Corporate Social Responsibility Goals Research Articles

Innovation stakeholders: Developing a sustainable paradigm to integrate intellectual property and corporate social responsibility

AbstractInnovation is usually framed in terms of expanding the knowledge frontier or the commercialization of new ideas. However, it is much more than that. Innovation is also about providing greater well‐being for society and the various stakeholders that support a firm's efforts to innovate. This article examines the paradoxical status of innovation and its related legal domain of intellectual property rights, which largely exists beyond the purview of corporate social responsibility (CSR) theory, practice, and discourse. To address this conceptual deficiency, this article interlinks intellectual property, innovation, and CSR to offer three contributions. First, this article provides a working definition of the various stakeholders that must be identified to define CSR goals related to innovation. A critical aspect of CSR is the identification of relevant stakeholders. Second, this article discusses how established CSR approaches will accommodate these innovation stakeholders. Third, this article introduces and positions the managerial strategy of open innovation as a feasible and desirable approach that ethically recognizes, engages, and balances the interests of innovation stakeholders with the interests held by the firm and society. The normative argument made is that the firm's fiduciary leaders have an ethical obligation to pursue open innovation practices as a default norm to achieve the best CSR results for the firm and its various innovation stakeholders.

An analysis of Indian banks' CSR initiatives

A corporation or organization can simply increase their goodwill in the marketplace by engaging in corporate social responsibility (CSR) activities. Upholding moral principles and benefiting society are the overarching goals of corporate social responsibility. CSR takes into account both internal and external elements in addition to the value for their customers. Businesses gain by contributing significantly to corporate social responsibility (CSR) in a number of ways, including enhanced funding availability, new opportunities, employee retention, stakeholder satisfaction, and brand image. As globalization accelerates, banks are becoming increasingly engaged in corporate social responsibility initiatives to broaden their clientele. The corporate social responsibility (CSR) programme of the Indian banking sector focuses on projects like health and medical care, rural area development, and poverty eradication. It also aims to address financial inclusion, provide financial services to support national investment, and promote the socio-economic development of the country. The Bank's corporate social responsibility endeavours are predominantly centred around environmental sustainability, Swachh Bharat Abhiyan, and educational initiatives such as Beti Bachao Beti Padhao Abhiyan, among numerous other projects. This study's goal is to evaluate the CSR programs that the banking sector has implemented. The bank's CSR report is the source of the data.

Examining the Role of HRM Practices in Fostering Employee Engagement Towards CSR Initiative.

This paper investigates the pivotal role of Human Resource Management (HRM) practices in fostering employee engagement towards Corporate Social Responsibility (CSR) initiatives within organizations. CSR has become a cornerstone of modern business strategy, acknowledging its significance in promoting sustainable practices and societal well-being. Employee engagement serves as a crucial link between CSR initiatives and organizational success, influencing attitudes, behaviors, and commitment levels among employees. Drawing upon existing literature and empirical evidence, this research provides insights into how HRM practices can effectively nurture and sustain employee engagement towards CSR, thereby contributing to enhanced organizational performance and social impact. [1] Theoretical frameworks such as Social Exchange Theory and Psychological Contract Theory are utilized to understand the mechanisms through which HRM practices shape employee attitudes and behaviors towards CSR. Social Exchange Theory elucidates how HRM practices serve as indicators of organizational support and commitment, fostering reciprocity and engagement among employees towards CSR goals. Psychological Contract Theory highlights the role of HRM practices in shaping the implicit expectations and obligations between employees and organizations, influencing perceptions of trust, fairness, and mutual respect, which in turn drive engagement towards CSR. [2] The paper explores key HRM practices that play a vital role in fostering employee engagement towards CSR initiatives, including recruitment and selection, training and development, performance management, and rewards and incentives. It discusses how organizations can integrate CSR considerations into these practices to create an enabling environment that motivates and empowers employees to actively participate in CSR efforts. Furthermore, implications for HRM practice are outlined, emphasizing the need for strategic alignment between HRM and CSR objectives, leveraging technology and communication channels to enhance employee engagement, and fostering a culture of transparency and accountability. DOI: https://doi.org/10.52783/tjjpt.v45.i02.6106

Internal and external communication in oil & gas for enhancing CSR implementation: A review

