TURNING CORPORATE SOCIAL RESPONSIBILITY INTO OPPORTUNITY

Turning corporate social responsibility into opportunity

Abstractiii

Introduction1

Statement of problem2

Research objective3

Hypothesis3

Literature review4

Corporate social responsibility4

Approach of stakeholder to corporate social responsibility4

Methodology8

Expected Results8

Possible limitation8

References9

Abstract

The concept of marketing redefined the assumption of obligation of management to stockholders, developing an idea among scholars and practitioners to grasp a marketing concept in which focus is the customer. Even though experiential research affirms the positive relationship among financial performance and corporate social performance of business, the characteristics and limitation that may affect the stakeholder orientation and business financial trend is unclear. This research is conducted to understand the way to value multiple stakeholders group that in result of their reaction and marketing result affecting performance of business. Corporate social responsibility was first emerged officially in the past fifty years along with different assumptions, theoretical viewpoints, and experiential techniques. Scholars around the globe from different discipline of academics evaluated the strategic execution of social responsibility of firms that include accounting, marketing, political science and management. As compared with previous studies the expected result will be significant positive impact on enhancing company efficiency. There are various limitations in collection of data. Continuous time series data is required to do the analysis. The major limitation is the availability of time series data. To overcome this situation data will be collected for listed companies only. Also equal sample size will be required for all companies used in the sample size. That could be another limitation for the study.

Chapter I

Introduction

The concept of marketing redefined the assumption of obligation of management to stockholders, developing an idea among scholars and practitioners to grasp a marketing concept in which focus is the customer. Later on, scholars of area of marketing widened their concept beyond the existing customer and competitor in which to include future needs of customer and society. Similarly the area of management also refined the concept of stakeholder which further redefined the concept of organization towards grouping of stakeholders and exerts that the aim of the organization is to maintain their interests. There is a relationship exists in stakeholder concept and developing market concepts, as in both concepts responsibility of the business is beyond the shareholder and affirms customers as one of the major stakeholder of the business. Marketers that adopt the concept of the stakeholder let the business focus on huge group of stakeholders that includes employees, supplier, regulators, local community and shareholders (Pantaleo & Pal, 2010, pp.7-10).

However, there is number of scholars that focus on the relationship model of stakeholder that argues on maintaining and developing strong relationships with various stakeholders. Companies engaging competitive, employee and customer viewpoint in their strategic planning, experiences increased marketing potentials and better competitive advantage. For instance, Vodacom the telecommunication company developed a new market by introducing cheapest mobile phones in five countries of Africa (Schwartz, 2011, pp.166-169).

The business press similarly focuses for including multiple stakeholders of the business in the strategic planning of the company. It is identified in the recently held survey that there is a role ...