In the competitive business environment, corporate social responsibility is the recognized concept in various parts of the world. Many companies have identified the corporate social responsibility as the source of improving their competitive advantage over other companies. A large number of companies have established policies related to the health and safety, consumer policy, anti discrimination and community relations (Kanwal et al., 2013). However, the accomplishment of corporate social responsibility enhances the performance of the company in future. The significant performance of the company helps to maintain its stability and market share over its competitors as it directly affects the shareholders wealth in the market (Mujahid & Abdullah, 2014). The objective of this research study is to identify the impact of corporate social responsibility on the company's performance. Through the analysis of this report, researcher will get a deep insight about how to implement the CSR activities in order to increase the productivity and profitability of an organization which can be further applied by many organizations. Therefore, it is very important to examine this major corporate issue because it also affects the society as a whole (Servaes & Tamayo, 2012).
This research report aims to analyze the influence of corporate social responsibility on the performance of the company. The main objectives of this research are as follows:
The hypothesis developed in this research is as follows:
H1: Corporate social responsibility has a positive impact on the company's financial performance.
H0: Corporate social responsibility has a negative impact on the financial performance of the company.
In this research study, the company's performance will be a dependent variable while customer satisfaction and corporate social responsibility are the two independent variables which impact the company's performance. Hence, these independent variables directly affect the dependent variable.
According to Wang (2015), corporate social responsibility in many organizations is referred to as the corporate citizenship and responsibility towards the society or the business ethics. A CSR activity improves and explores the firm's responsibility towards the society's interest which represents the integral part of the organization. Traditionally, there are various types of responsibilities in the CSR activities including legal, ethical and economic. In addition, the author has studied the earlier researches related to this area of issue, including the social requirement and market driven strategy by an organization in CSR activities. The author has also determined the corporate social dependability in the view of individual, organizational and societal (SU & Xiao-Wen, 2015).
According to Rumaysa (2014), corporate social responsibility has a positive impact towards the employees. The author has identified that the CSR activities does not only include the economic activities but it also involves the environmental and social responsibility towards the society and all the stakeholders at a large. However, the author has also focus on the organizational practices and its effectiveness towards the employees of the companies so as to understand and evaluate their rights and responsibilities which encourage them to include the CSR activities as the part of their company's policies (Suhaimi, 2014). The responsibility of the company engages itself in the protection of the environment, community relations and the increased performance across the country over their competitors (Babatunde & Ahmed, 2015).
Research methodology is the systematic analysis of principles or procedures associated with any discipline of the research study. This research study has been done to analyze the influence of corporate social responsibility on the performance of company. Basically, there are two approaches of collecting and analyzing data in the research study i.e. qualitative and quantitative research (Kaur, 2015).
Research design involves the process and techniques used to collect the data for research and the evaluation of findings and conclusion. On the basis of qualitative and quantitative research paradigm, both sources of the primary and secondary data will be used in this study. The primary data will be collected in the form of survey method through interview and questionnaire while, literature review will be done in the form of secondary source of data. The previous literatures and theories in relation to this topic will be analyzed. It includes views of different authors in the already published articles, reports, literatures, books, and theories, etc.
The sample size of 50 people will be taken into consideration. It includes the top management of 10 large organizations in Australia. The respondents will be comprises of both the male and female members equally to avoid the biasness. These respondents will be selected through convenience sampling technique, which is a part of non probabilistic sampling. This method of sampling technique has been chosen in order to gain easy access among the people of top management in an organization. Hence, the questionnaire designed for this research study will be comprised of 20 questions (including demographic questions).
This research study includes both demographic and descriptive questions. The data collected through primary and secondary sources will be analyzed on the basis of statistics and thereby it will be represented in the form of tables and graphs. Further, hypotheses testing will be conducted will the help of t-test. This method of analyzing the data will enable the researcher to conduct the study within the framework of both the qualitative and quantitative research. This technique of data analysis will be convenient for the researcher to represent the several responses related to this issue (Long-Sutehall et al., 2010).
Based on the data analysis and discussion, impact of corporate social responsibility on the company's performance will be briefly described in this section. The potential problems and challenges to this issue will be discussed under this part of the report. In addition, further recommendation will also be provided with regard to the improvement of company's performance in relation to the implementation of corporate social responsibility.
According to me, the implementation of CSR activities in an organization will greatly improve its performance and efficiency in the market. With the adoption of corporate social responsibility, shareholders value is also likely to be increased with the enhancement in the employees' productivity. Therefore, it expected that through an application of corporate social responsibility, organization will improve its financial performance and thereby it also helps to increase its market share over its competitors.
Babatunde, Y. & Ahmed, M., 2015. Corporate Social Responsibility And Company Performance. Journal of Business Studies Quarterly, 7(1), pp.151-66.
Kanwal, M., Khanam, F., Nasreen, S. & Hameed, S., 2013. Impact of corporate social responsibility on the firm’s financial performance. IOSR Journal of Business and Management, 14(5), pp.67-74.
Kaur, J., 2015. Techniques Used in Hypothesis Testing in Research Methodology – A Review. International Journal of Science and Research, 4(5), pp.362-65.
Long-Sutehall, T., Sque, M. & Addington-Hall, J., 2010. Secondary analysis of qualitative data: a valuablemethod for exploringsensitive issues with anelusive population? Journal of Research in Nursing, 16(4), pp.335–44.
Mujahid, M. & Abdullah, A., 2014. Impact of Corporate Social Responsibility on Firms Financial Performance and Shareholders wealth. European Journal of Business and Management, 6(31), pp.181-88.
Servaes, H. & Tamayo, A., 2012. The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness.
Suhaimi, R.N.M., 2014. Corporate Social Responsibility towards Employees. International Journal of Accounting and Business Management, 2(1), pp.134-41.SU, R.-J. & Xiao-Wen, J., 2015. Literature Review on Corporate Social Responsibility. In International Conference on Management Engineering and Management Innovation., 2015.
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