Started as a feel good exercise, CSR is now being taunted as the next wave of innovative approach to conducting a business. There seems to be great potential in implementing CSR and firms have started to realize its potential in being able to reap benefits that they never thought of but may be hoped to have. Firms that started implementing CSR initiatives early on are already reaping additional benefits in terms of reduced costs, increased operational efficiencies and higher brand loyalty (Griffiths, 2009). CSR is also seen as a means to engage the various stakeholders of a business while improving legitimacy of the business among them (Maignan and Ralstan, 2012). But not all businesses have adopted CSR into their core business practices and not all can afford to adopt this concept. Also, businesses that have already adopted this practice, have adopted to varying levels. Success of these initiatives also varies and depends on an array of factors that will be studied. Studying the history of CSR as a practice or concept also helps understand the perspectives that various businesses have taken in implementing CSR. Policy matters, practices, tools, innovative approaches and measurement of CSR will be understood to relate the level of progress of the concept among UK firms. Journal articles, news articles, websites of companies implementing CSR, official websites of UK government and case studies reports of businesses implementing CSR will be studied to understand what progress is made related to CSR initiatives and how the performance of businesses is measured based on their CSR initiatives. Further, the paper also attempts to understand the performance metrics used by the different businesses in implementing and measuring their initiatives. Definitions of CSR Different definitions of CSR exist in relation to the firms implementing it as each may have a slightly different approach to the concept. Some of the definitions are as below and are applied in context: Woods (1991) defined CSR as "configuration of the principles of social responsibility, processes of social responsiveness, and policies, programs, and observable outcomes as they relate to the firm's societal relationships" (Maignan and Ralstan, 2012). EU’s definition of CSR is as follows: “CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis” (Catalogue of CSR activities: A broad overview, 2005). The UK government summarizes the definition of CSR as: “a business contribution to the country’s sustainable development goals. It is about how businesses take into account social, environmental and economic impacts in the way they operate for maximizing benefits and minimizing downsides. It is the voluntary actions that businesses can take over and above the minimum legal requirements to address both their own competitive interests and the interests of the society at large” (Defining CSR, 2012). There are no set definitions for CSR. A more general direction for defining CSR is laid by the
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CSR Performance Progress in UK firms Leena Abstract Corporate social responsibility (CSR) initiatives by businesses in UK are studied to assess the level of success and future direction. It is found that while businesses engage in a range of activities with different focuses, future of CSR depends on the changing nature of factors influencing social, environmental, economic, technological, political factors and impact of BRIC (Brazil, Russia, India and China) countries on global environment…
1 Employee job satisfaction 16 2.3.2 Customer satisfaction 21 2.4 Theoretical framework 22 2.5 Chapter summary 24 The chapter presented a review of academic literature on three principal aspects – corporate social responsibility, employee job satisfaction, and customer satisfaction.
Corporations are now viewed as individual citizens with legal responsibilities and rights, implying that they are expected to respond to the demands of the various stakeholders and to the internal and external environment. This study was based on ASDA, the biggest retailer in the UK.
1-3). It is also about contextual sensitiveness on performance management and environmental concern, including health. It has so much to do about how the company declare their intentions and enforce concrete actions effectively and transparently to attain immeasurable impact (Burja & Mihalache, 2010, pp.
3). This research study hypothesises that the manner in which organizations pursue their goals is altered by corporate social responsibility. Shareholder primacy norms are no longer the sole focus of organizations as stakeholders which are comprised of the broader community demand accountability from organizations (Buchholz and Rosenthal 2002, p.
As shown, CEOs that doubled as chair of board per year was 0.503 with a standard deviation of 0.500. This suggests a low CEO duality per year in the sampled firms. Board sizes averaged 7.171 with a standard deviation of 1.89. The minimum number of board members per year was 3 and the maximum was 13.
The study aims at creating an understanding of CSR policies and performances across various institutions in the UK. The understanding of such policies and performances was in relation to the effectiveness of the same on financial performance, impact of strategic analysis, and the challenges involved in successful implementation.
TWO: LITERATURE REVIEW 19 2.0Literature Review 19 2.1Understanding CSR on the perspective of Previous Studies 20 2.2Europe’s Approach to CSR 22 2.3Theories in understanding CSR 23 2.3.1Stakeholder Theory 23 2.3.2Legitimacy Theory 24 2.3.3Social Contracts Theory 26 2.4Driving forces or Factors associated with CSR Practices 27 2.5Strategic Planning and Analysis and CSR Success 29 2.6CSR Policies and limitations to Effective Implementation 31 2.7Conclusions 32 CHAPTER THREE: RESEARCH METHODS 33 3.0Research Methods Overview 33 3.1Research Philosophy 34 3.2Research Strategy and Tools 35 3.3Research Plan 36 3.4Population and Sample 37 3.4.1Population 37 3.4.2Sample 37 3.4.3Sampling Method 38 3.5D
This will also provide results of research on the practices of CSR of the different organisations that aimed to involve Business Social Responsibility (BSR) practices with those of the oil and gas industry. Above all, this will provide a connection of CSR and environmental protection and sustainability.
This study takes a similar shape with the objective of using case study research design to critically study how the practice of corporate governance in five major UK banks have transformed the banks in terms of profitability and growth. As part of the case study, the annual reports of the banks were critically studied, as well as other related literature.
The Researcher has been assigned to study and make a report on the compliance of the Social and Environmental obligations of the Company, Royal Dutch Shell Plc (Shell), as there are vehement criticisms from all the quarters that the Company has miserably failed in meeting the Social and Environmental objectives not only in UK.
15 pages (3750 words)Dissertation
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