Introduction Corporate social responsibility (CSR), can be defined as an active and voluntary contribution to improving social, economic and

environmental conditions of the society by a companies, usually with the aim of improving their competitive position and valuation and their added value. The performance appraisal system across the organization in these areas is known as the triple bottom line. Corporate social responsibility goes beyond compliance with laws and regulations, assuming their respect and strict compliance. In this sense, labor laws and regulations related to environment are the starting point with environmental responsibility (Saether, Kim, et al, 2008, p. 45). Corporate social responsibility is a form of management that is defined by the company's ethical relationship with the Stakeholders, and the establishment of business goals compatible with sustainable development of society, preserving environmental and cultural resources for future generations, respecting diversity and promoting the reduction of social inequalities (Saether, Kim, et al, 2008, p. 45). This paper will focus on identifying the ways in which a business through the adaptation of the corporate social responsibility is able to create value for its stake holders in the current economic conditions.

Aims and Objectives To identify the ways in which organisations are performing their corporate social responsibilities in the current economic conditions. To identify the ways in which the execution of a corporate social responsibility by an organisation creates value for its stakeholders.

Review of the Literature Corporate Social Responsibility According to the European Commission, the Corporate Social Responsibility (CSR) is the voluntary integration of social and environmental concerns of the companies in their business operations and in their relations with stakeholders (stakeholders). For the term Corporate Social Responsibility (CSR), there is no universally accepted definition (Brand Strategy, 2007, p. 47). Especially in the Anglo-American usage, but increasingly also in the German-speaking countries, are in the discussion about the role and responsibilities of business in society and related concepts such as corporate responsibility or corporate citizenship used (Habisch, Andr, et al, 2005, p. 35). Corporate Citizenship (CC) would thus

constitute only a part of corporate social responsibility and called on the company's commitment to the continuous commitment of companies to solve social problems in the local environment of the company. Thus, CC is reduced mainly due to sponsorship, donations and foundations. In European countries, has in the Green Paper the European Commission definition of CSR-embodied as a common understanding established. According to them, "It is a concept, whereby companies accept it as a basis to integrate voluntary social and environmental concerns in their business operations and in their interaction with their stakeholders" (Habisch, Andr, et al, 2005, p. 35). The definition of the European Commission called social and environmental concerns as the two key aspects of CSR. If we extend this to the economic concerns, we get the three dimensions of sustainability. In the modern understanding of CSR is increasingly seen as a holistic , understood all dimensions of sustainability integrating corporate concept that all social, environmental and economic contributions of a company voluntary assumption of social responsibilities that go beyond regulatory compliance (compliance) (Crowther, 2000, p. 20). The principle of voluntariness creates the question of the real motives of CSR. In most cases, is probably to assume that companies not only from altruism to act rather, they pursue economic goals - such as increased sales and profits. Increased attention to CSR is supported by the finding that corporate responsibility medium and longer term to increase the company's success contributes (business case) (Bansal, Roth, 2000, p. 717736). As an important motive appears possible to use CSR as a promotional measure and portray themselves as socially responsible company. This is seen as legitimate, as long as the actual sustainability performance is in line with the commitment communicated. However, if excessive exaggerations, half truths or individual aspects of unsustainable public beyond its core business (often with a lot of PR effort proved), it is called as green washing (Crowther, 2000, p. 20). After five years of process in September 2010, the ISO standard 26,000 Guidance on Social Responsibility was adopted. The certification is not viable standard is a guide to raise awareness of social responsibility and to promote a uniform terminology. The Guide integrates existing approaches to environmental and social responsibility (ILO core labor standards, GRI (Global Reporting Initiative), Global Compact, etc) and contains many examples of good CSR practices (best practices) (Crowther, 2000, p. 20).

Structuring by management responsibilities CSR activities can be structured in different ways, which are as follows:

