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MSIN0018 Business Research Methods

tag 1 Download 0 Pages / 0 Words tag 21-06-2022
  • Course Code: MSIN0018
  • University: University College London
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  • Country: United Kingdom

Answer:

Introduction

This research study outlines about the CSR policy for the organization. This research study includes various secondary data that can determine the social responsibilities of the organization in an effective manner. In present time, every organization is contributing in social and economic development of the societies in which they are operating their business activities. In this concern, secondary data are used to enhance the understanding about research issues.

Research Title

The title of this research is “Should consumer care a lot about companies ‘CSR’ policy”. This research will focus on evaluating the importance of CSR policy for companies and for the society.

Hypothesis

Below are hypothesis statements that would be considered while conducting this research study and evaluating its findings:

Hypothesis 1: Should consumer care a lot about companies ‘CSR’ policy.

Hypothesis 2: ‘CSR’ policy of the companies should not care a lot about consumer care.

Background/Secondary Research

Kitzmueller and Shimshack (2012) define corporate social responsibility (CSR) as the business practice that includes initiatives that are beneficial for the society. It can be called as the principle that should be contributed by the companies in order to provide welfare of the society. The corporate social responsibility can also be called as a concept where the company should not fulfill its own interest but should also fulfill the needs of the stakeholders like workers, customers, suppliers, and local communities. Saeidi, et al., (2014) argue about the benefit of corporate social responsibility in the company, which includes satisfaction of the employees and customer satisfaction. CSR help in improving the attitude of the customer’s towards the company. Moreover, there can be reduction in the cost with the help of CSR program. It is also beneficial for the long-term future of the business. With the help of CSR activities, the company can clearly influence the products quality and credibility.

According to Trapp (2014), CSR also benefits the society as it helps the people to improve their quality of life as well as their habits. It provides the clean and green environment and is helpful in building up the reputation as the business responsibility as well as a good citizen. The standard of living can be changed by CSR activities as it helps in developing the skills.  Schaltegger, et al., (2012) argue about the focus of the company as it should focus on the environment, which includes the consumers, employees, and suppliers in which it operates. The company should also focus on the products quantity, which is delivered to the customers. The delivery of the product should be fair for all the customers.

The company should take care of the CSR’s policy suggested by Hiller (2013) as it used as the recruiting tool. It is helpful for the company to increase its bottom line as making of money. It is essential for the companies to take care of the CSR’s policy while ignoring it, can lead to the trouble like mass corruption or frauds in accounting. Brammer, et al., (2012) examine the CSR for the development of the overall market performance.  It also helps in performing business opportunities and developing the products and services. The CSR can make the company more competitive and ignore the damages. It also helps in assigning the role for the business as well as the businesses.

Research Methodology

Research Approach

A research approach is a useful tool for providing an exact data that is related to the different tools and techniques that are helpful for the researcher to achieve its objectives. It consists of two type’s approach that is the deductive and the inductive approach. This research is based on the deductive approach because it concerns in developing and testing the hypothesis, which is based on the existing theory.

Data Collection Method

Data collection method is the process that plays an important role in the research methodology, as it is helpful for the researcher for collecting the appropriate data from different resources for achieving the research objective. There are two types of data collection method that is primary data and secondary data. Primary data is being used by the researcher in order to collect the fresh data. It is collected with the help of online survey method hence, the researcher uses interview method for collecting the exact data (Englander, 2012). It also takes into consideration the secondary data from different sources like a journal, books as well as from the articles. This method is less expensive as compare to primary data. In this research, with the help of these methods the past and existing data can be compared by the researcher for the CSR’s policy essential for the society as well as in the company. With the help of secondary data, the researcher has also identified the benefits of CSR activities in the company as well as in the society.

Sampling Procedure

It is the procedure, by which the participants are selected from the population for collecting the desired data for the research. It consists of two types of sampling method that is probability and non-probability method. In Probability method equal chance is given to the participants and it is helpful for the researcher to remove the biases but, process control is difficult. On the other hand, a non-probability method is less expensive than probability sampling method but, the biases is involved in selecting the sample size. In this research study, non-sampling techniques are used by the researcher in, which the random selection is not involved (Jo and Harjoto, 2012). This research conducts the interview of 23 participants and with the help of interview, it is easy to collect information about the care of the consumer towards the CSR’s policy. 

Results and discussion

Question 1:

The above graph is presenting that many of the research participants don’t know that what CSR is. There are 12 participants who about the CSR and its benefits, but 9 participants don’t know about CSR. It denotes that there is a need to increase the awareness in companies about the CSR policy because it leads to consumer care a lot.

