1 Doctoral Study Business Problem: Savior C Wright Walden University August 24, 2017 2 Doctoral Topic: Corporate Social Responsibility The topic that I am interested in studying is that of Corporate Social Responsibility (CRS). The topic itself has gradually developed and continues to evolve every day. An expanding body of evidence shows that businesses are being forced to treat corporate social responsibility as an element central to their strategy (Crane, 2008). In fact, corporate social responsibility has become one of the standard business practices of our time. Corporate social responsibility is concerned with business’ commitment to contribute to sustainable economic development by treating all its stakeholders ethically and in a socially responsible manner (Cavico, 2013). The main aim of corporate social responsibility is businesses to engage themselves in social responsibilities rather than solely focusing their activities on profit motives. The need to study the topic emanates from the need to examine and understand some of the factors that have led to the development of the concept of corporate social responsibility and why businesses need to develop proper corporate business practices for their emerging markets. Corporate Responsibility History Over the last two decades, there has been a significant change in triangular associations between firms, governments, and societies. These have primarily been influenced by changes in business environments that have undergone vast changes concerning both competition and the wave of globalization that continues to sweep across markets (Crane, 2008). Today, companies are expanding their boundaries from the countries of their origin to evolving markets in developed and developing countries. Companies have begun to realize that engaging in clearly defined business practices, public goodwill, and responsible business etiquette is of paramount importance in a business gaining competitive advantages in the competitive environments and enjoying continued existence (Cavico, 2013). Previous studies that have focused on this topic of 3 research have noted that today’s firms are no longer acting as independent entities regardless of the interest of the general public. In actual sense, the way businesses associate with the state and societies has been said to have slowly transformed from philanthropic coexistence to one that entails mutual interest for all the stakeholders (Rothaermel, 2015). Researchers in previous studies have also noted that businesses are now seeing the need to have policies and procedures that integrate environmental, social, ethical, human rights, and consumer interests into business operations, all in close collaboration with stakeholders. Corporate Impact and Consequences For companies, the overall intention is to achieve a positive impact on the society while maximizing shared value for owners of the business, its employees, shareholders, and stakeholders. Companies that practice corporate social responsibility are rated higher and are likely to enjoy greater customer retention and customer loyalty, positive brand outlooks, increased competitiveness, greater financial gains, and cost savings (Rothaermel, 2015). Studying corporate social responsibility would be relevant in an era when governments, activists, the media, and the society as a whole have become adept at holding companies accountable for the social consequences of their activities (Cavico, 2013). Studying the topic would impact a better understanding of why corporate citizenship has emerged as an inescapable priority for business leaders all areas of business, all industries, and in every country. My selection of the topic reflects similarities with what is discussed in the media piece ‘Choosing a Doctoral Topic.’ In its broadest sense, my topic is of growing concern, investigates old ideas, is relevant and straight to the point, and provides a chance for future research. Studying the topic would be based on various research questions. The first research question would be, “Is corporate social responsibility necessary or optional for businesses?” The 4 second research question would be, “Does corporate social responsibility improve corporate reputation and thus performance?” Answering these questions would necessitate quantitative data, which would be collected through different scientific methods. These include but are not limited to interviews, observations, questionnaires, and focus groups. 5 References Cavico, F. J. (2013). Corporate social responsibility. Carrollton, KY: iLead Academy. Crane, A. (2008). The Oxford handbook of corporate social responsibility. Oxford, UK: Oxford University Press. Rothaermel, F. T. (2015). Strategic management. New York, NY: McGraw-Hill.
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