The Strategic Corporate Social Responsibility (CSR) for Sustainable Corporate (Business)
DOI:
https://doi.org/10.24234/wisdom.v23i3.855Keywords:
CSR - philosophical framework, impact, confident image, customer retention, stability and cash flow, recruitment, investors, sustainability, individual roleAbstract
Corporate social responsibility (CSR) is essential to sustainable business development within and outside the workplace. If we think of corporate (business) as being through, by, and for society, then we can readily analyse the impact of corporate social responsibility (CSR) on our community as a whole as well as in corporate (business). This paper analyses specific strategic objectives and motivations for adopting corporate social responsibility (CSR) to provide a text for regulating sustainable business. Why is corporate social responsibility (CSR) a strategic tool for long-term corporate (business) sustainability? This concept focuses on generating extraordinary corporate results and establishing an incredible practical effort on corporate social responsibility (CSR) for Sustainable Corporate (Business). We are now advancing our study agenda on the analytical method in this work. Here, we provided a roadmap for moving forward with our theoretical, analytical, and empirical investigation of corporate social responsibility (CSR). This research and documentation on corporate social responsibility (CSR) as a strategic tool for sustainable corporate (business) is one of the “first” of its kind. It serves as a foundation for understanding the dynamics of sustainable business through corporate social responsibility (CSR) in the years to come.
Downloads
References
Ackerman, R. W. (1973). How companies respond to social demands. Harvard Business Review, 51(4), 88-98.
Alexander, G. J., & Buchholz, R. A. (1978). Corporate social responsibility and stock market performance. Academy of Management Journal, 21(3), 479-486. DOI: https://doi.org/10.5465/255728
Arlow, P., & Gannon, M. J. (1982). Social responsiveness, corporate structure, and economic performance. Academy of Management Review, 7(2), 235-241. DOI: https://doi.org/10.5465/amr.1982.4285580
Aupperle, K. E., Carroll, A. B., & Hatfield, J. D. (1985). An empirical examination of the relationship between corporate social responsibility and profitability. Academy of Management Journal, 28(2), 446-463. DOI: https://doi.org/10.5465/256210
Balagangadhara, S., (1984). Philosophical explanations. The Belknap press of Harvard university press. Cambridge, Massachusetts, 1981. Robert Nozick. Philosophica, 34. https://doi.org/10.21825/philosophica.82558 DOI: https://doi.org/10.21825/philosophica.82558
Bansal, M., & Kumar, V. (2021). Forcing responsibility? Examining earnings management induced by mandatory corporate social responsibility: Evidence from India. Review of Accounting and Finance, 20(2), 194-216. DOI: https://doi.org/10.1108/RAF-06-2020-0151
Baxi, C. V., & Prasad, A. (Eds.). (2005). Corporate social responsibility: Concepts and cases: The Indian experience. New Delhi: Excel Books.
Bazarov, T., Gevorgyan, S., Karapetyan, V., Karieva, N., Kovalenko, L., & Dallakyan, A. (2021). Modification of the concept of trust in the organization. WISDOM, 19(3), 68-83. DOI: https://doi.org/10.24234/wisdom.v19i3.463
Beauchamp, T. L., Bowie, N. E., & Arnold, D. G. (Eds.). (2004). Ethical theory and business. New York: Pearson Education.
Beesley, M., & Evans, T. (1978). Corporate Social Responsibility: A Reassessment. London: Croom Helm.
Bowman, E. H., & Haire, M. (1975). A strategic posture toward corporate social responsibility. California Management Review, 18(2), 49-58. DOI: https://doi.org/10.2307/41164638
Bragdon, J. H., & Marlin, J. (1972). Is pollution profitable? Risk Management, 19(4), 9-18.
Carroll, A. B. (1999). Corporate social responsibility: Evolution of a definitional construct. Business & Society, 38(3), 268-295. DOI: https://doi.org/10.1177/000765039903800303
Chakraborty, D. K., & Gogoi, P. K. (2008, January-April). Sustainable development and the philosophy of grand national happiness: Socio-economic and genetic paradigm. ABAC Journal, 28(1),1-12.
Retrieved from http://www.assumptionjournal.au.edu/index.php/abacjournal/article/view/552/492
Cochran, P. L., & Wood, R. A. (1984). Corporate social responsibility and financial performance. Academy of Management Journal, 27(1), 42-56. DOI: https://doi.org/10.2307/255956
Coffey, B. S., & Fryxell, G. E. (1991). Institutional ownership of stock and dimensions of corporate social performance: An empirical examination. Journal of Business Ethics, 10(6), 437-444. DOI: https://doi.org/10.1007/BF00382826
Cornell, B., & Shapiro, A. C. (1987). Corporate stakeholders and corporate finance. Financial Management, 5-14. DOI: https://doi.org/10.2307/3665543
Cottrill, M. T. (1990). Corporate social responsibility and the marketplace. Journal of Business Ethics, 9(9), 723-729. DOI: https://doi.org/10.1007/BF00386355
Cyert R. M. & March J. G. (1963). A behavioral theory of the firm. Prentice-Hall.
