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Responsibility

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This study is important as it will enhance companies to practice CSR to tap the varied potential
benefits. Humanistic culture isconstructive in nature rather to be competitivefostering care of
harmonious and pleasantrelationships. Previously only few companies use to do something for the
betterment of the society. As such, using aggregated weights assigned to K dimensions of social
performance obtained through questionnaire for CSP and using change in Return of Equity, change
in Return on Sales and growth in sales as financial measures on a sample of 496 firms, Bernadette M.
The empirical results showed that the influence of corporate social performance on economic
performance was not a direct effect. Also this paper shows that ITC Ltd showed a significance
relation whereas Nestle Indian Ltd did not show significance relationship. Nevertheless,
beforetesting the hypotheses, tolerance and varianceinflation factor (VIF) values were calculated
toconfirm that results are not accompanied bymulti-collinearity. According to McKiernan andMorris
(1994), single or uni-dimensional measure-ments of formal strategic planning are question-able to
include the whole system and henceforthmay fail to accuratelymeasure the construct. The marketing
approach focuses on the use of the real market values in determining the overall financial
performance of the firm. Observasi, melakukan pengamatan secara langsung di tempat pelaksanaan
tradisi ruwatan bulan purnama, 2). Corporate Social Responsibility In IKEA 735 Words 3 Pages 1.
Its purpose is to understand, document, analyze and review the corporate social responsibility
perceptions of relatively selected companies in India after its legislation. In that case, the CSR
program is a great evaluation to divert the customer from other products as when people will come to
know that this firm is engaged with a continuous social contribution by the means of CSR program.
Second, little is known aboutthe impact of strategic planning on organizationbeyond the financial
performance linkage(Devenish and Fisher, 2000; Verreynne, 2006). It has an organisational pattern
that combines synthesis and summary. Ramanujam V, Venkatraman N. 1987. Planning
andperformance: a new look at an old question. In case of Johnson andJohnson, for example, the
culture of social respon-sibility led the management to recall the productsin order to keep its
customers safe from potentialharm (Sinclair, 1993). According to the act, every business organization
is a responsible player to build an equitable society and for that CSR should be a part of the DNA of
every organization. It may be understood as the trend of social inclusion within the scope of
responsibility of daily business operations, and its effective compliance becomes an important
criterion for assessing the credibility of the company by its suppliers, customers, or employees. This
group of individual argued that the main objective of any company is to mobilize its resources in a
way that maximum profits are reported. This research study has documented that CSR influence
great impact on financial performance of the companies. In years, there has been a range in thought
about to improve the social and organizations’ environmental or sustainability performance. Hence
the present study is selected only four sectors in CSE namely manufacturing, banking finance and
insurance, plantation and beverage food and tobacco. To connect with customers CSR is most
effective It is most important to build relations or connection with the customer as it is much
required for the business to increase the loyal customer. This study will provide literature evidences
as record about CSR and CFP to empirical as well as theoretical prospective researcher and
limitations are discussed also. The third factor named customer orientation factor accounted for two
while the fourth factor named balancing factor accounted for the remaining two original factors. The
paper defined what CSR is, identified areas where CSR have been working on in Nigeria, and
looked at other literatures around the world that have identified ways on improving the environment
through CSR. On the other hand, CSR also became legitimate spending stipulated in the Indian
companies act, 2013. Governments are also stakeholdersas they provide infrastructures and their
lawsmustbe obeyed. In the framework of sustainability, Alcoa is considered one of the top three
companies in the world in terms of commitment to sustainable development and has made use of an
environmental strategy associated with a truthful social responsibility in order to gain competitive
advantage and success in the marketplace.
The reliability coefficient of the instrument was 0.82, obtained with Pearson product moment
correlation formula. Covin JG, Miles MP. 2007. Strategic use of corporateventuring. TASK 1)
Meaning of Literature Review and how it can be achieve The word literature comes from learning,
writing and review means analysing the facts thus putting together, LR means reviewing the learning
in written format. The study concluded that even though not all companies were practicing CSR, all
the selected companies were aware of its importance both to the community and to the company.
The disclosure in this case refers to the reporting on what activity the company was engaged in, the
strategies that were used in the implementation of the strategy as well as the amount of resources
that the company spent on the activity. The relationship is tested by using empirical methods.
Literature review of authors helps the students to analyse certain facts and also changes the criteria
of dealing crucial matters in society ( Literature Review, 2019). There are different type of literature
reviews described below- Argumentative review- This describes literature selected for supporting an
argument or philosophical problem discussed in the literature. Primary data was collected through
questionnaire and it was constructed to reflect key motives of CSR suggested in the literature and to
examine whether it has been changed according to the business and personal profile of the manager.