Effective communication is essential for the successful implementation of Corporate Social Responsibility (CSR) initiatives in the oil and gas sector. This review examines the role of internal and external communication in enhancing CSR implementation in the industry. Internal communication focuses on engaging employees and stakeholders within the organization, while external communication involves interactions with external stakeholders, including communities, governments, and NGOs. The review finds that internal communication plays a crucial role in fostering a culture of CSR within oil and gas companies. By effectively communicating CSR goals, initiatives, and progress to employees, companies can increase employee engagement and commitment to CSR objectives. Internal communication also helps ensure that CSR values are integrated into organizational practices and decision-making processes. External communication is equally important for enhancing CSR implementation in the oil and gas sector. By engaging with external stakeholders, companies can build trust, enhance their reputation, and gain valuable insights into community needs and expectations. Effective external communication also helps companies demonstrate transparency and accountability in their CSR efforts, which is critical for maintaining a social license to operate. Overall, the review highlights the importance of integrating internal and external communication strategies into CSR implementation in the oil and gas sector. By fostering a culture of CSR internally and engaging with external stakeholders effectively, companies can enhance the impact of their CSR initiatives and contribute to sustainable development in the communities where they operate.

Ethics and corporate social responsibility in HR: A comprehensive review of policies and practices

The integration of ethics and corporate social responsibility (CSR) in Human Resources (HR) has emerged as a critical aspect of organizational management, reflecting a paradigm shift in business dynamics towards sustainability and societal well-being. This paper provides a comprehensive review of policies and practices pertaining to ethics and CSR in HR, shedding light on the evolving landscape of responsible corporate conduct. In recent years, organizations have recognized the profound impact HR policies and practices can have on the ethical fabric of the workplace. This review examines the multifaceted dimensions of ethics in HR, encompassing recruitment, employee relations, training, and performance evaluation. It underscores the importance of fostering a culture of fairness, diversity, and inclusivity in HR processes, acknowledging the pivotal role HR plays in shaping the organizational ethos. Moreover, the paper delves into the intricate relationship between CSR and HR, emphasizing the role of HR in implementing and championing CSR initiatives. Companies are increasingly acknowledging their societal responsibilities and are aligning HR strategies with broader CSR goals. This involves addressing social and environmental concerns, promoting community engagement, and ensuring ethical supply chain practices. The paper explores the mechanisms through which HR can effectively contribute to the fulfillment of CSR commitments. Furthermore, the review examines emerging trends and best practices in ethics and CSR in HR. It considers the adoption of technology, the incorporation of sustainable HR practices, and the development of metrics for measuring social impact. The paper concludes by highlighting the imperative for organizations to align HR policies and practices with ethical principles and CSR goals, emphasizing the symbiotic relationship between responsible HR management and sustainable business success. As organizations navigate an era of heightened societal expectations, a strategic integration of ethics and CSR in HR emerges as a cornerstone for fostering a socially responsible and ethically sound corporate environment.

Analysis of Corporate Communication Strategies in Enhancing Company Image

This research has the main objective to investigate how PT. XYZ utilizes social media as a means to improve its corporate image. This research adopts a descriptive qualitative approach with an in-depth focus on PT XYZ. We analyzed the various communication strategies they implemented, including the application of P.E.N.C.I.L.S and RPAE theories, as well as conducted a SWOT analysis to identify the strengths, weaknesses, opportunities, and threats faced by the company. In addition, we also conducted surveys and interviews with the corporate communication department. The results revealed that PT XYZ succeeded in building a positive image by implementing an effective corporate communication strategy. This strategy includes Corporate Social Responsibility (CSR) activities, quality service, social and environmental responsibility, and attention to safety. In addition, we found that PT XYZ is also active in customer acquisition (CA) strategies on social media platforms, such as Twitter, regardless of the company's reputation. Information strategies are used more often than response and engagement. However, some experts argue that engagement may be more effective in achieving CSR goals. In addition, CSR communication is more focused on the outcomes produced by CSR actions rather than the concrete ways such actions are taken, in line with consumer interests and expectations. In conclusion, this study provides important insights into PT XYZ's successful corporate communication strategies in building its positive image through social media. These discoveries can serve as a helpful roadmap for other companies seeking to enhance their corporate communication strategies in social media. Therefore, this study holds the promise of making a beneficial impact on advancing corporate communication practices in the ever-expanding digital era.

