Literature review

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Place of Study: University of Suffolk

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 Table of Contents

Literature review ................................................................................................... 3

Purposes of the literature review ........................................................................ 3
Corporate Social Responsibility - Literature review ...................................... 4
Conclusion ................................................................................................... 7
References ................................................................................................. 8
Literature review

Literature review is an essential component for any project or written work that
considers the author's critical approach to the topic that he proposes for discussion. Literature
review is often the written part of a project, referring to a specific topic such as equality between
women and men at work. This first presents the subject and presents the structure of the project
which will be the points of view to be debated. Such a component, such as literature review, is
quality and involvement from the editorial, this concerns an in-depth analysis of the paper that
will be presented.

Purposes of the literature review

This component of the academic work fulfills several functions. In the following rows,
these functions will be mentioned explaining their role in an academic work.

The first function that literary review performs is information. It is the idea or the main
ideas of the future work that will also be considered hypotheses for the subject of the paper.
This part of the information should also have a component to guide it, namely logic. The
hypotheses should be logically related to being easy to understand, and the work has a natural
structure. (Gray, 2018)

The second function is to mention the topic to be debated and the methods and tools that
will be used to discuss the future subject of the paper.

The third function looks at the theoretical part. Considering that we live in a world where
there are topics that have been debated, we need to analyze the theories that will help the author
to discuss the subject. (Instaneset, 2018).

Finally, another function that a literary review should have is to share the purpose of the
future work. It is either a work that is created for a personal purpose, to demonstrate certain
conceptions. Either it is a work with a professional purpose that brings either new theories for
a field or discusses the old theories and tries their application to today's world. ((Jabangwe,
2018).
 The contribution of literature review to an academic work is, as stated above, very
important. In the interreligious structure, the author of the article or paper will have to have
both the assumptions and the potential conclusions he wants to reach when the article arrives at
the end. What he intends to demonstrate in the paper must be mentioned from the outset and
some preliminary conclusions must be made. If the preliminary conclusions are reached, it
means that the article has respected both the research part and the part of reflection and exposure
of what has been investigated. Thus, there is a sense of the work on the subject that has been
enunciated from the beginning. Choosing a theme in a given field will also be a real benefit as
it will be possible to use sources from that field, authors, consecrated works, articles and more.

Corporate Social Responsibility - Literature review

The business world represents a place where giant companies and power disputes by
offering goods and services to obtain maximum profits. But a business does not just mean
investing and offering products, a business also means involvement in society, how it can be
tackled or resolved. The past few years have brought new concepts and new concepts in
business, concepts designed to help both companies and society. One of these concepts is called
corporate social responsibility. At first glance a complex term and it is not clear what its purpose
is. As the name tells him, it refers to corporations and how it interacts with society in a different
context, not just the classic one, supply demand. This paper aims to understand this concept,
how it appeared, in what context and how it is used. At the same time, it will be followed by
identifying advantages that are generated by corporate responsibility for both the company and
society. As a first hypothesis it can be said that corporate social responsibility represents a
marketing advantage for companies as well as the strategic opportunity to develop and remove
competition in that field for an indefinite period. (Anshen, M. (1980).

The emergence of this concept, according to many authors, is somewhere after the
Second World War. It was aimed at putting the issues of society on the table of big corporations
now. This concept has begun to be implemented because it has an impact on the sustainable
development of the business by engaging in certain societal issues such as environmental,
demographic, human rights and freedoms. Being a complex concept debated by many authors,
it has been associated with other names such as: corporate social marketing, community issues,
community development. What all these concepts have in common is the emphasis put on
development, both for corporations and for the environment they are part of. In fact, this is
logical, because even though this concept has been attributed to it several decades ago, it has
always existed. Corporations have always tried to create an environment conducive to the
smooth running of their business even though they have not been given a concrete name for
this.

Numerous authors such as Friedman, Porter, Kotler, well-known marketers have stated
in their articles and papers that this concept is advantageous for both parties involved, no one
loses, on the one hand for companies to bring profit and image capital, and the other side is
developing on all levels.

The literature of recent years shows that in the context of globalization and the reforming
of economies, the increase of the level of independence between states, the development of
corporations only on economic and developmental criteria is not always the best choice.
Employing the notion of corporate social responsibility is a sure way to success and
performance. Michael Porter, in one of his papers, argued that social responsibility is a priority
that cannot be avoided by corporations, both locally, internationally and even world-wide,
regardless of the field in which they operate. In fact, the involvement of economic entities is a
sustainable development project not only for the moment but also for the coming years.

Corporate social responsibility is a reality of the contemporary world and an opportunity

for development for the business environment. Coordinate the Corporate Social Responsibility
Corporate Social Responsibility represents a contribution made by the organization to the
development of society for certain well-defined criteria, being created on compliance with
regulations and laws. Corporate social responsibility can also be understood from the
perspective of personal social responsibility, on the care that each person in society has to build
their existence in close connection with the environment, in the context of reunification in the
values promoted by companies. (Narayanan and Rajithakumar, 2018).

