Question

How can a business impact internal stakeholders such as share holders and how can this positively or negatively effect CSR?

Answer 1

iiCompanies iiare iiincreasingly iiramping iiup iitheir iifocus iion iisocial iiresponsibility, iiwhether iiits iichampioning iiwomen’s iirights, iiprotecting iithe iienvironment, iior iiattempting iito iiobliterate iipoverty, iion iilocal, iinational, iior iiglobal iilevels. iiFrom iian iioptics iiperspective, iisocially iiresponsible iicompanies iiproject iimore iiattractive iiimages iito iiboth iiconsumers iiand iishareholders iialike, iiwhich iiserves iito iipositively iiaffect iitheir iibottom iilines.

· Being iia iisocially iiresponsible iicompany iican iibolster iia iicompany's iiimage iiand iibuild iiits iibrand.

Customers iiMatter

Embracing iisocially iiresponsible iipolicies iigoes iia iilong iiway iitowards iiattracting iiand iiretaining iicustomers, iiwhich iiis iiessential iito iia iicompany’s iilong-term iisuccess. iiFurthermore, iimany iiindividuals iiwill iigladly iipay iia iipremium iifor iigoods, iiknowing iithat iipart iiof iithe iiprofits iiwill iibe iichanneled iitowards iisocial iicauses iinear iiand iidear iito iithem

Other iiKey iiPractices

Socially iiresponsible iicompanies iitend iito iiattract iiemployees iiwho iiare iieager iito iimake iia iidifference iiin iithe iiworld—in iiaddition iito iisimply iicollecting iia iipaycheck.

Corporate iisocial iiresponsibility ii(CSR) iican iicontribute iito iithe iitriple iibottom iiline iiof iieconomic, iisocial iiand iienvironmental iiperformance iiin iiorganizations. iiHowever, iithe iirelationship iibetween iiCSR, iiemployee iihealth iiand iiwell-being iihas iinot iibeen iifrequently iiassessed iidespite iian iiincreased iiawareness iithat iithis iirelationship iican iicontribute iito iisustainable iiworkplaces. iiThere iiwas iino iiclarity iiin iithe iimeasurement iiof iieither iiinternal iiCSR iior iithe iiextent iito iiwhich iiit iiaffected iiemployee iioutcomes. iiThere iiis iia iineed iifor iiconsensus iion iimeasurement iiof iiinternal iiCSR iiand iiof iithe iihealth iiand iiwell-being-related iioutcomes. iiPublic iihealth iiand iioccupational iihealth iiresearchers iishould iibe iipart iiof iithe iidiscussion iion iithe iipotential iirole iiof iiCSR iiin iiphysical iiand iipsychological iihealth iioutcomes iibeyond iijob iisatisfaction.

The iistakeholders iiyou iidecide iito iiengage iiwith iiwill iivary iidepending iion iithe iistructure iiof iiyour iibetween. It iimay iibe iitempting iifor iicompanies iito iithink ii“Why iibother?” iiBut iiwhat iithey iishould iibe iithinking iiis ii“What iiwill iihappen iiif iiwe iidon’t iiengage?”,.

iengagement iiprovides iithree iikey iibenefits:

· iIt iiBuilds iiSocial iiCapital ii- iiSocial iicapital iiis iidefined iiby iithe iiOffice iifor iiEconomic iiCo-operation iiand iiDevelopment iias ii“networks iitogether iiwith iishared iinorms, iivalues iiand iiunderstandings iithat iifacilitate iico-operation iiwithin iior iiamong iigroups”. iiIn iitoday’s iiworld, iisocial iicapital iishould iibe iiconsidered iiat iileast iias iiimportant iias iifixed iiassets iias iibenefits iiinclude iigreater iiaccess iito iiinformation, iiimproved iiinfluence iiand iithe iibenefit iiof iisupport iirather iithan iiscrutiny iishould iiunexpected iiproblems iiarise.

· iiRisk iiReduction ii- iiIn iia iisociety iiwhere iiglobal iicommunication iitakes iiplace iiat iithe iipush iiof iia iibutton; iistakeholder iiengagement iican iiprovide iian iiearly iiwarning iisignal iifor iipotential iirisks iisuch iias iiapprehension iiregarding iiproducts iiand iisocial iiand iienvironmental iiimpacts.

This iiis iiextremely iivaluable iiwhen iievaluating iithe iioptions iiavailable iifor iiCSR iireporting.

The iiconcept iiof iicorporate iisocial iiresponsibility ii(CSR) iihas iibeen iiembedded iiacross iipsychological iiand iiphysical iifrontiers iiof iiorganizations iibuilding iiup iion iiphilanthropy, iiethics, iiregulation, iiand iieconomy. iiHowever, iithere iiis iia iilack iiof iiempirical iievidence iithat iihow iiCSR iigears iiup iivarious iiaspects iiof iian iiorganization. iiThe iistudy iihas iibeen iidesigned iito iiget iiresponses iithrough iia iistructured iiquestionnaire iito iianalyze iithe iidata iithrough iidescriptive iiand iiinferential iistatistical iitechniques. iiThree iimodels iiwere iideveloped iito iiunderstand iithe iiaforementioned iiphenomenon; iithe iifirst iimodel iiexamines iithe iiimpact iiof iibrand iireputation iion iibrand iiequity, iiand iithe iisecond iimodel iireassesses iithe iisame iirelationship iiwith iimoderating iirole iiof iiCSR, iiwhile iithe iithird iimodel iievaluates iithe iiassociations iiwith iieach iidimension iiof iiCSR. iiThe iiresults iiindicate iithat iibrand iireputation iiis iia iisignificant iipredictor iiof iibrand iiequity, iiand iiits iipredictive iipower iiboosts iiup iiin iithe iipresence iiof iiCSR iiactivities. iiIt iiwas iialso iiascertained iithat iiCSR iiinitiatives iirelated iito iiethics, iieconomy, iiand iiphilanthropy iiexpedite iithe iiprocess iiof iiconversion iifrom iibrand iireputation iito iibrand iiequity. iiThe iilegal iiaspect iiof iiCSR iiin iideveloping iieconomies iicould iinot iiprove iito iibe iifruitful iiin iithis iiparticular iicontext. iiThe iiresearch iiwould iiprovide iigreat iiinsight iito iithe iimanagers iiof iifast-food iiretail iichains iito iievaluate iiinvestments iifor iiCSR iiactivities iiin iiraising iiequity iiof iitheir iiorganizations.