Corporate Social Responsibility and Corporate Image Resurrection: Cases of Mining Firms in Odisha
01 Jan 2018-pp 343-361
TL;DR: In this article, the use of corporate social responsibility (CSR) as a mechanism for corporate image resurrection by two business houses in Odisha has been discussed, where the activities undertaken by the business houses to communicate a positive brand image among its stakeholders are discussed.
Abstract: Corporations are actively embracing corporate social responsibility (CSR) in response to expectations of customers, employees, society and other stakeholders. In many cases, CSR is used as a tool for enhancing the legitimacy of the business among its stakeholders and for the development of a positive corporate image (Morimoto et al. 2004). This paper looks at the use of CSR as mechanism for corporate image resurrection by two business houses in Odisha. The paper looks at the activities undertaken by the business houses to communicate a positive brand image among its stakeholders. Though the paper draws on the stakeholder theory of the instrumental and moral duty of businesses to meet stakeholder norms for desirable organizational behaviour, it goes beyond it to look at CSR as an image makeover and a brand-building exercise. The paper describes the case of two India-based mining corporations located in the state of Odisha which were in the eye of controversy and drew global criticism. The business houses soon realized the importance of corporate reputation and inherent benefits associated with it. The first step they took was to resurrect their image in the eyes of stakeholders through CSR activities. The focus of the cases is on this aspect of their activity. The cases have been analysed in the light of stakeholder approach.
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TL;DR: In this paper, the authors investigate strategies and practices of bioeconomy implemented by hotels in Romania in the context of increasing area and scale of corporate social responsibility initiatives worldwide and conclude that, as long as social responsibility continues to have a voluntary character, there will be a limited number of best practices as regards developing bio economy in the Romanian hotel industry.
Abstract: The aim of this article is to investigate strategies and practices of bioeconomy implemented by hotels in Romania in the context of increasing area and scale of corporate social responsibility initiatives worldwide. After presenting the conceptual framework necessary for the present investigation and selecting the most relevant papers from the literature, the research focuses on Romania’s experience through: statistical analyzes, the investigation of hotel websites regarding social responsibility and bioeconomy practices and a semi-quantitative study having as a research tool the individual semi-structured interview with hotels representatives. The Romanian market underscores relevant contrasts between four and five star hotels and the others categories. Hotels in the first category, often belonging to international chains, benefit from the strategies of sustainable development and social responsibility within the group, in contrast with other hotels. The investigation concludes that, as long as social responsibility continues to have a voluntary character, there will be a limited number of best practices as regards developing bioeconomy in the Romanian hotel industry. Consequently, we propose the introduction of legislative measures to stimulate all companies, regardless of size, to report non-financial information, as well as raising awareness and education in the direction of promoting the bioeconomy.
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TL;DR: In this paper, the authors present a struggling attempt to give structure to the statement: "Business in under-developed countries is difficult"; in particular, a structure is given for determining the economic costs of dishonesty.
Abstract: This paper relates quality and uncertainty. The existence of goods of many grades poses interesting and important problems for the theory of markets. On the one hand, the interaction of quality differences and uncertainty may explain important institutions of the labor market. On the other hand, this paper presents a struggling attempt to give structure to the statement: “Business in under-developed countries is difficult”; in particular, a structure is given for determining the economic costs of dishonesty. Additional applications of the theory include comments on the structure of money markets, on the notion of “insurability,” on the liquidity of durables, and on brand-name goods.
17,764 citations
TL;DR: In this article, a conceptual model that comprehensively describes essential aspects of corporate social performance is presented, and three aspects of the model address major questions of concern to academics and managers alike: What is included in corporate social responsibility? What are the social issues the organization must address? and what is the organization's philosophy or mode of social responsiveness?
Abstract: Offered here is a conceptual model that comprehensively describes essential aspects of corporate social performance. The three aspects of the model address major questions of concern to academics and managers alike: (1) What is included in corporate social responsibility? (2) What are the social issues the organization must address? and (3) What is the organization's philosophy or mode of social responsiveness?
7,044 citations
TL;DR: This article conducted a meta-analysis of 52 studies and found that corporate virtue in the form of social responsibility and, to a lesser extent, environmental responsibility is likely to pay off, although the operationalizations of CSP and CFP also moderate the positive association.
Abstract: Most theorizing on the relationship between corporate social/environmental performance (CSP) and corporate financial performance (CFP) assumes that the current evidence is too fractured or too variable to draw any generalizable conclusions. With this integrative, quantitative study, we intend to show that the mainstream claim that we have little generalizable knowledge about CSP and CFP is built on shaky grounds. Providing a methodologically more rigorous review than previous efforts, we conduct a meta-analysis of 52 studies (which represent the population of prior quantitative inquiry) yielding a total sample size of 33,878 observations. The meta-analytic findings suggest that corporate virtue in the form of social responsibility and, to a lesser extent, environmental responsibility is likely to pay off, although the operationalizations of CSP and CFP also moderate the positive association. For example, CSP appears to be more highly correlated with accounting-based measures of CFP than with market-based ...
6,493 citations
TL;DR: In this article, the authors outline a supply and demand model of corporate social responsibility (CSR) and conclude that there is an "ideal" level of CSR, which managers can determine via cost-benefit analysis.
Abstract: We outline a supply and demand model of corporate social responsibility (CSR). Based on this framework, we hypothesize that a firm's level of CSR will depend on its size, level of diversification, research and development, advertising, government sales, consumer income, labor market conditions, and stage in the industry life cycle. From these hypotheses, we conclude that there is an “ideal” level of CSR, which managers can determine via cost-benefit analysis, and that there is a neutral relationship between CSR and financial performance.
6,305 citations
TL;DR: In this article, the authors argue that firms compete for reputational status in institutional fields and attempt to influence other stakeholders' assessments by signaling firms' salient advantages by signaling their salient advantages.
Abstract: Firms compete for reputational status in institutional fields. Managers attempt to influence other stakeholders' assessments by signaling firms' salient advantages. Stakeholders gauge firms' relati...
4,862 citations