Humanistic culture isconstructive in nature rather to be competitivefostering care of harmonious and
pleasantrelationships. There is positive impact of CSR on the financial performance of company. The
Accounting Review, V. 80, pp.1125-1162, (2005). The third factor named customer orientation factor
accounted for two while the fourth factor named balancing factor accounted for the remaining two
original factors. Moreover, data collected can also guide corporations by providing them with an
understanding of sustainable development and the resources they can make use of to establish a
sustainable future for society and the environment. Using a difference-in-difference approach, we
found that before the legitimation of CSR the performance found to be better than post CSR
legislation. Therefore, the instruments of corporative citizenship turned also to the preservation of the
environment as a strategic element for enterprises in the whole world. VIF values ranged from 1.139
to 1.506.On the other hand, tolerance values ranged from0.668 to 0.878. Given that tolerance values
nearby 0 and VIF values greater than 10 are supposed tobe problematic (Hair-Jr et al., 1995), the
results sug-gest that multicollinearity is not of concern in thissample. Majority of the respondents
prioritized accountability, transparency and respect for stakeholder interests. As a result, this
competition also brought a powerful driver for both environmental conflicts and damage to our
fragile, life-supporting environment. Projects such as clean water supply, maintenance of
infrastructure and sanitation were least implemented under CSR due to cost implication attached to
the process of supplying and purifying water. Waddock SA, Bodwell C,Graves SB. 2002.
Responsibility:the new business imperative. Cooke RA, Rousseau DM. 1988. Behavioral norms
andexpectations: a quantitative approach to the assessmentof organizational culture. This includes
monetary donations and aid given to local organizations and impoverished communities in
developing countries. As such, using aggregated weights assigned to K dimensions of social
performance obtained through questionnaire for CSP and using change in Return of Equity, change
in Return on Sales and growth in sales as financial measures on a sample of 496 firms, Bernadette
M. Firmculture, more specifically the orientation of theculture, affects the overall performance of
theorganization whether this is financial performanceor reliability performance. H1: Formal strategic
planning has positiveimpact on CSR. One of the main themes in the literature on CSR is the
relationship between CSR and business performance. A third theme in the literature on CSR is the
role of external factors in shaping a company's CSR activities. In this study authors attempts to
explain various benefits that corporates reap if they are more involved in socially responsible
activities on the basis of the existence of various previous research. CSR policy functions as a built-
in, self-regulating mechanism whereby a business monitors and ensures its active compliance with
the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace
responsibility for the company's actions and encourage a positive impact through its activities on the
environment, consumers, employees, communities, stakeholders and all other members of the public
sphere who may also be considered as stakeholder.
Some of these problems can be taken care of through attitudinal change by the people and this can
only be done through public enlightenment and advocacy. As it identifies certain matters and facts
which only overcome by having deep research. A firm’s culturerefers to values, beliefs and
assumptions that itsmembers hold about the organization. Humanistic culture, aspresented in the
analysis, the findings of presentstudy add to the literature by proving that someother internal factors
are also linked to CSR, overand above the impact of formal strategic planning. Another approach to
CSR is to incorporate the CSR strategy directly into the business strategy of an organization. The
second one is Philanthropic Model whereas this model defines that business is always free to
contribute for the society and the welfare for the disadvantaged people of the society. A total 800
questionnaires weredistributed among the participants, and 196participants returned the
questionnaires (24.5%response rate). Only 172 (21.5%) survey question-naires were found to be
complete from all aspects.Furthermore, participants were assured of confi-dentiality and the
researchers’ independence fromthe organization. The literature suggests that companies that
effectively manage their relationships with these stakeholders tend to have better CSR outcomes.
More and more often it is perceived by managers as a factor of strategic nature, which defines the
ability to achieve economic goals. It is obvious that the inclusion of CSR practices in the operation of
the company is likely to increase costs that will in turn lead to negative performance. There is also
debate about the direction of causality, with some arguing that good financial performance enables
companies to engage in CSR activities, while others suggest that CSR activities contribute to
improved financial performance. According to a report from PricewaterhouseCoopers Cheney, 2004,
companies that ignore environmental problem and social responsibility are all suffer disaster. This
essay will provide a literature review on CSR, highlighting key themes and trends in the field. The
literature is obtained from the study that was conducted by the author in Kabwe Town and it
employed a qualitative research design where in-depth interviews and focus group discussions were
conducted. Projects such as clean water supply, maintenance of infrastructure and sanitation were
least implemented under CSR due to cost implication attached to the process of supplying and
purifying water. Even, the can contribute by producing product for society. The third one is realist
view whereas it assembles the best model of the alliance that Corporate Social Responsibility isn’t
just about the practice of wealth maximization, assets valuation, increase of profit, fundraises but it
should be the practice by the organizations to put resources into communities for the welfare of the
socially disadvantaged people to resolve or reduce their social issues. Fineman S, Clarke K. 1996.