CSR: Issues, Developments, and Strategies of Intervention

This article delves into Corporate Social Responsibility (CSR) and its significance, drawing upon existing theoretical and empirical literature. It explores the contextual and highly debated relationship between profitability and morality, focusing on India's cultural diversity and its social development challenges. CSR and Sustainable Development Goals (SDGs) have been localised to address these challenges. The article analyses the potential implications of mandated CSR under India's recently enacted Companies Act of 2022 on firm incentives, likely responses of corporations within the ambit of the law, and the implications of resource availability and delivery of social good. The success of addressing these implementation challenges will determine how far the objective of the new regulation is met. Ultimately, this paper studies the interface between CSR and social development, emphasising the importance of both in promoting sustainable growth.

Global Automobile Manufacturers Mission Statements and CSR Letters

This study takes the triple bottom-line perspective to compare the communications of corporate social responsibility (CSR) in some of world’s top automakers’ mission statements and the CEO’s introductory letters to annual CSR reports before and during the COVID-19 pandemic. Content analysis based on Text Network Analysis (TNA) approach was deployed to examine the central messages and sub-themes of these documents based on CSR goals, time-orientation, and stakeholder groups, and then statistically compared within and among companies. Results reveal that Automakers’ mission statements collectively emphasized profit and customers, whereas CSR letters prioritized planet, people, and general society. As the pandemic progressed, the emphasis on people increased, indicating that organizations shifted their CSR focus towards supporting employees and local communities. However, the attention to profit and planet goals remained constant during the studied period.

Enhancing Corporate Social Responsibility (CSR) Communication and Stakeholder Engagement: Strategies for Building Trust and Fostering Social Impact.

This research aims to explore the challenges and opportunities associated with corporate social responsibility (CSR) communication and stakeholder engagement in contemporary business settings. The significance of CSR has grown globally, as organizations are expected to go beyond legal requirements and address the needs and expectations of various stakeholder groups. However, several issues hinder the effective implementation and communication of CSR initiatives. These include a lack of knowledge and experience in CSR sustainability, inadequate skills within public relations teams, employees' commitment and satisfaction, and growing public skepticism towards CSR goals. The research seeks to investigate how businesses can enhance their CSR communication strategies to build trust, reduce skepticism, and foster meaningful social impact. It will examine the role of social media as a platform for disseminating CSR messages, the relationship between CSR activities and organizational citizenship behavior, and the importance of clear communication channels between organizations and the public. Findings from this study will provide practical insights for businesses in optimizing their CSR communication efforts, strengthening stakeholder engagement, and contributing positively to society.

The Characteristics of the Financially Vulnerable Groups Impacted by COVID-19 and Other Factors

Businesses have been exposed to various challenges during the global pandemic. Unfortunately, the financially vulnerable groups in society are disproportionately affected by such a difficult time. Therefore, it is important for businesses to recognise this when creating new business models for sustainable corporate management. This paper attempts to (1) identify the factors that affect individual financial vulnerability, (2) develop survey items to assess financial vulnerability and its factors and (3) provide the characteristics of financially vulnerable groups by presenting a complete set of descriptive statistics. The results can help to create more inclusive business models that are better equipped to address the challenges ahead. A questionnaire-based survey was conducted with collaboration with an NGO that provides a financial counselling service in Hong Kong. In total, 338 valid responses were collected and the data were used to characterise financially vulnerable groups in terms of (1) change in financial conditions due to COVID-19; (2) exposure to digitised financial services and related push marketing; (3) financial management ability; (4) changes in four financial behaviours and (5) financial vulnerability as measured according to the debt/service ratio. Results show that the respondents have a median debt/service ratio of 0.513, which represents an unsustainable level of debt. Around ¼ of surveyed respondents reported that their debt/service ratio was 1 or even higher, indicating obvious difficulties in meeting financial obligations. A total of 36.7% of the respondents reported worsening financial conditions since the outbreak of COVID-19. The results presented provide a solid empirical set of data that will help future research work to examine and/or develop a heuristic financial vulnerability model that incorporates the key factors leading to it. Businesses can refer to them when creating new business models that are sustainable, able to meet corporate social responsibility goals and can achieve several targets/goals of the United Nations’ Sustainable Development Goals.

