CORPORATE SOCIAL RESPONSIBILITY AND BRAND MANAGEMENT: EVIDENCE FROM CARROLL’S PYRAMID AND TRIPLE BOTTOM LINE APPROACHES

Dalia Štreimikienė,Rizwan Raheem Ahmed

doi:10.3846/tede.2021.14520

Dalia Štreimikienė, Rizwan Raheem Ahmed

Open Access

https://doi.org/10.3846/tede.2021.14520

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Abstract

The objective of this research is to evacuate the relationship between CSR initiatives and organizational performance. Additionally, the undertaken research examines the impact of brand image and brand awareness as mediators and corporate image as the moderator between CSR initiatives and organizational performance. We employed a modified conceptual framework derived from the Triple bottom line and Carroll’s pyramid models. The data was analyzed through the structural equation model by using confirmatory and exploratory factor analyses and conditional process approach for examining the direct, mediating, and moderating hypothesized relationships. The undertaken study’s outcomes demonstrated that the ethical, philanthropic, and sustainable dimensions positively and significantly influence organizational performance. Similarly, the mediation analysis suggested that the brand image and brand awareness are the potent mediators in an association between ethical, philanthropic, and sustainable dimensions and organizational performance. Findings further demonstrated that corporate image as a moderator has strong impact between exogenous factors and organizational performance. The undertaken study has important theatrical and managerial implications that provide value additions for both researchers and industry practitioners.

Highlights

In the day’s competitive business environment, corporate social responsibility is one of the most imperative business strategies for brand management to achieve sustainable longterm growth and organizational performance
The undertaken research outcomes confirmed that brand image and brand awareness are the right business strategies because they have an affirmative and significant association between ethical, philanthropic, and sustainable dimensions and organizational performance
This research concluded that the firm has to rollout effective CSR initiatives by adding a sustainable dimension as a business strategy that increases corporate image and sustainable long-term growth

Summary

Introduction

In the day’s competitive business environment, corporate social responsibility is one of the most imperative business strategies for brand management to achieve sustainable longterm growth and organizational performance. According to Lu et al (2020a), Ahmed et al (2017), Aguinis and Glavas (2013), and Almeida and Coelho (2019), the creative environmental corporate strategies are connected with CSR practices; companies could achieve the demand of the competitive market by embracing CSR initiatives as a corporate strategy for long-term sustainable growth, and competitive advantage. Previous literature has substantiated the rivalry amongst the firms, and addressed a dire requirement to establish marketable, sustainable growth, innovative process, and authentic green brands They integrate CSR initiatives into business strategies to compete with other brands (Ahmed et al, 2017; Cretu & Brodie, 2007). Several studies have demonstrated a positive influence of CSR initiatives on the brand image; studies further suggested that the applied CSR initiatives and consumer’s perception regarding the brand awareness and brand image are interrelated (Boonpattarakan, 2012; Casado-Diaz et al, 2014; Werther & Chandler, 2005)

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