Green stakeholders: industryinterpretations and response. It may be understood as the trend of social
inclusion within the scope of responsibility of daily business operations, and its effective compliance
becomes an important criterion for assessing the credibility of the company by its suppliers,
customers, or employees. We reviewed some survey reports made on CSR before and after the Indian
companies act, 2013. On the basis of the argument, it seems thatfirms who adopt a formal approach
to strategicplanning possibly develop deep insight into thedemand of social responsibility, thus
enablingand promoting CSR policy and practice. It is true that organizations are associated with the
social issues to resolve, they may get extra benefit from the people of the society because it is the
form of creating relationships with clients and their neighborhoods improve the brand’s image
(Collier, 2018). As literature review means to analyse certain facts in deeper ways to conclude the
outcome from that research. Stakeholders are those whoseinterests are linked with the firms, and
they canbe shareholders, employees, investors, suppliersand customers. Companies are increasingly
being held accountable to a wide range of stakeholders, including employees, customers, suppliers,
investors, and local communities. The findings of the study showed that the motives for CSR among
industries are to foster sustainable development through education, social recreation activities and
environmental management. This scaleuses four dimensions of CSR that consists ofeconomic, legal,
ethical and discretionary respon-sibilities. Download Free PDF View PDF EXTENT OF
ENVIRONMENTAL SUSTAINABLE CORPORATE SOCIAL RESPONSIBILITY PRACTICES
OF MANUFACTURING COMPANIES IN CROSS RIVER STATE, NIGERIA Dr. Okoli,
Constance Ifeyinwa Environmental Sustainability Practice is one of the major Corporate Social
Responsibilities (CSR) of manufacturing companies in Nigeria necessary to achieve development and
poverty eradication among the populace. Along with some important managerial andacademic
implications, the present study also hassome limitations. Therefore, the instruments of corporative
citizenship turned also to the preservation of the environment as a strategic element for enterprises in
the whole world.
On the basis of the aforementioneddiscussion, a positive impact of formal strategicplanning is
expected on CSR. As CFP was expected to be positively related to CSP, a one-year lag between
CFP and all independent variables CSP, firm size, debt level, and industry was used. Devenish P,
Fisher T. 2000. Is strategic planningworth theeffort. CSR initiatives create variety of benefits but
little is known on any practices among companies in Tanzania. Hence, CSR is a contribution to
sustainable development, implying the way a company balances its economic, environmental and
social objectives while addressing stakeholder expectations and enhancing shareholder value. In case
of Johnson andJohnson, for example, the culture of social respon-sibility led the management to
recall the productsin order to keep its customers safe from potentialharm (Sinclair, 1993). THEORY
AND HYPOTHESES Formal Strategic Planning and Corporate SocialResponsibility Scholars
advocating strategic planning as a formalactivity argue that it is a comprehensive and systematic
approach used to develop a firm’s over-all direction. Data were collected from 172 partici-pants (top
level management personnel) from 800randomly selected service and manufacturingorganizations in
Pakistan. Download Free PDF View PDF See Full PDF Download PDF Loading Preview Sorry,
preview is currently unavailable. Several scholars have viewed strategic planning(Carroll and Hoy,
1984; McWilliams et al., 2006),as a crucial way that firms use to address stake-holders to assess their
expectations. Cooke RA, Rousseau DM. 1988. Behavioral norms andexpectations: a quantitative
approach to the assessmentof organizational culture. Firmculture, more specifically the orientation of
theculture, affects the overall performance of theorganization whether this is financial performanceor
reliability performance. Moreover, data collected can also guide corporations by providing them with
an understanding of sustainable development and the resources they can make use of to establish a
sustainable future for society and the environment. This study focused onformal strategic planning
approach and used fivedimensions to operationalize the construct ratherthan to measure
implementation. Companies are increasingly being held accountable to a wide range of stakeholders,
including employees, customers, suppliers, investors, and local communities. The main purpose of
this paper is to look at the importance of CSR and the reality happened in Indonesia. LR is adopted
by various students and PhD holders to prepare thesis, dissertation and articles. Projects such as
clean water supply, maintenance of infrastructure and sanitation were least implemented under CSR
due to cost implication attached to the process of supplying and purifying water. There is also debate
about the direction of causality, with some arguing that good financial performance enables
