Abstract: The relationship between Corporate Social Responsibility (CSR) and financial performance (FP) is a subject of great interest that has not yet been resolved. In this work, we have developed a new and original tool to measure this relation. The tool quantifies the value contributed to companies that are committed to CSR. The theoretical model used is the fuzzy discounted cash flow method. Two assumptions have been considered, the first, the company has implemented the IQNet SR10 certification, and the second, the company has not implemented that certification. For the first one, the growth rate used for the time horizon is the rate maintained by the company after obtaining the IQNet SR10 certificate. For the second one, both, the growth rates company prior to the implementation of the certification, and the evolution of the sector will be taken into account. By using triangular fuzzy numbers, it is possible to deal adequately with each company’s forecasts as well as the information corresponding to the sector. Once the annual growth rate of the sales is obtained, the profit and loss accounts are generated from the annual estimate sales. For the remaining elements of this account, their regression with the nets sales has been considered. The difference between these two valuations, made in a fuzzy environment, allows obtaining the value of the IQNet SR10 certification. Although this study presents an innovative methodology to quantify the relation between CSR and FP, the authors are aware that only one company has been analyzed. This is precisely the main limitation of this study which in turn opens up an interesting line for future research: to broaden the sample of companies.
Abstract: The aim of non-profit organizations (NPO) is to provide services and goods for its clientele, with profit being a minor objective. By having this definition as the basic purpose of doing business, it is obvious that the goal of an organisation is to serve several bottom lines and not only the financial one. This approach is underpinned by the non-distribution constraint which means that NPO are allowed to make profits to a certain extent, but not to distribute them. The advantage is that there are no single shareholders who might have an interest in the prosperity of the organisation: there is no pie to divide. The gained profits remain within the organisation and will be reinvested in purposeful projects. Good governance is mandatory to support the aim of NPOs. Looking for a measure of good governance the principals of corporate governance (CG) will come in mind. The purpose of CG is direction and control, and in the field of NPO, CG is enlarged to consider the relationship to all important stakeholders who have an impact on the organisation. The recognition of more relevant parties than the shareholder is the link to corporate social responsibility (CSR). It supports a broader view of the bottom line: It is no longer enough to know how profits are used but rather how they are made. Besides, CSR addresses the responsibility of organisations for their impact on society. When transferring the concept of CSR to the non-profit area it will become obvious that CSR with its distinctive features will match the aims of NPOs. As a consequence, NPOs who apply CG apply also CSR to a certain extent. The research is designed as a comprehensive theoretical and empirical analysis. First, the investigation focuses on the theoretical basis of both concepts. Second, the similarities and differences are outlined and as a result the interconnection of both concepts will show up. The contribution of this research is manifold: The interconnection of both concepts when applied to NPOs has not got any attention in science yet. CSR and governance as integrated concept provides a lot of advantages for NPOs compared to for-profit organisations which are in a steady justification to show the impact they might have on the society. NPOs, however, integrate economic and social aspects as starting point. For NPOs CG is not a mere concept of compliance but rather an enhanced concept integrating a lot of aspects of CSR. There is no “either-nor” between the concepts for NPOs.
Abstract: Several studies have proposed a one-size fit all approach to Corporate Social Responsibility (CSR) practices, such that CSR as it applies to developed countries is adapted to developing countries, ignoring the differing institutional environments (such as the regulative, economic, social and political environments), which affects the profitability and practices of businesses operating in them. CSR as it applies to filling institutional gaps in developing countries, was categorized into four themes: environmental protection, product and service innovation, social innovation and local cluster development. Based on the four themes, the study employed a qualitative research approach through the use of interviews and review of available publications to study the influence of institutional environments on CSR practices engaged in by three renewable energy firms operating in Nigeria. Over the course of three 60-minutes sessions with the top management and selected workers of the firms, four propositions were made: regulatory environment influences environmental protection practice of Nigerian renewable firms, economic environment influences product and service innovation practice of Nigerian renewable energy firms, the social environment impacts on social innovation in Nigerian renewable energy firms, and political environment affects local cluster development practice of Nigerian renewable energy firms. It was also observed that beyond institutional environments, the international exposure of an organization’s managers reflected in their approach to CSR. This finding on the influence of international exposure on CSR practices creates an area for further study. Insights from this paper are set to help policy makers in developing countries, CSR managers, and future researchers.
