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Effects of corporate social responsibility on SMEs' performance in emerging market Corporate social responsibility is a sustainable development idea, related to different levels of society,
Effects of corporate social responsibility on SMEs' performance in emerging market Corporate social responsibility is a sustainable development idea, related to different levels of society, from environmental issues to social welfare, education, and global warming (Lai et al., 2010; McWilliams et al., 2006). Corporate social responsibility can include sponsorships, charity events and voluntary employees as well as other creative activities (Lichtenstein et al., 2004; Polonsky & Speed, 2001). Corporate social responsibility is a critical strategy for businesses in their marketing planning. Many multinational corporations promote global businesses to fulfill corporate social responsibility as an important and essential part of business activities (Green & Peloza, 2014; Oberseder et al., 2011). Corporate social responsibility plays an important role in marketing and branding of a business and corporate social responsibility has gradually become the main topic of marketing, in which funding and environmental awareness are more emphasized in corporate social responsibility (Oberseder et al., 2014; Waagstein, 2011). Corporate social responsibility is often referred to as corporate social performance, and academic researchers are taking this topic seriously. Corporate social responsibility is defined differently by different authors with different contexts and perspectives. In this study, based on the social responsibility's concept of Mohr et al. (2001), the corporate social responsibility's definition is an organization's commitment to minimize or eliminate harmful effects and maximize its long-term beneficial impact on society. The concept of CSR became popular in the 1950s when Bowen (1953) urged entrepreneurs to contribute to community development through company policies. It was followed by Manne & Wallich (1972); Beyer (1972); Drucker (1974) and Carson (1977), and many businessmen, leaders, consumer advocacy organizations and environmental activists, are strong advocates of the concept of social responsibility. The social responsibility's concept assumes that businesses are generating money from using the natural resources directly or indirectly and this affects natural resources over time; moreover, the large-scale and continuous production of corporations also damages the environment and the ecosystem. Therefore, corporations must have responsibility to the community through practical activities aimed at protecting the environment and regenerating ecosystems, which is a great concern of society. Source: Thanh, T. L., Huan, N. Q., & Hong, T. T. T. (2021). Effects of corporate social responsibility on SMEs' performance in emerging market. Cogent Business & Management, 8(1), 1878978. a. Why corporate social responsibility is important to Small medium Enterprise. (10 marks) b. Suggest FIVE (5) examples of corporate social responsibility could be perform by Small medium Enterprise (SMEs) companies
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