Corporate social responsibility (CRS) otherwise referred to as corporate social performance or sustainable responsible business is a form of corporate self-regulation which is usually integrated in a business model (Baumann-Pauly et al. 2013). In the modern business world, CRS strives to explicate and clarify uncorrelated and correlated issues specifically pertinent to environmental and social interests and welfare. While doing this, businesses consider the benefits and the financial interests of the stakeholders (Crane et al. 2013). Responsibility is now focused on obligation and accountability. Accordingly the issue of business ethics has brought about the arena of CSR. Some of the issues allied with CRS include corporate social marketing, global citizenship, corporate responsibility, community development, community affairs, community relations, corporate community involvement, corporate giving, corporate philanthropy and corporate citizenship (Carroll & Buchholtz 2014). CSR affects the manner in which the business strives to balance environmental, social and economic imperatives. Therefore, CSR involves an execution of a well planned strategy.
Advancement in technology has intensified globalization. This has enabled business to operate in more than one country leading to international businesses. Accordingly, in this competitive world and harsh economic times, most companies are going international with the aim of diversifying their markets. Subsequently, when they operate in different countries, they are regulated by different governments (Scherer & Palazzo 2011). This means that businesses may have to alter some of the activities to comply with the regulations of the respective governments. Corporate social responsibility is becoming obligatory (Lima & Tsutsuia 2012). Consequently, the study aims at establishing how a business can ensure CRS in the global business arena.
• To establish the effect of globalization on corporate social responsibility
• To determine the strategies used by international businesses to select CSR activities for each country they operate in
• To identify factors that promote CSR in the global arena
• To establish factors which impede countries from exercising their CSR strategies
• To evaluate the effect of exercising CSR on international businesses
The project will establish how companies can be able to exercise CSR in the global market. This is helpful considering the positive effect of CSR. Adoption of CSR enhances innovation, saves costs, helps in brand differentiation and creates an avenue for customer engagement. However, to benefit from this, a lot of thinking has to go into the process (Torres et al., 2012). The fact that CSR has to be exercised in a global market makes it even more complicated. Conversely, the research will provide information on what needs to be done. This information will be important for all businesses operating in the global arena and those that wish to go global.
This study will be a survey that will collect information from five international companies. Information will be collected from strategic management personnel of these companies. The researcher will consider companies that have made it in the global arena like KMPG among others to establish the strategies they have used. Accordingly, the researcher will list all these companies and assign them numbers. Through randomization, the researcher will pick five. Subsequently, the five companies will be reached through email and phone calls. Only those which accept to take part in the study will be considered. In case any of the five companies declines, the researcher will pick another number until a sample size of five companies is attained. The project will use interviews and questionnaires to gather data. Questionnaires will be emailed to the strategic management personnel. Interviews will be held with the strategic managers for more information and clarifications.
Baumann-Pauly, D Wickert, C Spence, L & Scherer, A 2013, “Organizing Corporate Social Responsibility in Small and Large Firms: Size Matters” Journal of Business Ethics,vol 115, no.4, pp. 693-705.
Carroll, A & Buchholtz, A 2014, Business and Society: Ethics, Sustainability, and Stakeholder Management, Starmford, CT, Cengage Learning.
Crane, A Matten, D & Spence, L 2013, Corporate Social Responsibility: Readings and Cases in a Global Context, Abingdon, Routledge.
Lima, A & Tsutsuia, K 2012, “Globalization and Commitment in Corporate Social Responsibility: Cross-National Analyses of Institutional and Political-Economy Effects,” American Socialogical Review, vol.77, no.1, pp. 69-98.
Scherer, A. & Palazzo, G 2011, “The New Political Role of Business in a Globalized World: A Review of a New Perspective on CSR and its Implications for the Firm, Governance, and Democracy,” Journal of Management Studies, vol.48, no.4, pp. 899-931.
Torres, A Bijmolt, T Tribo, J & Verhoer, P 2012, “Generating global brand equity through corporate social responsibility to key stakeholders,” International Journal of Research in Marketing, vol.29, no.1, pp. 13-24.