CSR- A Revolutionary Turning Point or Just a Fad for Engro Corporation.| Submitted to: Ms. Nyla Ansari20th November, 2012|
CSR- A revolutionary turning point or just a fad for Engro Corporation.
Reason for choosing this topic:
In recent decades the notion of Corporate Social Responsibility (CSR) has evolved to be a strong strategy for businesses to survive in a brutal market environment. In a world where market’s shift and consumers’ preferences become more erratic and complex, adopting CSR strategy is a powerful tool for survival. CSR is a concept whereby firms integrate social and environmental concerns in their business operations and in their communication with stakeholders on a voluntary basis. The value of CSR is being recognized globally by organizations both big and small to leverage competitive advantage through efficient business practices, transparency in business processes, improved corporate image, satisfied customers, employee loyalty and hence improving their bottom lines. Recent researches by JWT Intelligence in the UK, US and Canada show that majority of consumers seek brands with socially responsible values and most consumers are skeptical about companies’ efforts in this area. Therefore it is easy to infer that many businesses could harm their profitability by failing to display that they are genuinely committed to CSR. ( Saul, David. Business Environment. N.p.. Web. 19 Nov 2012. )The requirement for CSR to take root in our corporate culture is all the more acute given the prevailing economic and social conditions of Pakistan. Therefore by choosing this topic for our case we hope to study how a large corporation like Engro adopts CSR and its impact on the organisation’s overall performance. Purpose that we aim to achieve:
CSR has become more than just an ideology, and more a way of conducting business in the modern corporate environment. While the customers become more aware of how "responsible" a firm is,...