The concept of corporate social responsibility (CSR) Thesis

The concept of corporate social responsibility (CSR) - Thesis Example Aims and Objectives of the Research Acknowledging the vital role of CSR in the present global economic market, this research intends †¢ To analyze corporate social responsibility †¢ To analyze the impact of CSR to companies in the banking and pharmaceutical sectors of Australia †¢ To evaluate the CSR performance of some banking and pharmaceutical organizations in Australia †¢ To conduct a comparative study of CSR performance of some companies in the banking and pharmaceutical sectors of Australia †¢ To examine the relationship of the CSR performance vis-a-vis the financial performance of the companies †¢ To determine the continued relevance of CSR in the 21st century This research is significant in the face of the controversies surrounding CSR after the Enron, Exxon, BP Shell, and other similar events. Likewise, the research is necessary, as it will provide a conceptual analysis of CSR with the context of the several criticisms in CSR. This is significan t based on the idea that CSR should be given a re-look as it has been used to conceal illicit activities (Lin-Hi, 2009). Moreover, it will help in providing a better understanding of the relationship between CSR and the organization by learning how does CSR contribute both to the growth of the corporations and to the good of the society. Finally, the research is crucial, as it will shed light to the issue whether CSR is still appropriate for the global economic market or there is already a need for a new paradigm (Karnani, 2010; Ries et al, 2005). Research Question This study has one vital problem â€Å"Is there still relevance for CSR in the 21st Century?† In order to address this question, the researcher will be addressing three key sub-questions. These are 1. What is the... This study has one vital problem â€Å"Is there still relevance for CSR in the 21st Century?† In order to address this question, the researcher will be addressing three key sub-questions. These are: 1. What is the nature of CSR? 2. How does CSR shape or influence the importance of an organization? 3. What is the relationship between CSR and CFP? Corporate Social Responsibility (CSR) is an integral part of organizations in the modern era (Hemingway, 2002). It re-affirms the notion that organizations are not removed from the reality of the society where they are incorporated (Crane et al, 2008). Instead, it shows the fact that people have seemed modern organizations as actors in society and as such, are responsible to all the identified stakeholders of the company (Orliztsky, Seigle and Waldman, 2011). In this framework, the literature review will look into the factors that have contributed to the misgivings regarding CSR, the status of the current debates regarding the ‘g oods’ derived from CSR, and the common understanding of CSR. This is important, as it will help clarify any conceptual ambiguities that may be inherent in the concept of CSR, and at the same time, guides in the understanding of CSR within the context of the 21st century â€Å"Great Destruction†. This conceptual clarification will assist in evaluating and determining not only the relationship of CSR with the financial performance and social performance of the organizations, but it will assist in the determination of the continued relevance of CSR in the 21st century.