Abstract: Objective: The paper aims to present various sources of competitive advantage which may occur when an enterprise strategically applies its concept of corporate philanthropy. Methodology: The review of the literature and available reports on the research regarding corporate philanthropy. Results: Strategic philanthropy is a positive phenomenon. Unfortunately, enterprises in Poland do not see all positive sides of such activities yet. Three kinds of corporate philanthropy may be described. They are to fulfil a social duty, improve the company reputation and gain a competitive edge. Practical implications: Showing enterprises the advantages of taking philanthropic actions, in particular, a large role of strategic philanthropy in gaining a competitive edge in the market as well as how to avoid negative consequences of corporate philanthropy. The paper presents corporate philanthropy on a few layers: as a CSR element, actions generating values in products, actions improving a corporate image in the market, altruist actions of employees.
Abstract: Given the limited research on Small and Mediumsized
Enterprises’ (SMEs) contribution to Corporate Social
Responsibility (CSR) and even scarcer research on Swiss SMEs, this
paper helps to fill these gaps by enabling the identification of supranational
SME parameters. Thus, the paper investigates the current
state of SME practices in Switzerland and across 15 other countries.
Combining the degree to which SMEs demonstrate an explicit (or
business case) approach or see CSR as an implicit moral activity with
the assessment of their attributes for “variety of capitalism” defines
the framework of this comparative analysis. To outline Swiss small
business CSR patterns in particular, 40 SME owner-managers were
interviewed. A secondary data analysis of studies from different
countries laid groundwork for this comparative overview of small
business CSR. The paper identifies Swiss small business CSR as
driven by norms, values, and by the aspiration to contribute to
society, thus, as an implicit part of the day-to-day business. Similar to
most Central European, Mediterranean, Nordic, and Asian countries,
explicit CSR is still very rare in Swiss SMEs. Astonishingly, also
British and American SMEs follow this pattern in spite of their strong
and distinctly liberal market economies. Though other findings show
that nationality matters this research concludes that SME culture and
an informal CSR agenda are strongly formative and superseding even
forces of market economies, nationally cultural patterns, and
language. Hence, classifications of countries by their market system,
as found in the comparative capitalism literature, do not match the
CSR practices in SMEs as they do not mirror the peculiarities of their
business. This raises questions on the universality and
generalisability of unmediated, explicit management concepts,
especially in the context of small firms.
Abstract: In this paper, Fuzzy C-Means clustering with
Expectation Maximization-Gaussian Mixture Model based hybrid
modeling algorithm is proposed for Continuous Tamil Speech
Recognition. The speech sentences from various speakers are used
for training and testing phase and objective measures are between the
proposed and existing Continuous Speech Recognition algorithms.
From the simulated results, it is observed that the proposed algorithm
improves the recognition accuracy and F-measure up to 3% as
compared to that of the existing algorithms for the speech signal from
various speakers. In addition, it reduces the Word Error Rate, Error
Rate and Error up to 4% as compared to that of the existing
algorithms. In all aspects, the proposed hybrid modeling for Tamil
speech recognition provides the significant improvements for speechto-
text conversion in various applications.
Abstract: The concept of corporate social responsibility (CSR) in the Czech Republic has evolved notably during the last few years and an issue that started as an interest- and motive-based activity for businesses is becoming more commonplace. Governments have a role to play in ensuring that corporations behave according to the rules and norms of society and can legislate, foster, collaborate with businesses and endorse good practice in order to facilitate the development of CSR. The purpose of this paper is to examine the opportunities and options of CSR in government policy and research its relevance to a business sector. An increasing number of companies is engaging in responsible activities, the public awareness of CSR is rising, and customers are giving higher importance to CSR of companies in their choice. By drawing on existing CSR approach in Czech and understanding of CSR are demonstrated. The paper provides an overview, more detailed government approach of CSR.
