The paper "Corporate Social Responsibility in Malaysia" is an outstanding example of a management case study. Corporate Social Responsibility (CSR) is also known as social performance. It is aimed at attaining sustainable business is a form of corporate activities that are incorporated into business plans. The main aim of CSR by the company is to be responsible for its action and draw up positive impacts by conducting activities that influence the public as a whole, customers and those who have shares in the company. Companies also conduct CSR so as to maintain healthy economies, markets and communities and by this build a sustainable business, (Abdul 2011). The key drivers of CSR are always to contribute to the physical infrastructure and social capital in order to gain trust from the public.
Most people will tend to trust a company according to CSR it conducts. A company also becomes transparent with its plan when it conducts CSR. The public can then know where such a company is heading in terms of performance, (Jonunq & Malhotra 2007). There has been an increased public expectation from the public for business.
The public expects Companies and Corporate not to merely make a profit and provide job opportunities but also conduct CSR. A company that conducts CSR is unlikely to be doubted by the government as well. When the government trusts a certain company then, more rights are given to it to produce goods and services. There are various benefits that accrue from CSR. Companies can aid to recruit and retain human resource simply by conducting CSR, especially in a competitive market. Usually, when applicants of the job get a job application they will more often look at the companies CSR.
CSR also helps to improve how its staff perceives the company. When a company conduct CSR, it builds its image as well as reputation, many companies will conduct CSR for the purpose of brand differentiation in a crowded market, (Maccarrone 2007). When a company conducts CSR it persuades the public and the government that it is taking health issues and safety of the environment seriously, therefore, attracting public admiration an aspect that increases the size of its target customers. CSR is also a form of contribution done by companies to the community through its internal business activities, investment into society and philanthropically acts and how it engages in government policies.
With time CSR is becoming indispensable in business practices and has received attention from the chief executive, chairpersons, and board that directs and the higher management teams of bigger international companies (Noer, Ewatt & Weiss 2008). They understand that a strong CSR program is an essential element in achieving superior practices of business and effective leadership. Majority of stakeholders have come to realize the need for CSR, to help in pressing economic issues.
This is because an activist group could target corporations that are not acting responsibly, socially, for their actions. The activist group could act through demonstration to such companies. Companies are now relying less on the Government to guide them and are hence adopting their own policies to govern themselves. They are also aware of how they should conduct themselves with regard to environmental factors. Customers make a decision on more social criteria rather than just quality of the product, (Maccarrone 2007).