Corporate Social Responsibility: Analysing Its Impact on Customer Loyalty in the Textile Industry of Maharashtra

Abstract

Corporate social responsibility (CSR) is gaining importance for corporations and is attracting a lot of attention. A company can be held socially responsible to its consumers, stockholders, and the general population by implementing a corporate policy of self-policing called social responsibility in business (CSR). By fulfilling their social obligations, businesses can become aware of how their actions affect society’s financial, social, and environmental conditions. Efficient corporate social responsibility practices aid businesses in improving their reputations among consumers, who are then motivated to support and show loyalty to the business. The company’s social responsibility will increase trust, which will boost customer loyalty. Huge corporations participate in corporate social responsibility mostly because it is viewed as a strategic edge and offers advantages to businesses, including enhancing their image, lowering marketing and operating expenses, and attracting investors and talents. Therefore, corporate social responsibility offers businesses several benefits, including boosting brand loyalty, trust, and positive sentiments about a company as well as fighting off the unfavourable press. By the support of managers and supervisors of the textile industry in Maharashtra, the recent study’s aspiration is to check and assess numerous aspects of corporate sustainability’s in customer loyalty. The major elements of corporate social responsibility enclosed beneath the study take in environmental responsibility, ethical responsibility, philanthropic responsibility, economic responsibility, and legal responsibility. Since customer loyalty is a significant determinant of corporate success, elements that foster loyalty are of considerable interest to businesses. All of this demonstrates the worth and necessitates for thorough study in the area of corporate social responsibilities impacting customer loyalty. This study intends to analyse the control of business social responsibilities on consumer loyalty in the textile industry of Maharashtra.