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CSR Practices and Competitive Advantages: A Descriptive Study

American Journal of Trade and Policy

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Title CSR Practices and Competitive Advantages: A Descriptive Study
 
Creator Siddique, Md. Nur-E-Alam; Senior Lecturer (Marketing), Faculty of Business, ASA University Bangladesh (ASAUB), BANGLADESH
 
Subject CSR, Competitive Advantages, Brand Image, Social Welfare
 
Description CSR is the managerial compulsion to defend and enhance both the welfare of society as a whole and the interests of the company. So, this study is an examination of the competitive advantages of CSR practice. This study is based on two theories; stakeholder’s theory, which states that companies have essential groups that need to care of and the iron law of CSR, which states that companies that become failure to utilize their power responsibly will lose it in the long run. Reviewing prior studies it was found that a number of benefits proliferate to companies that practise CSR; numerous advantages were recognized. Among these others consist of: improved brand and reputation, decline in operation costs, attracting new customers, balances power with responsibility, discourages government regulation, improves a company’s image, promote profits, superior relations with the investment groups and easier access to capital, improved employee relations, efficiency and innovation and stronger relations with society through stakeholder involvement. This paper concludes that there is a greater chance to be benefitted initiating CSR actions. Thus, it suggests that companies should try to provide due attention to CSR and this practice needs to consider as a continuous process. 
 
Publisher Asian Business Consortium
 
Contributor —
 
Date 2014-12-02
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Identifier http://journals.abc.us.org/index.php/ajtp/article/view/532
10.18034/ajtp.v1i3.532
 
Source American Journal of Trade and Policy; Vol 1, No 3 (2014): 3rd Issue; 109 - 116
2313-4755
2313-4747
 
Language en
 
Rights Copyright (c) 2015 Md. Nur-E-Alam Siddique
http://creativecommons.org/licenses/by-nc/4.0