Corporate Social Responsibility as a Source of Competitive Advantage: an Exploratory Case Study on P.S.O

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Corporate Social Responsibility as a source of Competitive Advantage: An exploratory case study on P.S.O

FALL 2011

Thesis Supervisor

Sir Zohaib Sufyan

Submitted By:

Shahid Saleem 0811129
Tanzeel Shahed 0811136
Asad Ali 0811277

ACKNOWLEDGEMENT

Foremost, we would like to thank our advisor Sir Zohaib Sufyan for his sincere efforts in guiding us for compiling this thesis. His continuous guidance, encouragement, patience and support from the start gave us tremendous help in understanding the subject. In addition to this he was always available and accessible which again helped us in getting through with our research.

Furthermore we would like to express our sincere gratitude to the entire P.S.O CSR committee; Ma’am Shamail Shah, Mr. Anil Kumar and Mr. Rizwan Ul Haque( former CSR member) for devoting their valuable time to our research and providing us utmost co-operation at all times. We would specially like to thank Mr.Vaqar.A Khan, General Manager Human Resources, training and organizational development, for guiding us along the correct lines with our research.

We would also like to thank the entire SZABIST staff that was helpful in supporting our research work from the lab staff, to the library staff and the Executive Development Council for its timely preparation of our reference request letter. Special Thanks to Mr.Hafeez Abbasi, for his timely co-operation in checking our documents for plagiarism. Despite the tremendous workload, he managed to give us our plagiarism report promptly.

In the end we would like to thank our parents for their unconditional love and support throughout our lives and it is because of their hard work that we have the opportunity of being what we are today.

Table of Contents
Contents
EXECUTIVE SUMMARY4
1 INTRODUCTION5
1.1 BACKGROUND5
1.2 PROBLEM STATEMENT6
1.3 VARIABLES OF STUDY7
1.4 RESEARCH OBJECTIVES8
1.5 RESEARCH QUESTIONS8
1.6 RESEARCH METHODOLOGY8
1.7 SCOPE OF STUDY9
2 LITERATURE REVIEW10
2.1 EVOLUTION OF CSR THEORIES11
2.1.1 THE PROFIT RESPONSIBILITY11
2.1.2 THE ECONOMIC RESPONSIBILITY12
2.1.3 THE STAKEHOLDER APPROACH13
2.1.4 DEVELOPING INTANGIBLE ASSETS FROM CSR14
3 THEOROTICAL FRAMEWORK19
4 ANALYSIS OF P.S.O CSR ACTIVITES21
4.1 CSR OBJECTIVES OF P.S.O21
4.1.1 THE VISION21
4.1.2 OBJECTIVES ACHIEVED THROUGH CSR22
4.1.3 DIAGNOSIS: BIRDS EYE VIEW ON CSR22
4.2 IMPORTANCE OF CSR FOR P.S.O23
4.3 IMPLEMENTATION OF CSR VALUES24
4.4 CREATION OF INTANGIBLE ASSETS THROUGH CSR26
4.5 INFLUENCES ON CSR OF SOCIAL ISSUES27
4.6 MEASURE OF CSR ACTIVITIES27
4.7 CSR IN TIMES OF FINANCIAL CRUNCH27
4.8 BENEFITS GAINED THROUGH CSR28
5 CONCLUSION29
6 RECOMMENDATIONS31
7 LIMITATIONS33
8 AREAS OF FURTHER STUDY34
9 BENEFITS OF THE STUDY35
10 REFERENCES36
11 ANNEXURE 43

EXECUTIVE SUMMARY

This study was conducted on the leading oil marketing company in Pakistan, P.S.O (Pakistan State Oil). The purpose of this study was to find out * Whether Corporate social responsibility is a source of competitive advantage for the company or not. Usually it is seen as a marketing tool and our objective was to see whether it only promotes the company or does it really lead towards long term sustainability as previous studies have shown a link between CSR and sustainability. The study was a descriptive case study which involved

* Interviews with CSR committee of P.S.O and
* An analysis was done of the annual reports,
* Bulletins and other online material.

P.S.O is actively involved in CSR and value generating activities for its stakeholders. It is actively engaged in corporate philanthropy and its efforts have been recognized by the CSR association of Pakistan.

The conclusion of our study was that
* Although P.S.O does carry out activities for the social, economic and environmental benefit of the society but it does not have a strategic CSR...
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