University essay from Blekinge Tekniska Högskola/Sektionen för Management (MAM)

Abstract: Corporate Social Responsibility is a wonderful but still new concept in the business arena. We have researched through a lot of literature with different views about this topic. Some writers saw CSR as a concept that businesses can adopt when they feel like because, according to them, there are no inherent benefits accruable from such practices whereas a majority of others are in support of CSR. We have, in this research, demonstrated that, indeed, there are a lot of benefits to business organizations from the discharge of CSR measures. In this study, we have concentrated on the responses of the three major stakeholders in any business venture, whose decisions and actions either improve or mar the success of a business. These are the employees, the customers, and the suppliers. To reduce variableness and biasness, we made use of the primary and secondary data. The primary data were by face-to-face interview while the secondary data were by books, articles and other published materials. The interview was structured in nature. We also introduced the sub-analytical factors which enabled us to evaluate the feedback from the respondents. The questions were framed around these factors and responses to them were carefully noted. Since these factors are instrumental to the growth and development of business organizations, we used them as strong analytical tools to determine how respondents react with issues concerning CSR. Our analysis and conclusion were based on the results of the interviews from the companies and organizations in Sweden, Denmark and Nigeria. We have quantified our results by the Likert Scale, and the results pointed that there is a positive correlation between CSR and the growth and development of companies. Our results also showed that with respect to CSR and the three business stakeholders studied, employees increase growth and development of companies the most, followed closely by customers, and then by suppliers. Furthermore, we x-rayed the limitations or difficulties we encountered in the course of this study. We mentioned that time and the availability of data were our greatest constraints. We also did not fail to give recommendations which we believed will be of immense benefits to firms and business organizations if adhered to.

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