Business activity which contribute for the society is known as the corporate social responsibility (CSR). These have to be followed by the industry. The main aim of a particular organization is to render some benefits to the society and helps in managing economy of the country. This can be achieved by an effective implementation of CSR in business organization. These activities support in improvement of economic condition, environment and social welfare. Also, the stakeholders of a company are managed by an efficient CSR activities and policies which results in increased profits. Organisation have to give some percentage of profits to the society for overall development. It can be noted that compliance with the CSR regulations leads to the impressive promotion of a business concern. For this purpose, the research has been conducted. In this data have been collected by using two different methods which can be characterised as primary and secondary method. This will assist in analysing the CSR activity of the company. This shows what type of activity of CSR should be performed in the organisation. By research the environment and company, both will get benefits, because by research, company will able to know effective activity of the CSR. This will support in growth of the firm. This is responsibility of all business entities to implement CSR in their operations.
The research has been conducted on corporate social responsibility. This have to be fulfilled by every company. The management of the company realises some responsibilities towards the economic environment and social culture. For getting the advantages in terms of growth and promotion, this investigation is very important. In this work, information will be gathered regarding India and Sweden company's. Both Countries have their own CSR polices which companies have to follow. This will give effect on environment but that will be having difference in both nations. Performance motivation is an important aspect in this regard. The motivation can be in terms of profit which business will generate by performing the activities in environment. There are some major challenges that are faced by an organisation like selecting the effective activity of CSR according to strategy along with better engagement of stakeholders with management of the business organization. This will also help in reducing the risk of reputation in the market because it leads to promotion of the business concern in the society. So they have decided to make a research on CSR activity as this will make effective growth of the firm. There are some skills which are required in making investigation like collection, comparing and analysing data in the effectual way.
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The rationale of this research proposal is to evaluate the effects of implementing the CSR activities in company of two countries. CSR activity performed for benefits of the organisation and society. When this action gets perform that will help in making profit for business by the promotion. It supports in making good brand name of company. It will help in fulfilment the requirements of the society. This will make the impressive CSR activity.
Aims and objectives
The research has conducted to find out the impact of the corporate social responsibility on company. This have been done on the two countries companies. Research objective have to be define while preparing for investment. The aims and objectives are back bone of the research because this will give the direction to perform activity. There are following aims and objectives:
- The impact of corporate social responsibility on performance of organisation.
- To evaluate the way in which CSR leads to success of company
- To Find out the methods by which organisation can perform CSR effectively
- To assess the benefits of CSR in organisation.
- To evaluate the effect of CSR applied in India and Sweden.
Aim and objectives has been defined on CSR. Analysing the impact of CSR on company’s performance. For finding the challenges in investigation research questions have to be prepared.
- Q. In what ways CSR can lead a company towards success?
- Q. Finding the Best method of CSR activity?
- Q. Analysing benefits of CSR activity?
- Q. What is the effect of CSR in India and Sweden?
Analysing and framework
In 1960 the corporate social responsibility has been introduced. In this, organisation have to take care of their stakeholders and engage with them. The stakeholders are those people who affects the business activity like employees, suppliers, and customer. In this CSR programmes they have to take care of health and safety issues but also focuses on the environmental and ethical matters. For an instance, Nike is one of the famous brand name in the market, but, they are not performing well in respect to their responsibilities towards society. Due to this, their brand name and personality got disturbed. This will give impact on their performance. In Sweden all most all the companies are performing the CSR because they believe that they will get advantage in making competition in market. Atlas Copco is a company which is working in accordance with Corporate social responsibility because they believe this is effective opportunity for growth of the business.
In present time period the companies are responsible for their activity and operation which affects the society. Now days the companies are making their long term objectives and goals and for that managers and leaders of a business organization has to comply by the CSR policies and norms. In aspect of the cited organization, the manager is desirous of implementing the CSR activities which lead them in the prevailing market industry. There are so many theories which need some focus. Finding the important factors and drivers which will give effect on companies. It is important because this will assist in making the success of business and performance of industry will get improved. By this the company will able to get brand layout and brand awareness. This will improve the financial performance of business organisation this is conducting for making the future development of CSR activity.
This research has been conducted for analysing of factors and drivers of corporate social responsibility. This will give a positive impact on the organisation performance. For this purpose, there are specified process for conducting research. In this aim and objectives have to be set. Then according to that questions have to be ready. On that questions research have been conducted. CSR needs to be implemented in the organization as it realises the duty of leaders and higher management to work for the betterment of the society.