Regarding the corporate responsibility character, this is a voluntary one, which implies
moral responsibilities on behalf of companies, besides those imposed in the legislation in force.
At the same time, it is necessary to maintain a long-term relationship both with the market and
with the social environment, hence it is not a mere act of philanthropy but a relationship of
development and sustainability for an indefinite period. Although it involves some costs, it is
considered a profitable management strategy that, if it has credibility and trust, can last a great
deal of time. (Heal, G. (2008)
 Even though it seems that we have explained this concept so far and what this involves,
it is not. Another component attached to this concept is ethics. The concept of ethics is used
today not only in business, it is an old concept and a topic widely debated by philosophers,
politicians, analysts, authors, writers and not only. All of them have argued that an ethical
criterion is needed to develop a society. It implies respecting values and conditions from the
perspective of human moral principles. Social responsibility is, in some authors' opinion, a very
strong ethical approach. The balance between morality and personal interest is necessary for
the development of a company in prospects. (Kotler, P., Lee, N. (2005).

Numerous authors believe that ethical issues should characterize all human activities
by promoting moral conduct rules that target all parties involved in a business: investors,
buyers, sellers, manufacturers, managers, employees, or civil society. This responsibility does
not mean only the fulfillment of some debts towards the company but also the orientation of a
part of the company's profit towards the human resources, the economic assets, the social
capital. Adopting and implementing corporate ethics programs brings with it several advantages
such as: gaining a serious image of capital, optimization and easier access to capital, attracting
new customers, and significantly increasing turnover or even stimulating and motivating their
own employees. Mentioning these aspects draws a small conclusion, namely that the
implementation of this concept is rather a clear necessity for the moment. (Kotler, P., Lee, N.
(2005).

Corporate social responsibility is also a strategic approach to creating competitive

advantages. Businesses that have included in their marketing strategies and this concept of
social responsibility are exposed to lower risks. It has been found that effective management of
legal, economic or even financial risks in an ever-changing environment, in conjunction with
strict supervision of the enterprise's activities vis-à-vis "participating stakeholders, can improve
the safety of the enterprise in the safety plan. Thus, a way of preventing and keeping the risk
under control is to consider the interests of the responsible company's partners who can react
very differently over time, depending on the market context. (Gray, C.M., 2018.)

Empirically, organizations that are investing in CSR have seen an additional image of
reputation building, with positive effects in terms of economic performance. When exposed to
certain risks due to popularity and socio-economic initiatives promoted through various social
responsibility programs, unwanted effects are not devastating. For example, for retail
companies, where the value and importance of the mark are very high (in many cases the brand
sells the product not its usefulness,( Coca-Cola, for example) and is often pressed by the media
, consumers or the actual activity, the brand reputation represses the negative effects through
credibility, reliability, initiative, constancy in CSR.

Corporate social responsibility is a reality of the present world, which for the moment
cannot be challenged. Most specialists, and not necessarily from the economic environment,
argue that this concept and its characteristics represent a new gateway to the creation of a
society without selfishness and oriented towards the citizen's rights and freedoms, not the
exploitation of it. However, in order not to put this concept on an unattainable pedestal, there
are authors expressing certain opinions, such as Milton Friedman. He argues in his work that
regardless of the object of activity and the size of the organization he cannot be voluntarily
interested in the fate of mankind. It does its calculations for management, decisions and
development, and then tries to adopt and implement this concept. Of course, as it claims, there
are special cases, but these are very few for the moment. (Crowther, D., Capaldi, N. (eds.)
(2008)

Also, from the perspective of many financial analysts, it is difficult today to develop
yourself as an entity without involving the human factor to a certain extent. Whether or not this
concept exists, it is put into practice and favorable results are obtained from it.

Conclusion

Considering that they appear after the Second World War, in the context in which at that
time the economy was in a major restructuring and resisting until today, it is an interesting
concept with many characteristics. Having an almost maximal utility today, is a highly debated
subject, each author coming up with different perspectives on him and how he can influence
the business environment. The fact that there is no legal framework to impose this concept can
make many companies expose themselves to certain risks. The power of the example in this
case is a fact that companies use. If X succeeded in adopting and implementing this issue and
had concrete results, then Y could do so.

However, the existence of a legal framework could put an end to the many doubts that
come from companies when it comes to corporate social responsibility. Being a topic that
receives countless conclusions, as good or less good, it cannot be said that corporate social
responsibility remains an optional marketing strategy for the moment.

References

1) Anshen, M. (1980). Corporate Strategies for Social Performance, New York: Macmillan
2) Crane, A. et al. (eds.) (2008). The Oxford handbook of corporate social responsibility,
London, Oxford University Press
3) Kotler, P., Lee, N. (2005). Corporate social responsibility: doing the most good for your
company and your cause, London: Wiley
4) Hart, C., 2018. Doing a literature review: Releasing the research imagination. Sage.
5) Narayanan, A. and Rajithakumar, S., 2018. ‘What Drives Talent Management in
Organizations and How Does it Benefit Them?’: A Literature Review Perspective.
6) Gray, C.M., 2018. Reducing sedentary behaviour in the workplace.
7) Dawson, P., Malik, M.R., Parvez, F. and Morse, S.S., 2019. What Have We Learned
About Middle East Respiratory Syndrome Coronavirus Emergence in Humans? A
Systematic Literature Review. Vector-Borne and Zoonotic Diseases.
8) Robert, L.H., Lan, N., „Corporate Social Responsibility”, 2008, Available at:
http://www.instituteforpr.org/essential_knowledge/detail/corporate_social_responsibili
ty/html
9) Heal, G. (2008). When principles pay corporate social responsibility and the bottom
line, London: Columbia Business School.