Corporate social responsibility: a strategy for sustainable business success. An analysis of 20 selected British companies

摘要

Purpose - This paper attempts to prove that strategically investing in corporate social responsibilityrn(CSR) will maximize profits while satisfying the demands from multiple stakeholders.rnDesign/methodology/approach - The paper adopts a quantitative analysis and exploratory approach.rnIt studies the CSR practices of 20 selected UK companies. The analysis of CSR policies is based on thernglobal reporting initiative (GRI) guidelines. The analysis took a further step in examining the trends ofrnearnings per share (EPS) of the selected companies.rnFindings - The findings revealed that out of the 20 selected companies, only four achieved all sixrnguidelines as per the GRI. In regression analysis of the variables CSR and EPS, a very weak (causal) butrnpositive relationship was evident (R~2 = 0.147).rnResearch limitations/implications - The study was applied to 20 selected companies in the UK.rnFuture research should be extended to a larger sample in order to analyze the strength of thernrelationship between EPS and CSR. The study applied variables of CSR based on GRI. Other measuresrnmay reveal different insights.rnPractical implications - In the strategic sense, CSR investments are not just another business cost butrnare essential for a firm's continued survival in the ever increasingly competitive business world of today.rnThis understanding is crucial as there is an escalation of concern by both society and corporations in thernmodern world. More so, it is increasingly and widely accepted that attempting to isolate business fromrnsociety is unrealistic and that dichotomising economic and social objectives as distinct and competingrnis false.rnOriginality/value - The paper applies the variable EPS and seeks to establish a relationship with thernCSR as measured according to the GRI.