By this research some data have been generated. Converting that data in to the information then Analysing that information will assist in making the selection of the CSR activity which will help in making the effectual profit for the company. Factors which affect the organisation function and drivers which will be analysed. This will support in making the effective CSR activity in the industry.
Aims and Objective
In this research aims and objective have been defined for analysing the factors of CSR activity this will give impact on organisation performance. There are so many derives which have been used in this activities. These have to been set for the performing of the effective CSR activity in organisation. There are difference in between aims and objectives. The objective will show the specified target. Finding that, how CSR will assist in making the success of the company by using best method for CSR activity.
Evaluate the way in which CSR leads to success of company
Organisation have to perform CSR activity. This will give benefits to company and society. This activity can be performed and improved by some methods. According to the seitel (2001) organisation have to develop some major ethics these are as follows:
Increase public confidence: In regard to performance of an organisation there are so many scandals and challenges which have to be faced in the business. For managing these firms Company have to adopt the CSR activity. This will help in making the effective management of performance. Also, by effective implementation of CSR activities, the cited company can also earn the public confidence which will increase public confidence.
Fulfilling Rights and obligations: There are so many companies which are losing trust of customer in market. For this they have to follow all the rules and regulations that have been made by government. This will help in making faith in customers which will support in making effective growth of industry. It is considered as the important aspect of CSR.
Improve internal regulation: In development of manufacturing unit they have to make the effective relation with employees. For this the manager have to identify the code of conduct which is made by owner of company. This will help in making effective growth of the company.
Gathering the awareness of corporate ethical, social and environmental behaviour of stakeholders. This have to analysis in the organisation for CSR activity. These will help in making the effective development firm. These divers have to be investigated because in selection of CSR activity they will give some impact. Basically these will be impacting the company performance. These are the factor that have to be analysis. For an example In India Mahindra and Mahindra Ltd and in Sweden Electrolux are following this CSR activity because of this, they get success in the market.
The methods by which organisation can perform CSR effectively
For making the effective CSR activity, same methods are used by companies these are as follows:
- Practice transparency
- Making suitable purchasing decisions
- Paying more active role in community
- Support the local community
- Encourage innovation
- Understanding that CSR come fromTop
For example Tata steel Ltd and Ikea are using these method for performing CSR activity.
Assessing the benefits of CSR in organisation
CSR activity give benefits to organisation and society. These benefits have to be identify effective to prepare planning. These will be the advantage of this activity. Reward for making the CSR activity in the organisation these are as follows:
- Effective brand recognisance
- Business reputation will be positive
- Making the customer loyalty and increase the sale
- Save the operation cost
- Financial performance will get better
- Growth of organisation
- Help in making easier access to capital
These are some major benefits which will give by the corporate social responsibility (CSR). By this activity the performance of organisation will get effective and customer will get trust on brand then this will make effective brand image of company. This will give impact on the sale of organisation and reduce the risk of company. In organisation manger have to take care of the stakeholder this is a policy of Sweden. The main stakeholders are employees, suppler, shareholders and customer. Companies have to provide some safety and security to them because without them no company can performer the work. So they have to manage them in organisation. For that there are so rules and regulation that have to perform in the organisation.
Evaluate the effect of CSR applied in India and Sweden
India is having more then 11 lac companies registered, out of them only 14,500 are performing the CSR activities. For this government has made some policy, that every company have to spend their 2% from revenues on CSR. This will encourage the CSR activity in country. Sweden does not consist of much business organization, but most of the corporation work in pursuance of CSR polices and regulations. Their policy is to make the effective and healthy relation with the stakeholders and some charges which are required to be paid when business concern make the discrimination. These roles will give the effective impact on firms and society of both countries.
Eberstadt (1977) has claimed that corporate social responsibility (CSR) is a traditional approach which has been started by the 2000 year before. This activity has been started from 18th century. This have been made for the labour force. Adam Smith was the first man how have invented the economic model this will help in making the effective development in the corporate society and assist in managing the financial resource of the company. But, the Sims claim that this CSR activity have been organised and get development in 20th century. Before the 20th century there was no effective work by company on the corporate social responsibility. That time meaning of CSR was charity. In traditional time period only charity have been done as the CSR activity. But now day there are so many function that have to perform along with the charity in CSR activity. The second principle is the standard making by this performance will be evaluate in the organisation. This have some obligation to performing in an organisation these responsibility are related to safety and security of stakeholders. There is some other duty toward society which have to perform by company. This will make effective sale in the market. The third principle say that company have to fallow the policy which is made by the government.
