- Published: January 19, 2022
- Updated: January 19, 2022
- University / College: Brunel University London
- Level: Undergraduate
- Language: English
- Downloads: 10
Conclusion and Evaluation of Corporate Social Responsibility From the research conducted, it is correct to that corporate social responsibility involves practices that are aimed at positively impacting the community within which a business operates and even creating a positive brand image for the business. Presently, there are prevailing debates within scholarly circles as to the direct impact of CSR on a business’s financial performance since it has not yet been validated how CSR activities directly help businesses apart from improving their brand image within the society (Lee and Kotler, 2013). Because of the lack of empirical evidence on the actual impact of CSR on business’ financial performance, there has been a slow uptake or adoption of CSR amongst various business organisations but nevertheless, the research conducted has shown that there are various factors that influence the adoption of CSR practices in business organisations (Lee and Kotler, 2013). However, Schwartz (2011) stated that it has been proved that CSR help businesses to have loyal customers who get attached to the business because of its good deeds and thereby assuring a business of steady sales revenue.
Summarily, it is important to note that CSR is a business practice that leads to outflow of cash from the business with no guarantee of gaining a return on the investment, but business such as Marks & Spencer, McDonalds Restaurant, Nike, HP, and RyanAir, implement CSR activities so that they can exercise certain legislative requirements. Secondly, such businesses implement CSR practices in order to abide by the interest of their stakeholders. Lastly, it was noted that public companies undergo a lot of pressure to adopt CSR practices unlike private companies, since they are subjected to high-level public scrutiny.
References
Lee, N., & Kotler, P. (2013). Corporate social responsibility: Doing the most good for your company and your cause. Hoboken, N. J: Wiley.
Schwartz, M. (2011). Corporate Social Responsibility: An Ethical Approach. Canada: Broadview Press