Inner area of responsibility The inner area of responsibility describes the Company's obligations to the market (economy) and against the law. This area can only be assigned to the CSR, though even here there is a voluntary action. This occurs, for example, when laws are strictly enforced, although they are in the production countries not usually enforced, or if relocation would be easily possible. In this area of responsibility will include the profit of the company. In the public discussion is a widespread view, CSR implies the general waiver of corporate profits. The counter is that companies cannot afford to compete on behalf of CSR in general to give up profits and competitive disadvantages to take into account. There exist of course means higher profits, which are not compatible with CSR (such as neglect of safety standards, exploitation of employees, or violations of human rights). Accordingly, the question of the relationship between CSR and profit is to be considered differentiated (Orlitzky, Marc, et al, 2003, p. 403441). First, it should be noted that corporate profits in the market system is necessary and socially desirable. However, it is important to distinguish between responsible and irresponsible profit. Companies have a responsibility to the detriment of short-term profit by third parties refrain. Such a waiver is in the enlightened self-interest of companies, there can thus build up certain assets (such as integrity or credibility), which for the entrepreneurial ability to cooperate and social acceptance ("license to operate") are significant (Eisingerich, Ghardwaj, 2011, p. 18). This shows that there is such a waiver at the expense of short-term profit-third of an investment in the conditions of long-term business success. Sun CSR requires both investments, but opts for the other side of economic success effects (increase in financial performance, cost reduction) and non-economic success effects (building a positive reputation, risk avoidance, product and process innovations) to itself (Orlitzky, Marc, et al, 2003, p. 403441).

Middle responsibility The middle area of responsibility includes the value chain of the company. It includes commitments in relation to compliance with labor and environmental standards, but also a supply chain management (supply chain management) falls into this range. This stakeholder dialogue seems essential for successful CSR. Stakeholders are individuals or institutions who have a legitimate interest in the activities of a company, or are affected by its actions (Orlitzky, Marc, et al, 2003, p. 403441). Important stakeholders are equity and debt investors, workers and trade unions, customers and suppliers, residents, consumers and environmental groups, government organizations, media or general public. As part of the CSR, stakeholder dialogue is so important because they are the ones to which corporate responsibility may be made. Particularly for larger, publicly traded company, CSR has become an

important prerequisite for a good rating results and access to certain funds and capital market segments (Bhattacharya, Sen, et al, 2008, p. 37-44).

External responsibilities At this level, all activities are located, which are not covered by the above two areas of responsibility. These include the highly regarded aspects of CSR, such as donations (corporate giving), sponsorship or the cropping of staff for social activities (corporate volunteering). The outer area of responsibility corresponds to the understanding of corporate citizenship (Bhattacharya, Sen, et al, 2008, p. 3744).

Research Methodology Research Method and Design Appropriateness In order to address aims and objectives of this research, a mixed method approach will be the most appropriate for this study. The aim is to explore participants views of Corporate Social responsibility, the value it creates for the stake holders in the current economic conditions. Data gathered will aid in developing a questionnaire to get the responses for the topic under study. A different sample from the identified population will receive the questionnaire. The strategies used in mixed method approaches include explanatory, exploratory, transformative, or concurrent strategies (Burns, Grove, 2005, p. 58; Creswell, 2005, p. 63; Kumar, 2007, p. 34-44; Polit & Beck, 2005). The proposed study will employ an exploratory mixed method. This perspective reflects the purpose of the study and the research questions, which are the driving forces behind all methodological choices (Creswell, 2005, p. 63; Polit & Beck, 2005). The proposed study will involve two research stages. A qualitative stage will feature face-to-face interviews, followed by a quantitative stage which will employ a questionnaire. The first stage will explore the topic of study. Interviewing will offer a comprehensive picture on the topic being explored (Creswell, 2005, p. 63). This information will form the basis for the next stage and used to develop the questionnaire. This mixed method research approach will be exploratory in nature, one conducted in two parts with priority given to the earlier stage (Creswell, 2005, p. 63). The mixed method exploratory approach is most appropriate to address the research questions and achieve the proposed study goals.

Informed Consent Informed consent is an important component of research and is an integral part of the research process (Burns, Grove, 2005, p. 58; Creswell, 2005, p. 63; Neuman, 2005, p. 65; Polit & Beck; 2006). For the proposed study, the researcher will implement practical steps to ensure that all participants are educated about the proposed study in order to make an informed decision. Participation will be voluntary and individuals have the right to choose not to participate or to withdraw from either phase of the proposed study at any time.

Confidentiality Confidentiality is an important component that requires focused attention within the research process (Burns, Grove, 2005, p. 58; Creswell, 2005, p. 63). The researcher will carefully consider confidentiality in the proposed study for both the qualitative and the quantitative phase. The qualitative sample will include a purposeful selection of samples based on their knowledge of the central phenomenon. The selection will ensure the confidentiality and privacy of the participants. Only the researcher will approach potential participants.

Validity Validity assesses whether the meaning and interpretation of an event is sound or whether a particular measure is an accurate reflection of intent. Researchers will check for validity comparing findings of one instrument with findings from other instruments and conducting joint observations or collaborative marking of the same tests (Gerrish, Lacey, 2006, p. 71). The researcher will also enhance respondent validity by asking the participants to check their interpretations of the information provided or observed (Gerrish, Lacey, 2006, p. 71).