Does CSR contribute to the financial sector's financial stability? The moderating role of a sustainability committee

PurposeThis study tests whether corporate social responsibility (CSR) performance is a predictor of the financial sector's financial stability (FS), with the moderation of a sustainability committee.Design/methodology/approachThe sample covers financial sector firms included in the Thomson Reuters Eikon database. The analyses are based on 8,840 firm-year observations for the years between 2002 and 2019 and the country-firm-year fixed-effects (FE) regression analysis is executed.FindingsThe results reveal that CSR initiatives contribute to the financial sector's FS as a whole and the sector's three individual sub-sectors. This proven significant association holds for all sub-sectors, namely insurance, banking, and investment banking. Moreover, the moderation analysis reveals the prominent role of a sustainability committee in bridging CSR performance (CSRP) with FS.Research limitations/implicationsThe findings highlight that meeting societies' expectations pays back in the form of greater FS in the financial sector.Practical implicationsThe findings suggest that CSR engagement helps the financial sector firms manage their risks and alleviates exposure to insolvency. This is because CSR performance promotes firms' accountability and transparency toward stakeholders. The results help motivate managers to pursue CSR goals more seriously to ensure FS. The moderation analysis implies that sustainability committees develop policies and practices to integrate the non-financial and financial goals of the firm.Originality/valueAlthough prior studies have examined the link between CSR and financial performance (FP) in the financial sector, those studies have largely ignored FS in terms of risk-adjusted performance. Besides, prior studies have exclusively focused on the banking sector, but the authors concentrate on the banking, insurance, and investment banking sectors.

Comparing Sustainable Procurement in Green Supply Chain Practices Across Indian Manufacturing and Service Sectors

After COVID, Original equipment manufacturers (OEMs), suppliers, and distributors are seeking to streamline their local, and global supply chains, the issue has gained attention in how they identify, analyze and manage their procurement and supply chain processes with stakeholders. The use of supply chain adoption with green technology has been found to be preferred in international trade, which is forcing the Indian manufacturing, and services sector to realign their CSR (Corporate social responsibility) goals. Interviews have been conducted with a mix of manufacturing and service firms in India to map their sustainable procurement in green supply chain practices. The use of MAXQDA software for conducting thematic analysis to support the inductive theory and trend-building practices to know “what, why, and how” from interview responses. Each sector, manufacturing, and service showed distinct trends that divorce their approach to green SCM, and supply chain strategy for sustainable procurement though they have spread awareness about sustainable procurement with stakeholders, emphasizing economic benefits. Additionally, they pursued jointly to address environmental issues and extend societal benefits as a CSR effort. Variances in approaches in manufacturing are market-linked, time-based, and demand-driven while services firms showed green technology pledges as CSR initiatives along with an environmental emphasis in downstream SCM activities.

How open innovation can improve companies' corporate social responsibility performance?

AbstractOpen Innovation (OI) allows companies to develop innovative solutions more effectively, with lower costs and risks. The economic benefits of OI have been thoroughly investigated in prior research. More recent literature suggests that OI can help companies also improve their Corporate Social Responsibility (CSR) performance. Contributions on how open innovation can help companies improve their CSR performance, however, are fragmented and lack strong theoretical foundations. In this study, we perform a systematic literature review to synthesize the main findings and provide a theoretical framework to explain how companies can simultaneously improve OI and CSR through the management of relationships with stakeholders. The framework is then used to investigate how OI projects favour the achievement of CSR objectives, by referencing the 17 United Nations (UN) Sustainable Development Goals (SDGs). Results show that the stakeholders' theory can be used to explain the connection between OI and CSR performance. We also find that companies can collaborate with different stakeholders' categories to achieve a variety of CSR goals. We suggest that companies adopt a long‐term perspective and explicitly include sustainability objectives in their open innovation strategy to enhance their position as reliable partners and elicit favourable responses from the environment. Results also allow us to provide some suggestions for future research. First, we point out that literature currently lacks conceptual studies to help formalize the connection between OI and CSR. Secondly, we observe that the influence of some stakeholders' categories, such as governments and research organizations, on companies' OI and CSR efforts remains under‐investigated.