Abstract: The decision-making processes in Corporate Social Responsibility (CSR) among firms in the airlines industry borders on the benefits that accrue to firms through those investments. The crux of the matter is how firms can quantify the benefits derived from such investments. This paper analyses the cost benefit adjustment strategies for firms in the airline industry in their CSR strategy adoption and implementation. The paper discusses the CBA model in order to understand the ways airlines can reduce costs and increase returns on CSR, or balance the cost and benefits. The analysis indicates that, economic concepts especially the CBA are useful, though they are not without challenges. This paper concludes that the CBA model gives a basic understanding of the motivations for investing in intangible assets like CSR. It sets the tone for formulating relevant hypothesis in empirical studies in investment in CSR and other intangible assets in business operations.
Abstract: To be considered a socially entrepreneurial organization today requires achieving what can be termed a “hybrid middle ground” equilibrium, comprising of economic as well as social sustainability. This middle ground requires some blend of both business and social commitments. In this paper, we use the case of Hungary's second ranked mobile operator, Telenor Hungary to illustrate an example of a company that is moving to the hybrid middle ground by transitioning from a for-profit company to a socially responsible business using the concept of strategic CSR. In this line of thinking, the organization explicitly supports programs and initiatives that have a direct link to the core business and bring operational and/or financial advantages for the company, while creating a positive social and/or environmental impact. The important lessons learned from the company transition are also discussed.
Abstract: The aim of the study is to investigate a number of characteristics of Corporate Social Responsibility (CSR) indicators that should be adopted by CSR assessment methodologies. For the purpose of this paper, a survey among the Greek companies that belong to FTSE 20 in Athens Exchange (FTSE/Athex-20) has been conducted, as these companies are expected to pioneer in the field of CSR. The results show consensus as regards the characteristics of indicators such as the need for the adoption of general and specific sector indicators, financial and non-financial indicators, the origin and the weight rate. However, the results are contradictory concerning the appropriate number of indicators for the assessment of CSR and the unit of measurement. Finally, the company-s sector is a more important dimension of CSR than the size and the country where the company operates. The purpose of this paper is to standardize the main characteristics of CSR indicators.
Abstract: This study attempts to clarify major perspectives of Corporate Social Responsibility (CSR) in the Greek market related to companies that have sufficient CSR. An empirical analysis was undertaken, based on literature review and previous observations and surveys, in order to provide a general analysis of the CSR concept in Greece. The results of Accountability Rating institution were used in order to identify companies that adopt an integrated social responsibility approach. Companies that responded to the survey are both regional and international and belong to different industrial fields. Some of the main survey results reveal: multiple aspects for the CSR concept, weak consensus as regards the importance of stakeholders and benefits from the CSR implementation, the important role of CSR in the decision procedure and CSR practices concerning social issues that affect mostly company-s competitiveness. Sharing companies- experience could address common social issues through CSR best practices and develop new knowledge.
Abstract: This research aimed to study employees- perceptions and expectations toward their organization-s corporate social responsibility (CSR), to study the differences between employees- personal factors and level of perceptions and expectations toward CSR, and to study the relationship between employees- perceptions and expectations toward CSR. Purposive sampling and questionnaire were applied to collect information from 400 private company employees in Bangkok metropolitan area. The results revealed that employees had “high" level of perceptions and expectations toward CSR, of which the highest level were given on the area of “corporate governance and transparency". It was found that there was different level of expectations of employees with different period of employment, position and employment (by listed and non-listed companies). Employees of different age and period of employment also had different level of expectations. Employees- perceptions were correlated with their expectations toward CSR.
Abstract: In this paper, the requirement for Coke quality
prediction, its role in Blast furnaces, and the model output is
explained. By applying method of Artificial Neural Networking
(ANN) using back propagation (BP) algorithm, prediction model has
been developed to predict CSR. Important blast furnace functions
such as permeability, heat exchanging, melting, and reducing
capacity are mostly connected to coke quality. Coke quality is further
dependent upon coal characterization and coke making process
parameters. The ANN model developed is a useful tool for process
experts to adjust the control parameters in case of coke quality
deviations. The model also makes it possible to predict CSR for new
coal blends which are yet to be used in Coke Plant. Input data to the
model was structured into 3 modules, for tenure of past 2 years and
the incremental models thus developed assists in identifying the
group causing the deviation of CSR.