Davis K. & Blomstrom R. L. (1975). Business and society: Environment and responsibility (3rd ed.). McGraw-Hill.
Davis, K. (1975). Five propositions for social responsibility. Business Horizons, 18(3), 19-24. DOI: https://doi.org/10.1016/0007-6813(75)90048-8
Hirigoyen, G., & Poulain-Rehm, T. (2014). Relationships between corporate social responsibility and financial performance: What is the causality? http://dx.doi.org/10.2139/ssrn.2531631 DOI: https://doi.org/10.2139/ssrn.2531631
Hovhannisyan, H., Hovhannisyan, H., & Petrosyan, A. (2018). Young professionals’ labour market integration issues in Armenia: A case study with special reference to alumni of Armenian State Pedagogical University. WISDOM, 11(2), 42-52. DOI: https://doi.org/10.24234/wisdom.v11i2.225
Kahneman, D., Knetsch, J. L., & Thaler, R. H. (1986). Fairness and the assumptions of economics. Journal of Business, S285-S300. DOI: https://doi.org/10.1086/296367
Kryshtanovych, M., Golub, V., Kоzakov, V., Pakhomova, T., & Polovtsev, O. (2021). Socio-ecological effect of public management of green development in the context of the philosophy of modern ecology. WISDOM, 19(3), 114-126. DOI: https://doi.org/10.24234/wisdom.v19i3.493
Lewis, A., & Wärneryd, K. E. (Eds.). (1994). Ethics and economic affairs. London: Routledge. https://doi.org/10.4324/9780203029374 DOI: https://doi.org/10.4324/9780203029374
McGuire, J. B., Sundgren, A., & Schneeweis, T. (1988). Corporate social responsibility and firm financial performance. Academy of Management Journal, 31(4), 854-872. DOI: https://doi.org/10.5465/256342
Mintzberg, H., & Quinn James, B. (1995). Planeación estratégica (Strategic planning, in Spanish). Mexico: Pren-tice-Hall Hispanoamericana.
Mintzberg, H., Ahlstrand, B., & Lampel, J. B. (2020). Strategy safari. Pearson UK.
Moskowitz, M. (1972). Choosing socially responsible stocks. Business and Society Review, 1(1), 71-75.
Moskowitz, M. (1975). Profiles in corporate responsibility: The ten worst and the ten best. Business and Society Review, 13, 8-42.
Mulligan, T. (1986). A critique of Milton Friedman’s essay ‘the social responsibility of business is to increase its profits’. Journal of Business Ethics, 5(4), 265-269. DOI: https://doi.org/10.1007/BF00383091
Nozick, R. (1983). Philosophical explanations. Harvard University Press.
Parket, I. R., & Eilbirt, H. (1975). The practice of business social responsibility: The underlying factors. Business Horizons, 18(4), 5-10. DOI: https://doi.org/10.1016/0007-6813(75)90019-1
Pava, M. L., & Krausz, J. (1996). The association between corporate social-responsibility and financial performance: The paradox of social cost. Journal of Business Ethics, 15(3), 321-357. DOI: https://doi.org/10.1007/BF00382958
Quinn, J., & Mintzberg, H. (1991). The strategic process: Concept, contexts and cases. New York: Irvin.
Sanyal, R. N., & Neves, J. S. (1991). The Valdez Principles: Implications for corporate social responsibility. Journal of Business Ethics, 10(12), 883-890. DOI: https://doi.org/10.1007/BF00383794
Shan, M., You, J., Wang, Y., & Liu, H. (2015). A process model of building sustainable competitive advantage for multinational enterprises: An empirical case study. Problemy Ekorozwoju, 10(1), 67-78.
Sims, R. R. (2003). Ethics and corporate social responsibility: Why giants fall. Greenwood Publishing Group.
Solomon, R. C., & Hanson, K. (1985). It’s good business. New York: Atheneum.
Spicer, B. H. (1978). Investors, corporate social performance and information disclosure: An empirical study. Accounting Review, 94-111.
Sturdivant, F. D., & Ginter, J. L. (1977). Corporate social responsiveness: Management attitudes and economic performance. California Management Review, 19(3), 30-39. DOI: https://doi.org/10.2307/41164709
Uddin, M. B., & Akhter, B. (2012, May-August). Interfirm value creation: Conceptualizing for the success and sustainability of strategic partnerships. ABAC Journal, 32(2), 37-51.
Ullmann, A. A. (1985). Data in search of a theory: A critical examination of the relationships among social performance, social disclosure, and economic performance of US firms. Academy of Management Review, 10(3), 540-557. DOI: https://doi.org/10.5465/amr.1985.4278989
Vance, S. C. (1975). Are socially responsible corporations good investment risks? Management Review, 64(8), 19-24.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Avinash KUMAR, Abhijeet KUMAR, Ajit KUMAR BEHURA
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Creative Commons Attribution-Non-Commercial (CC BY-NC). CC BY-NC allows users to copy and distribute the article, provided this is not done for commercial purposes. The users may adapt – remix, transform, and build upon the material giving appropriate credit, and providing a link to the license. The full details of the license are available at https://creativecommons.org/licenses/by-nc/4.0/.