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Corporate Social Responsibility Adds to Brand Value
Pages 8 (2008 words)
Corporate Social Responsibility adds to brand value 1. Introduction The high increase of competition in all industries worldwide, especially during the last decade, has led to the following result: firms operating in different sectors have been trying to identify strategies that allow them to increase their competitiveness without setting their operations in risk.
The relationship between CSR and brand value can be characterized as quite close. The specific relationship is reviewed in this paper. Particular emphasis is given on the potentials of CSR to add brand value. The literature published in regard to this subject has been reviewed. The studies reviewed indicated that CSR has a key role in adding brand value. However, the above role is not standardized in firms worldwide. Rather, it is depended on the position of each firm in the global market, the organizational structure and the local culture and ethics. Indeed, consumers worldwide are not likely to be equally affected by the performance of an organization in regard to CSR, even if the value of the organization as a business unit is highly influenced by the level at which CSR rules are incorporated in the organization’s strategies. 2. Corporate social responsibility and brand value 2.1 Corporate social responsibility – overview In order to understand the involvement of CSR in adding brand value, it is necessary to describe the context of CSR, as developed in modern organizations. In accordance with Hennigfeld et al. ...
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