Phatak, Bhagat and kashlak (2005), has defined the business ethics. They have defined moral values according to this company have to make organisation performance. The managers of the cited company have shown the motive of this CSR activity in the organisation. They have also defined the consequences of the decisions and action. They have to guide standard and principles of an organisation by analysing these ethics. Companies are making the effective CSR activity in firm and they have decided make the CSR as the vital role for every companies. This will assist in making effective performance of organisation. Companies has shown the society expectation which have been defined by this business will get influence in their activity. Jackson defined three level of ethics Which is based on responsibility of organisation because this will also affect the business.
Wood (1991) has defined the three major principles of drivers. In the first they have talk about the obligation of power which is used in the organisation. Second level say responsibility organisation Third level show Decisions and experiences which should be used in effective manner. Panwar say that drives give the impact on the company performance. This will assist in making the effective development of the firm.
Eberstadt say that this Approach comes in traditional time period of 18th country but development and use of CSR have become effective in 20th country. There are different types of principles is defined in that literature review by Sims. According to Phatak, Bhagat and kashalk there are so many factors which have to be managed. Drivers have divided in two major part, said by Hopkins. Jackson defined the current time period CSR activity which has to be performed So the companies analyse the factors and drivers which will help in making the effective CSR activity given by Wood.
Theory Development and Hypotheses Formulation
Research is a process to find out something new and innovative things which helps to achieve goals and objectives of the project. There are some beliefs and facts such as collected data and information should be accurate, reliable and authentic in the nature. The research team should follow rules and regulations that was decided by the researcher. If company is not working according the norms and ethics, then society will not accept that particular organisation. All companies are working for earn profits as well as society’s welfare. (Mishra and Suar, 2010) It helps to provide various services and facilities to personal. CSR activities and programmes assist for develop healthy environment, also increases standard of living. Hypotheses is the procedure which based on past evidence. On this basis, analysis of collecting data and information of research project is done. It is best method or techniques that aid to take better decision. This is totally based on statistical and mathematical term by which it becomes easy to compare past evidence to actual collected result. There are involving two types of variables dependent and another one is independent. Depended covariant are correlated by each other's These are based on outcomes of research. That's why variables are changed according to the result and information, then researcher can take corrective action in the effective manner. Independent variables refer to these are not changed on the basis of project outcomes.
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CSR activities and programmes are conducted by the sustainable companies like state working in Sweden for society development. The main purpose is to inspire companies to create and improvement, promoting use of these practices and maintain strong relation of CSR Europe and the NPO network. The mission is sustainable business by focusing on CSR which aid to develop society as well as personal development. Its help to reach profitability and growth of the country. Example: ICA is the retail company in Sweden that leading on foods and meals. It is also working for profit and set ethical standards, focusing on food quality and promoting healthy lifestyle. On the other hand, CSR is operate in India as companies take raw materials, human resources and so more from the society by completing the task and targets of CSR practices the business are giving back something to them. It came effect on 1st April 2014 that only applicable on specific companies such as net worth of the business is Rs. 500Cr or more, turnover is Rs. 1000Cr or more and net profit Rs. 5Cr or more. The policy of CSR is, by the company have to invest at least 2% from net profit that assist in eliminate hunger and poverty, providing education, promoting gender equality, empowering women and reducing child mortality from the state. For Example: Mahindra and Mahindra Ltd. working for society's development and according to that CSR is not just a duty for all enterprise this is the way of life that help to provide various kind of facilities. In this country Prime Minister's national relief fund and others set by the central government for socio development and healthy environment.
Research related problems and issues are formulated in the tabular form by which understand easily and effectively manner. While research were facing various difficulties that may be impacting on project in the negative or positive way. In this research using qualitative method by which there are using various strategies to collect actual and reliable information. such as survey, interview and so more. In these methods researchers and customers are interact with each other and share views/ ideas on the basis of their experience and knowledge about that particular research project. Qualitative method based on quality of outcomes and research result (KimPark and Wier, 2012). Its help to take better and appropriate decision regarding any situation that assists to resolve problems and issues. There are two types of Hypotheses such as null hypotheses refers it’s not depended on any phenomena of research outcomes. On the other hand, alternative hypotheses is the same of null hypotheses but it take various form those are depending on each other's These methods are providing a systematic direction to understand and compare actual result to standard information. Variables are uncertain in the nature, that are changes according to the research and their outcomes. Hypotheses is applicable on CSR research project in the systematic way. CSR activities and curriculum are working in Sweden and India. Its is aid to measure the respect of human rights, improving working environment, removing corruption, eliminate hunger and poverty, discrimination and so more. Hypotheses is based on past evidence of CSR practices by which easy to find out past working quality and lack of points as well as recent activities performance and society's developments programmes. (Bear,Rahman and Post, 2010).