companies to engage in CSR activities, while others suggest that CSR activities contribute to
improved financial performance. The success or failure of a corporate is mostly measured by its
financial achievements. Fineman S, Clarke K. 1996. Green stakeholders: industryinterpretations and
response. The main purpose of the study is to analyze the viewpoint of different organizations that
how they consider this CSR spending. The CSR concept -was initially used by national companies
more as a marketing and media coverage instrument, rather than for its ethical values. Allthe items of
the scale were measured on 5-pointLikert scale. Second,the data were collected from a sample of
firms inPakistan. One of the main themes in the literature on CSR is the relationship between CSR
and business performance. As if there is a trade-off between conducting CSR and achieving
corporate performance. Bypaying attention towards humanistic culture, onethat is likely to exhibit
concern and sensitivitytowards internal and external stakeholders, thefindings illustrate such a
culture’s incrementalexpounding power in determining CSR, afterexplaining the impact of formal
strategic planning.The findings of present study also support thebelief that culture is a phenomenon
that exists atorganizational levels (Allaire and Firsirotu, 1984)and that it influences on a firm’s
inclinationtowards CSR. CSR represent by environment, community, marketplace and workplace
were used as independent variable while CFP represent by Return on Asset ROA and Return on
Equity ROE were used as dependent variable. Using extensive data over a period of five years, this
study explores and tests the sign of the relationship between corporate social responsibility and
financial performance.
On thebasis of definition of strategic planning, Carrolland Hoy (1984) argued that a firm’s
strategicplanning efforts should guide all those activitiesnecessary to adapt the environment, also
includ-ing those associated with CSR. To retain the loyal customer is most effective by CSR
program. CSR initiatives create variety of benefits but little is known on any practices among
companies in Tanzania. Interview was used as data collection tool which was analysed in themes.
Descriptive analysis, independent sample t-test and One-way ANOVA occupied for the analysis. As
it identifies certain matters and facts which only overcome by having deep research. According to
the results in descriptive analysis CSR is a more intrinsically driven concept in Sri Lanka. It means
satisfying your shareholders’ and customers’ demands while also managing the expectation of other
stakeholders such as employeessuppliers and the community at large. There are different views of the
role of the firm in society and disagreement as to whether wealth maximization should be the sole
goal of a corporation. However, littletheoretical and empirical attention has been paidin exploring and
understanding the drivers thatshape firm’s CSR (Galbreath, 2010). The findings revealed that
education, health projects and games project were among the most projects implemented as CSR
that contributed to the development of the community in Mwanza. The study, I hope, would help
other small and medium sized companies, to actualize their CSR interventions by identifying
appropriate target group of people to discharge CSR activities. As a result, this competition also
brought a powerful driver for both environmental conflicts and damage to our fragile, life-
supporting environment. Observasi, melakukan pengamatan secara langsung di tempat pelaksanaan
tradisi ruwatan bulan purnama, 2). This suggests that when different functionsinteract with variety of
stakeholders, they learnabout stakeholders’ individual needs (Galbreath,2010). Using a difference-
in-difference approach, we found that before the legitimation of CSR the performance found to be
better than post CSR legislation. They defined CSR as actions offirms carried out to meet the
economic, legal,ethical and discretionary responsibilities that areimposed on them by their
stakeholders. Podsakoff PM, MacKenzie SB, Lee JY, Podsakoff P.2003. Common method bias in
behaviouralresearch: a critical review of the literature andrecommended remedies. The foundation
used to understand the responsibilities that an organization has towards society is known as CSR. In
addition, government regulations must be enforced to ensure that all companies implement CSR.
Majority of the respondents prioritized accountability, transparency and respect for stakeholder
interests. In fact, it owes its origin due to the globalisation which took place after many
multinational corporations were formed. Finally, theory suggests thatcultural characteristics also
impact on a firm’sability to demonstrate CSR. However, conceptual links between strategicplanning,
firm culture and CSR have seen littleor no empirical verification (Galbreath, 2010).Cambell (2007)
and Margolis and Walsh (2003)argued that too much stress has been put onexamining the content of
CSR activities rather thanon assessing the internal factors that may shapeor determine such activities.
