Corporate Social Responsibility is a term that is being coined more often in the world of international business today. There are have been raising concerns over the ways in which corporations are
In recent years, an increasing number of companies worldwide established and integrated the CSR policy. The number of organizations reporting their financial, social and environmental achievements is increasing as members of the public demand companies to disclose how they conduct businesses in socially and environmentally responsible ways. There is no one definition of what it takes to be a responsible corporate (Blyth, 2005). Each company responds in its own unique way, depending upon its core competencies and stakeholders’ interests. Through …show more content…
CSR AND HUMAN RESOURCES
According to Aguiliera et al. (2007), it is stated that firms that - 17 - implement CSR initiatives will tend to a positive relationship with their employees, and follow they are more probably to acquire employees’ commitment than companies that do not take care about CSR activities. CSR leads to accolades, such as ‘‘employer of choice’’, and thus attract more and better qualified applicants. Furthermore, CSR leads to greater productivity and organisational commitment. Companies which have successfully implemented CSR initiatives in the HR management show provable improvement in relationships between employees and general atmosphere.
C. CSR AND CORPORATE REPUTATION
Rettab et al. (2008) identify two pre-conditions for CSR to have an impact on reputation. Firstly, it is ability to communicate the strategy to key stakeholders and media. Secondly, the media have to give enterprises engaged in CSR initiatives the required space to help them generate public …show more content…
CSR AND FINANCIAL PERFORMANCE
Beurden and Gossling (2008) present research focuses on the relationship between corporate social performance and corporate financial performance based on the metaanalysis of the data consists of literature. From the included studies 68% found a significant positive relationship, 26% of studies reported no significant relationship and 6% found significant negative relationship. The results reveal that there is indeed clear empirical evidence for a positive correlation between corporate social and financial performance. today 's companies cannot exist without meeting various needs of society. Increasingly society 's needs have exceeded the basic responsibility of company to produce goods and services for the improvement of the living conditions of the society, and therefore various CSR activities have become a key factor of business. There have been much research on CSR as society 's needs and expectation toward companies have changed but there has been much limited research on what kind of CSR activities consumers value most and are interested in. As already discussed above, it is important for a company to offer support to employees, protect environment and support community but it is more important for the company
In recent years, an increasing number of companies worldwide established and integrated the CSR policy. The number of organizations reporting their financial, social and environmental achievements is increasing as members of the public demand companies to disclose how they conduct businesses in socially and environmentally responsible ways. There is no one definition of what it takes to be a responsible corporate (Blyth, 2005). Each company responds in its own unique way, depending upon its core competencies and stakeholders’ interests. Through …show more content…
CSR AND HUMAN RESOURCES
According to Aguiliera et al. (2007), it is stated that firms that - 17 - implement CSR initiatives will tend to a positive relationship with their employees, and follow they are more probably to acquire employees’ commitment than companies that do not take care about CSR activities. CSR leads to accolades, such as ‘‘employer of choice’’, and thus attract more and better qualified applicants. Furthermore, CSR leads to greater productivity and organisational commitment. Companies which have successfully implemented CSR initiatives in the HR management show provable improvement in relationships between employees and general atmosphere.
C. CSR AND CORPORATE REPUTATION
Rettab et al. (2008) identify two pre-conditions for CSR to have an impact on reputation. Firstly, it is ability to communicate the strategy to key stakeholders and media. Secondly, the media have to give enterprises engaged in CSR initiatives the required space to help them generate public …show more content…
CSR AND FINANCIAL PERFORMANCE
Beurden and Gossling (2008) present research focuses on the relationship between corporate social performance and corporate financial performance based on the metaanalysis of the data consists of literature. From the included studies 68% found a significant positive relationship, 26% of studies reported no significant relationship and 6% found significant negative relationship. The results reveal that there is indeed clear empirical evidence for a positive correlation between corporate social and financial performance. today 's companies cannot exist without meeting various needs of society. Increasingly society 's needs have exceeded the basic responsibility of company to produce goods and services for the improvement of the living conditions of the society, and therefore various CSR activities have become a key factor of business. There have been much research on CSR as society 's needs and expectation toward companies have changed but there has been much limited research on what kind of CSR activities consumers value most and are interested in. As already discussed above, it is important for a company to offer support to employees, protect environment and support community but it is more important for the company