Research report

ASSIGNMENT 2: INDIVIDUAL REPORT
LITERATURE REVIEW ON CORPORATE SOCIAL RESPONSIBILITY
Table of Contents
Introduction    3
1. Definition of Literature Review and its Achieved Intention    3
Literature Review    3
Its Intention that it wants to Achieve    3
2. Literature Review on the Topic “Corporate Social Responsibility”    4
Concept of Corporate Social Responsibility    4
Significance of Corporate Social Responsibility in Business    4
Factors influencing the Implementation of Corporate Social Responsibility    4
Advantages of Implementing Corporate Social Responsibility to the People, Profit and Planet    5
Theories related to Corporate Social Responsibility    5
Triple Bottom Line (TBL) Theory    5
Utilitarianism Theory    6
Stakeholder Theory    6
Corporate Citizenship Theory    6
3Ps of Corporate Social Responsibility    6
Impact of Corporate Social Responsibility on the Success of a Business    7
Conceptual Framework    8
Summary    8
References    9
Introduction
Literature review can be considered as a way of initiating a research that can be useful for any field of study. Researches are conducted in order to find relevant and important information that enhance knowledge in a particular field and explore it in even more details, if the area is not explored well so far. In the business context, there are a number of contexts, in which researches have still not been done sufficiently. Corporate Social Responsibility is one such area that demands attention; however, has not been explored yet to its deserving extent. The present literature review is a search of relevant papers or sources of information that pertain to Corporate Social Responsibility and relates to business context.
1. Definition of Literature Review and its Achieved Intention
Literature Review
Literature review (LR) is a part of a research paper that critically analyses the contents of previously published research works in order to gain an in-depth knowledge about the cu
ent research topic. As defined by Hart (2018), LR is an academic content, following the na
ative style of writing, wherein the learner or the researcher reviews various scholarly papers in order to understand the viewpoints of their respective authors. Hence, for conducting an LR, firstly, the reviewer has to search for the relevant literary sources that pertain to the topic of the LR. For academic researchers, LR can be a useful tool in understanding and evaluating the quality of the research papers that were previously published, or in other words, the researches that were previously conducted. As supported by Ridley (2012), LRs allow the researchers to evaluate the strengths and weaknesses of the research papers to be reviewed, which in turn, leads on to determining if those papers could be further used as informative sources to the research presently being conducted. Hence, in this present literature review, the focus area is corporate social responsibility, which can be better analysed if the quality of the previously conducted researches is evaluated. This can be done with the help of the literature review.
Its Intention that it wants to Achieve
LR intends to achieve a clear understanding the concepts, theoretical underpinnings, models and frameworks related to a particular research topic so that the topic can be studied in more details, without having any vague idea about it. Hence, it achieves clarity about the conceptions that are relevant to the researchers. In this context, it can be said that the LR is usually conducted with respect to a topic, for which the papers are searches, which are linked to the topic most closely. As supported by Ridley (2012), these papers are reviewed using a critical perspective that is by supporting and criticising the viewpoints of the authors for their strengths and weaknesses respectively. After searching the sources, themes are constructed, under which the literary findings are argumentatively a
anged. Thus, after reading the papers and understanding them to write the LR, an LR achieves its intended aim.
2. Literature Review on the Topic “Corporate Social Responsibility”
Concept of Corporate Social Responsibility
Corporate Social Responsibility or CSR is corporate duty of organisations to maintain their business ethics, accountability and regulate themselves from committing any harm to the environment, in which they are operating. According to Aras et al. (2010), it is a newly introduced concept, being adopted by private firms recently, because of the growing concerns of these firms about the environment around them. As supported by Inoue and Lee (2011), although CSR was an existent phenomenon for the organisations since a long time; however, private companies have started em
acing it of lately, because of the gradual replenishment of the non-renewable sources they are using for conducting their business. Hence, it is also considered as a corporate ethical policy for the company in order to put them on forefront of ethical business practices and policies.
Significance of Corporate Social Responsibility in Business
CSR is an indication of the corporate intelligence, awareness, responsiveness and ethical behaviour by the stakeholders of the company. Its significance lies in imparting the company with a sense of responsibility towards the people, who work for it, the planet in which it operates and the profit that it has to earn for the success of its business. With the achievement of this sense of responsibility, the company is able to avoid environmental and social issues that might harm the public directly or indirectly. As supported by Flammer (2015),...