate value to customers, employees, and shareholders, as well as the community, they’re less likely to be successful and serve a long term purpose.

Is CSR the answer to the world’s problems?

Corporate social responsibility ( CSR) is not going to solve the world’s problems. That said, CSR is a way for companies to benefit themselves while also benefiting society. When I define CSR to the uninitiated, I typically get three reactions.

How do you build a CSR strategy?

Build your strategy around your company’s core competencies. There are many worthy causes companies can choose to support, but without focus and alignment around what your business already does well, your CSR efforts may be less effective.

How does CSR benefits business?

The ‘Great Resignation’ provides the necessary incentive for engaging in such a scrutiny while assuring and ensuring a responsible approach to digital transformation that creates an optimum balance between the coexistence of humans with the complementing technological solutions. 

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