Sustainability has become increasingly significant to study of business and the application over past
decades as a result of quick dilution of natural origins and interests over responsibility. This paper
reviews the literature on: 1) definition or meaning of CSR; 2) factors contributing to CSR and CSR
influence on financial performance; 3) research techniques employed in similar studies. The results
indicate that the sign of the relationship is positive and statistically significant; supporting the view
that socially responsible corporate performance can be associated with a series of bottom-line
benefits. Some of CSR demandscome from internal stakeholders, such as moraland relational needs
of employees (Aguilera et al.,2006). Of interest, then, is what shapes a firm’sCSR response arising
from stakeholders’demands.Moreover, scholars have claimed that the inclina-tion toward socially
responsible corporate behav-ior differs across countries, and much moreresearch is needed to
recognize why (Maignanand Ralston, 2002). In the framework of sustainability, Alcoa is considered
one of the top three companies in the world in terms of commitment to sustainable development and
has made use of an environmental strategy associated with a truthful social responsibility in order to
gain competitive advantage and success in the marketplace. Moreover, this CSR Integrative Model
states that there must have a relationship between profit and social responsibility because profit
should be shared within the social community for the development as well as welfare or largely
societal infrastructure development.
On the evidence discovered to date in the literature review and the interviews, CSR seems to be
perceived by many as the social strand of sustainable development. The main purpose of this paper is
to look at the importance of CSR and the reality happened in Indonesia. The purpose of this is to
develop a contrarian viewpoint in body of literature. CSR Philanthropic Model considered CSR
program as an investment as it will increase brand or public relations of the business image to the
market. As it identifies certain matters and facts which only overcome by having deep research. In
order to test for statistical significance andstrength of relationship, hierarchical regressionanalysis was
run using IBM SPSS 20 (IBM Corpor-ation 1 New Orchard Road Armonk, New York10504-1722
United States). Ramanujam V, Venkatraman N, Camillus JC. 1986.Multi-objective assessment of
effectiveness of strategicplanning: a discriminant analysis approach. Corporate businesses generally
have to meet ethical, legal, commercial and public expectations. In this study authors attempts to
explain various benefits that corporates reap if they are more involved in socially responsible
activities on the basis of the existence of various previous research. The marketing approach focuses
on the use of the real market values in determining the overall financial performance of the firm.
Marsiglia E, Falautano I. 2005. Corporate socialresponsibility and sustainability challenges for
aBancassurance Company. Even, the can contribute by producing product for society. According to
the act, every business organization is a responsible player to build an equitable society and for that
CSR should be a part of the DNA of every organization. Formal Strategic PlanningA 5-point Likert
scale was used to measure formalstrategic planning. Maignan I, Ralston DA. 2002. Corporate social
responsi-bility in Europe and the US: insights from businessesself-presentations. This study focused
onformal strategic planning approach and used fivedimensions to operationalize the construct
ratherthan to measure implementation. In a current scenario, organizations have failed to take
responsibility for what they are operating, so it is needed to consider the real cost of their functioning
which brings a focus toward the environmental and social concerns. Rowley T, Berman S. 2000. A
brand new brand ofcorporate social performance. But, most of the researches that have been
conducted with regard to CSR were mainly focused on macro perspective with their great emphasis
on the relationship between CSR initiatives and financial performance. To browse Academia.edu and
the wider internet faster and more securely, please take a few seconds to upgrade your browser. In
1970, Milton Friedman was the first scholar who wrote an article regarding the responsibilities of
corporations. The first C means of the category for Conviction whereas it is about realistic or actual
improvement towards the business implementation and execution. It is a different measure than
revenue, but still a meaningful indicator of corporate success. McWilliamsA, Siegel D. 2001.
Corporate social responsi-bility: a theory of the firm perspective. The data collected were analyzed
using mean scores for the research questions. Download Free PDF View PDF CORPORATE
SOCIAL RESPONSIBILITY (CSR) (Study of practicesof Leading Corporate Houses) Journal
ijmr.net.in(UGC Approved) Corporate Social Responsibility refers to ensuring the success of the
business by inclusion of social and environmental considerations into a company’s operations. This
paper reviews the literature on: 1) definition or meaning of CSR; 2) factors contributing to CSR and
CSR influence on financial performance; 3) research techniques employed in similar studies.
Second,the data were collected from a sample of firms inPakistan. Nonetheless,the findings show a
link only and not causality;therefore, the findings are not suggesting thatfirms following informal
planning process demon-strate irresponsible behavior or poor citizenship.Finally, culture of an
organization can affect thedegree of demonstration as to socially responsiblepractices. A literature
review is an important component of a dissertation, as it provides a comprehensive overview of the
existing research on a particular topic.