Corporate Social Responsibility of Financial Cooperatives: A Multi-Level Analysis

Cooperatives, which have a dual mission that includes both business and social goals, are of particular interest for the study of corporate social responsibility (CSR). The aim of this study was to examine how cooperative directors influence the CSR strategies of their organization. We used a multi-level conceptual framework, consisting of micro, meso, and macro levels, to analyze qualitative data (20 interviews, observation of two board meetings and analysis of over 25 public documents) collected through a case study design that focused on the directors of three financial cooperatives operating under a large group of Canadian financial service cooperatives. Our study contributes first by building on prior studies that link CSR goals to the cooperatives’ dual mission and commitment to improving their community. We enrich prior findings by showing how directors play a crucial role in the enactment of the social dimension of CSR, but that conversely, cooperatives are vehicles for directors who want to contribute to the improvement of their community, thus creating a virtuous circle. Secondly, comparing bureaus operating in urban and rural areas allows us to show how the specificities of the community in which a cooperative evolves influence the approach of the directors towards the environmental dimension of CSR.

Establishing a Corporate Mentor Partner Program (CMPP) focusing on Corporate Social Responsibility (CSR) – considering addressing gender bias and equality

At Alliance Manchester Business School (AMBS) we piloted a new innovative mentoring program, the Corporate Mentor Partner Program (CMPP). Several factors contributed to this initiative, with one of the main drivers being that certain groups of graduates, females on a specific program, did not progress their career as well as expected and were lagging their peers after graduation. In the CMPP pilot, we worked with individual organisations, corporate partners, on a specialised and individually tailored mentoring program, making sure we could target and match specific student groups and aligning this with the ethos and CSR goals of the corporate partner organisation, particularly focus on gender equality. The mentoring would no longer just be between the mentor and the mentee, but additional stakeholders would benefit such as the University and other external organisations. An online mentoring platform was carefully selected. Student groups were invited to engage with the CMPP. The article discusses the background of the program, how students were identified and engaged, selection of corporate partners, why and how CSR played a role, the benefits to all stakeholders, criteria for an online platform, but also the challenges and learnings that needs to be taken into consideration should a larger scale program be established. Key learnings from the pilot are to consider clear rules of engagement, consider the methods of matching carefully and be sensitive to cultural differences, consider target groups (females or further inclusivity) as well as having clear timelines for maximum impact.

Corporate Social Responsibility and Social Development in India: An Interface

Corporate Social Responsibility (CSR) is a much-discussed subject understood contextually and largely debated between dichotomies of profitability and morality. India makes a case for amalgamation of both these dichotomies through compulsory CSR mandate. The cultural diversity of India offers a multitude of challenges in social development and has been approached through localization of both CSR and Sustainable Development Goals (SDG). The objectives of Indian CSR programme are further mapped to Agenda 2030 for achieving sustainable development goals. The influence of this approach is visible in shifting quantum of money, corporate initiatives as well as government schemes toward various development programmes. This paper studies the interface between CSR and social development, which makes a compact case for a public–private partnership to achieve Agenda 2030.

Changes in the structure of the CSR strategy of companies in the context of Russia’s military invasion of Ukraine in 2022