Question 2:

The above graph is presenting that there are different participants of different age groups. These different age group participants are helpful in collecting effective data about the research issues. In this research study, most of the participants are between 18 to 25 years who have knowledge about company’s CSR policy. Moreover, 2 participants are over 25 years who have provided their opinions on experience base in different organization.

Question 3:

The above table is depicting that more than 90 percent despondences are students and 2 despondences are working in any company. Therefore, it is observed that obtained data are based on study of books, case studies and other secondary data. It is because most of the research participants have not any professional experience.

Question 4:

In the collected data, it is found that 13 respondents think that CSR policy is beneficial for the society but 3 respondents opinioned that it is not beneficial for the society in concern to consumer care. In addition, 6 participants opinioned they are not confirmed that CSR policy is beneficial or not for the society.

Question 5:

From the collected data it is observed that more than 72 percent research participants think that CSR is beneficial for a company and only 9 percent participants think that it cannot bring any benefit for a company. Other 18 percent participants are not sure about this perception and not given their opinion on organizational benefits of CSR. It indicates that the organizations should use their own CSR policy to get the benefits of image through social and economic development of the communities in which they are operating business activities.

Question 6:

The above graph is presenting that 10 participants think that many of the companies have their CSR policy to make sure their active compliance with including ethical standards, spirit of law and different national and international norms. On the other hand, 5 participants think that companies have not CSR policies to provide the benefits to the society. As well as, 7 participants are not sure that companies have their CSR policy for social and economic development.

Question 7:

The above graph and table is presenting that different participants have different opinions on CSR policy. The table is presenting that most of the participants opinioned that the companies should focus on environment and quantity of the product in their CSR policy. On the other hand, 4 participants think that the companies should focus on profit in implementation of their CSR policy. In addition, it is observed that 4 participants are focusing on company’s culture and integrity management in the implementation of CSR policy. As a result, it is observed that the companies should focus mainly on environment and quantity of product in their CSR policy which may lead to a successful and effective social development in the society.

Question 8:

From the collected data it is found that more than 70 percent research participants opinioned that CSR is an important element for the development of a firm but approximately 27 participants opinioned that CSR has not much importance in the development of a firm. Here, positive responses are presenting majority, therefore it is analyzed that CSR is an important element for the development of a firm.

Question 9:

The above diagram is presenting that more than 63 percent participants opinioned that they care about company’s CSR policy and only 9 percent participants not care about company’s CSR policy. In addition, 27 percent participants are not sure about this perception and not gave any opinion.

Conclusion

From the above discussion and survey, it can be concluded that CSR policy is an important element for the organizations to set measurable targets and performance management. Furthermore, it can be concluded that company’s CSR policies focus on social, economic and environmental development in which they operating their business activities. This policy will be helpful in development the performance and create a good image of the company in society.

Recommendations for further research

For further research it is recommended that the researcher should increase the sample size which will improve the reliability and effectiveness of the research study. Moreover the researcher would use more authentic secondary resources that will be helpful in increasing the authenticity of the collected data.

References

Brammer, S., Jackson, G. and Matten, D. (2012) Corporate social responsibility and institutional theory: New perspectives on private governance. Socio-economic review, 10(1), pp.3-28.

Englander, M. (2012) The interview: Data collection in descriptive phenomenological human scientific research. Journal of Phenomenological Psychology, 43(1), pp.13-35.

Hiller, J.S. (2013) The benefit corporation and corporate social responsibility. Journal of Business Ethics, 118(2), pp.287-301.

Jiraporn, P., Jiraporn, N., Boeprasert, A. and Chang, K. (2014) Does corporate social responsibility (CSR) improve credit ratings? Evidence from geographic identification. Financial Management, 43(3), pp.505-531.

Jo, H. and Harjoto, M.A. (2012) The causal effect of corporate governance on corporate social responsibility. Journal of business ethics, 106(1), pp.53-72.

Kitzmueller, M. and Shimshack, J. (2012) Economic perspectives on corporate social responsibility. Journal of Economic Literature, 50(1), pp.51-84.

Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A. (2015) How does corporate social responsibility contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction. Journal of Business Research, 68(2), pp.341-350.

Schaltegger, S., Lüdeke-Freund, F. and Hansen, E.G. (2012) Business cases for sustainability: the role of business model innovation for corporate sustainability. International Journal of Innovation and Sustainable Development, 6(2), pp.95-119.

Trapp, N.L. (2014) Stakeholder involvement in CSR strategy-making? Clues from sixteen Danish companies. Public Relations Review, 40(1), pp.42-49.

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