Running head: • ADOPTING CSR (CORPORATE SOCIAL RESPONSIBILITY) AS A KEY ORGANIZATION-WIDE INITIATIVE.
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• ADOPTING CSR (CORPORATE SOCIAL RESPONSIBILITY) AS A KEY ORGANIZATION-WIDE INITIATIVE.
• Adopting Csr (Corporate Social Responsibility) As A Key Organization-Wide Initiative.
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Corporate social responsibility (CSR) is a system that various companies adopt. This initiative is a concept that businesses believe they are responsible for doing good by self-regulating their actions and being socially accountable to their customers, stakeholders, and the community. Hence, through CSR, a company adopts programs, activities, and policies to make society better for its customers and the world. Companies, therefore, should adopt CSR as a fundamental part of their brand image to increase their customer base and institute brand loyalty. Thus, the importance of Johnson and Johnson company’s importance is adopting a corporate social responsibility initiative. CSR initiatives can be categorized into; economic, environmental, philanthropic, and economic responsibility. Below are various resources that one can exploit to determine the best initiatives to adopt to steer the company’s corporate social responsibility.
Maqbool, S., & Zameer, M. N. (2018). Corporate social responsibility and financial performance: An empirical analysis of Indian banks. Future Business Journal, 4(1), 84-93.
This study determines the alliance between corporate social responsibility and fiscal performance in Indian banks. This study establishes that CSR brings forth an affirmative influence on the fiscal operation of the banks. Banks, just like Johnson and Johnson, aim at accruing profits. Hence, the study is relevant since we can determine the implications of adopting CSR on its fiscal performance. The study also provides insight since the company needs to alter its philosophy towards a socially responsible approach to adopt the CSR initiative.
Lee, Y. J., Yoon, H. J., & O’Donnell, N. H. (2018). The effects of information cues on the perceived legitimacy of companies that promote corporate social responsibility initiatives on social networking sites. Journal of business research, 83, 202-214.
This study explores the role of social networking sites and CSR promotion. The study establishes various factors such as; information hints on the apparent validity of a company’s CSR initiatives and social networking sites. Furthermore, the study is relevant because it shows the implications of the company that is advertising its CSR activities and initiatives on social media networking sites. Thus, this study helps Johnson and Johnson address the impact of social media platforms on implementing various CSR activities.
Haski-Leventhal, D. (2018). Strategic corporate social responsibility: Tools and theories for responsible management. Sage.
This book exploits the best philosophical approaches, important concepts, and theories to CSR that offer the all-inclusive methodology. It also contains case studies from big brands such as McDonald’s, Coca Cola, and others. This book is relevant since it stipulates the theoretical context of CSR, the different methodologies through which a company can execute CSR, and how to measure and communicate CSR. Such information is crucial in determining the best initiatives and programs to incorporate into Johnson and Johnson. Thus, a company can adopt the CSR approach that is socially and environmentally responsible, sustainable, and ethical.
Bhardwaj, P., Chatterjee, P., Demir, K. D., & Turut, O. (2018). When and how is corporate social responsibility profitable?. Journal of Business Research, 84, 206-219.
This study explores the instances and ways in which CSR is profitable. The study determines that customers of a particular company’s brands consider its CSR initiatives and activities when purchasing their commodities. Hence, CSR activities influence consumers’ willingness to pay a higher price for commodities. This study is relevant since it allows Johnson and Johnson to determine how to increase its customers’ appreciation of its CSR initiatives. Thus, this study is crucial in determining the consumer’s role in establishing CSR activities and initiatives that a company can adopt.
Jeffrey, S., Rosenberg, S., & McCabe, B. (2019). Corporate social responsibility behaviors and corporate reputation. Social Responsibility Journal.
The paper also elaborates how specific CSR activities can result in company affiliation to Fortune Magazine Most Coveted Organizations’ List, a financial market benchmark. The study establishes that fiscal performance is the major contributor to a company’s affiliation to the magazine. In addition, it established that a company’s CSR activities are vital for its reputation as measured by its benchmark. Hence, this study is relevant since it provides the importance of CSR behaviors to elevating a company’s reputation. Thus, Johnson and Johnson should establish CSR activities to improve its reputation.
Portney, P. R. (2020). The (not so) new corporate social responsibility: An empirical perspective.
This study addresses the complexity of CSR. It establishes CSR is associated with financial performance for the companies that adopt it and questions whether CSR is so new by reviewing various empirical evidence. Thus, this paper is relevant, as it helps one understand the complexity of CSR and, through it, can determine the most effective approach that can work for their company, and in this case, Johnson and Johnson.
Adoption CSR initiatives call for a large-scale organizational change. The change is steered by business philosophy, the profitability-oriented and socially responsible approach. Hence, a new business model incorporating the new philosophy ensures that the employees are empowered through communication, and leadership is streamlined to ensure an effective and efficient organizational change.
References
Bhardwaj, P., Chatterjee, P., Demir, K. D., & Turut, O. (2018). When and how is corporate social responsibility profitable? Journal of Business Research, 84, 206-219.
Haski-Leventhal, D. (2018). Strategic Corporate Social Responsibility: Tools and Theories for Responsible Management. Sage.
Jeffrey, S., Rosenberg, S., & McCabe, B. (2019). Corporate social responsibility behaviors and corporate reputation. Social Responsibility Journal.
Lee, Y. J., Yoon, H. J., & O’Donnell, N. H. (2018). The effects of information cues on the perceived legitimacy of companies that promote corporate social responsibility initiatives on social networking sites. Journal of Business Research, 83, 202-214.
Maqbool, S., & Zameer, M. N. (2018). Corporate social responsibility and financial performance: An empirical analysis of Indian banks. Future Business Journal, 4(1), 84-93.
Portney, P. R. (2020). The (not so) new corporate social responsibility: An empirical perspective.