Purpose of paper: This is a presentation of basic changes in the approach to the Corporate Social Responsibility (CSR) strategy of Ukrainian and Polish companies in the context of Russia’s military invasion of Ukraine, and their impact on business efficiency. This study was conducted to determine how businesses have changed CSR strategies based on the assistance provided. Design/approach: The paper is consisted with 3 parts. The first is about a theoretical context of CSR in Ukraine and Poland – as a short view of literature and practices related to topic, in the time of begging of War. The second part includes findings on research sample – questionnaire research among Ukrainian companies and their practices with CSR during the begging the War. The last part is an attempt of conceptualization own proposal of operationalization of CSR strategy in a time of war called Emergency Reflection Algorithm. Practical implications: The development of corporate social responsibility is one of the ways of strategic business development in achieving strategic goals, strengthening competitive positions in the market, building partnerships, establishing stable relationships between all elements of the internal and external environment of enterprises. Social implications: With the beginning of Russia's military invasion of Ukraine, there is an active participation of business in addressing the vital needs of civilians, military support, for Ukrainian citizens. Enterprises spend insane resources in material and financial terms in turbulent times of war. In general, understanding they bring emergency impact into a social surviving. The main subject of the research was the assessment of CSR practices in the face of a huge change, which was Russia's aggression against Ukraine. Findings: Half of the surveyed enterprises changed the strategic goals of CSR. In general, the primary goals are “Income” and “Use of material and financial resources: hire productivity of assets, better capital use, cost decrease”. The identified CSR strategy meets the criterion of measurability, and therefore all changes that are made to the current strategy or when formulating a new strategy must be adjusted to the strategic goals of CSR. Surveyed enterprises changed their strategic goals, while the rate of change in the strategic indicators of the positive contribution of CSR. This result demonstrates the need for changes in the enterprise management system. Originality/value: There was proposed the Business Model Canvas as tool to help forming/ adapting a CSR strategy. Keywords: CSR, Ukraine enterprises, war in Ukraine, sustainability management. Category of the paper: research paper, conceptual paper.

Quantitative Portfolio Management Through Carbon Budgeting in a PSX Perspective

Portfolio management requires investment managers to consider investor preferences before taking any investment decisions. Some of the investors might be interested in building a clean, environmentally friendly, and carbon-free portfolio, assuming it as their corporate social responsibility (CSR) or owing to some fear of future loss arising from the ban on environment-hampering companies that might not be following the environmental, social, and governance (ESG) requirements. Historically, we have seen a ban on Chinese products because of the issues of carbon emissions. Similarly, during SMOG, many brick kilns and iron foundries are closed in Pakistan every year. The carbon budgeting on the portfolio can help achieve the CSR and sustainability goals of investors. The study attempts to develop a portfolio based on historical data, which could yield optimum results while remaining carbon conscious. The study aims to find the best-performing portfolio that could be more ESG compliant and may achieve CSR objectives to protect the environment and investors’ interests simultaneously. The findings show that companies segregated based on carbon footprint can create a carbon-free portfolio (approximately 25%) without a material impact on the expected risk and return profile. To be more ESG compliant, an investor can compromise slightly on returns, that is, only compromising 3% of the profit, we can maintain a 50% compliant portfolio in Pakistan’s environment. The study tries to improve the understanding of regulatory requirements but would also help us gain the confidence of investors who are keen to see carbon-free portfolios or in other words want to ensure investments in environmentally friendly industries.

A Stakeholder-Specific View on Impact Sourcing—Systematic Literature Review and Recommendations for Future Research

Impact Sourcing is the outsourcing of activities to disadvantaged social groups in order to help them become participants of the globalized digital world and thus benefit from higher incomes and wealth creation. Firms started using this approach in the early 2010s to contribute to their Corporate Social Responsibility goals. Empirical, mainly qualitative, research in the form of case studies has documented the achieved advantages and challenges faced. Our paper provides a systematic literature review of these studies. It consolidates the extant research findings along five involved stakeholder groups—impact sourcing providers, involved employees, their social communities, the outsourcing clients, and the government—and identifies avenues for future research.

Towards sustainable environment: Unleashing the mechanism between green finance and corporate social responsibility

Environmental and socio-economic activities are vital to achieving sustainable growth. Corporate social responsibility (CSR) originated to achieve social equilibrium via the sustainable performance of organizations. Nevertheless, corporations require ample resources to cope with the concepts of CSR and sustainability. Accordingly, the present research analyses the function of green financing, which encompasses the economic, social, and environmental practices for accomplishing and developing CSR goals in the automobile industry. Using questionnaire survey and structural equation modelling, this study's data supports the contribution of green finance and its associated practices (economic ( β = 0.248***, 0.239**, 0.312***, 0.125**, 0.549***), social ( β = 0.343***, 0.147**, 0.458***, 0.593***, 0.257***), and environmental practices ( β = 0.487***, 0.164**, 0.238**, 0.043*, 0.126**)) to the enhancement of CSR's implications. Research findings suggest that organizations should devote more monetary resources to enhancing CSR traits. Future research directions are also discussed at the end of study.