Introduction
The modern-day economic activities are keen on Corporate Social Responsibility (CSR) to the extent that it is almost becoming an obligation that every business organization needs to involve in. Grayson and Hodges (2017) define Corporate Social Responsibility as the investments that business organizations spend on with no expectation of profits but rather to give back to the community with which they operate. Other management experts understand this concept as the inclusion of social concerns as well as environmental concerns in the business operations. CSR is steadily becoming the topic of discussion among corporate experts as well as business moguls with many people supporting it and a good number criticizing it with equal energy.
The United Nations and other international institutions of the same repute have made attempts to preach the CSR gospel, have business organizations include Corporate Social Responsibility as part of their plans and in their budgets. Further to that, many corporate organizations in developed economies seem to be convinced that CSR is the way to go a good number of managers in similar economies include CSR in their business operations every year and make attempts to have their competitors and peers emulate the same. Nevertheless, there are other economies where CSR is still little known. CSR in some countries faces numerous challenges ranging from lack of support to cultural activities that do not favor it. It is important to note that while participating in CSR activities, companies must consider business ethics as well as the legal guidelines of their country jurisdictions.
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Statement of the Problem
Modern day business environments are very competitive, and most organizations strive to get the best out of their strategies and amass the highest profits in their industries. On that note, there are business organizations who have decided to focus on creating a good relationship with their customers and clients. To effectively do this, such business organizations have made it a habit to participate in CSR and include it in their yearly budgets. Such companies are convinced that the primary strategy to win the heart and affection of the community is to include their problems in the company plans and device solutions for them.
Nevertheless, some do not buy the idea of Corporate Social Responsibility and do not, therefore, include it in their companies. Critics of Corporate Social Responsibility hold the view that CSR projects water down the profits of the organization and do not add any value to the businesses (Crane, Matten & Spence 2019). Apart from that, other economies like in developing countries have people who do not understand the CSR concept. Members of the community play a vital role in pushing for companies to include Corporate Social Responsibility in their plans. However, in a situation where the community does not understand the CSR concept, a gap exists, and most companies in such companies do not feel the pressure to participate in CSR. In addition to that, other human resource markets are less competitive to the extent that employees can play a role in pushing for CSR.
Purpose of the Study
This study will seek to determine the level of understanding of CSR among corporate managers, members of the community, and other stakeholders. Additionally, the study is set to find out the CSR activities that corporate organizations involve in and their respective impacts on profits, customer feedback, and overall growth of the business. The study will also examine the problems associated with CSR.
Research Questions
What does CSR entail?
How does CSR affect customers’ opinion on a company?
How does CSR affect business profits?
References
Crane, A., Matten, D., & Spence, L. (Eds.). (2019). Corporate social responsibility: Readings and cases in a global context . Routledge.
Grayson, D., & Hodges, A. (2017). Corporate social opportunity!: Seven steps to make corporate social responsibility work for your business . Routledge.