Reliability Reliability refers to the consistency of a measure, score, or test. Assessing reliability will be through stability, which relates to the extent to which repeated administration of the instrument produces the same results (Gerrish, Lacey, 2006, p. 71). For the quantitative part of the proposed study, the questionnaire will undergo a pilot test. Cronbachs Coefficient Alpha (Gerrish, Lacey, 2006, p. 71) will measure internal consistency for reliability. This measurement will apply to the quantitative instrument questionnaire because the questionnaire will use a Likerttype scale. A Likert scale uses a specific range from strongly agree to strongly

disagree. Cronbachs Coefficient Alpha offers a coefficient that approximates the consistency of scores on a particular instrument (Creswell, 2005, p. 63; Gerrish, Lacey, 2006, p. 71).

Data Analysis The researcher will analyze the qualitative part of the study using content analysis. This type of analysis provides an image of the participants perceptions, feelings, experiences, ideas, concerns, and attitudes (Cooper, Schindler, 2006, p. 33). For the proposed study, the content analysis process will involve a few steps. The researcher will transcribe and carefully read the interviews for completeness. The researcher will refer to the tapes of the interview in case of vagueness in words or statements and ask participants to clarify these issues. The researcher will exert increased efforts to clarify words and phrases during the interview. Furthermore, within research, there are different statistical processes for designing a study. Statistical analysis for example, gives meaning to the numbers collected within a particular study (Scanlan, 2001). The categories of statistical procedures include descriptive, associative, and inferential (Scanlan, 2001). Descriptive statistics depict events or individuals with some predetermined characteristics (Scanlan, 2001). Associative statistics attempt to determine meaningful interrelationships among or between data (Scanlan, 2001). Inferential statistics determine and assess the characteristics or attributes of a particular sample to generate generalizations about a specific population (Neuman, 2005, p. 65; & Scanlan, 2001). The meaning of statistical information depends on the clarity and precision of the problem and questions addressed within the topic under investigation (Neuman, 2005, p. 65; & Scanlan, 2001).

Industrial or commercial research contacts We will select an industry and make a visit to that industry, in order to gain some information related to the execution of corporate social responsibility by the organisation. The employees and the staff members will be interviewed. Furthermore, the people living in the surrounding will also be interviewed and asked to fill questionnaires, in order to gather information regarding the satisfaction of the people in relation to the company performing its task regarding the corporate social responsibility.

Problems

One of the issues that we might have to face while conducting our study is that we might not be able to get the permission to interview the employees and staff members of the organisation. There might be difference in the execution of corporate social responsibility by one organisation in comparison with that of the other organisation.

References

Bansal, P., Roth, R., (2000), "Why Companies Go Green: A model of Ecological Responsiveness", The Academy of Management Journal, 43(4). pp. 717736 Bhattacharya, C. B., Sen, S., Korschun, D., (2008), "Using Corporate Social Responsibility to Win the War for Talent", MIT Sloan Management Review, 49(2). pp. 37-44 Brand Strategy, (2007), "10 key things to know about CSR", London. pp. 47 Burns, N., Grove, S., (2005), The Practice of Nursing Research: Conduct, critique, and utilization, St. Louis, MO: Elsevier Saunders. pp. 58 Cooper, D., Schindler, P., (2006), Business Research Methods (9th ed.), New York, NY: McGraw-Hill Higher Education. pp. 33 Creswell, J., (2005), Educational Research (2nd ed.), Upper Saddle River, NJ: Pearson Education, Inc. pp. 63 Crowther, (2000), "Social and Environmental Accounting", London: Financial Times Prentice Hall. pp. 20 Eisingerich, A. B., Ghardwaj, G., (2011), "Corporate Social Responsibility: Does Social Responsibility Help Protect a Company's Reputation?", MIT Sloan Management Review 52. pp. 18 Gerrish, K., Lacey, A., (2006), The research process in nursing (5th ed.), Malden, MA: Blackwell Publishing Ltd. pp. 71 Habisch, Andr, Jonker, J., Martina, Wegner R. Schmidpeter, (2005), Corporate Social Responsibility across the Europe, Heidelberg: Springer. pp. 35 Kumar, M., (2007), Mixed methodology research design in educational technology, Alberta Journal of Educational Research, 53(1). pp. 34-44 Neuman, L., (2005), Social research methods: qualitative and quantitative approaches (6th ed.), Boston, PA: Allyn and Bacon. pp. 65 Orlitzky, Marc, Frank, L., Schmidt, Sara L. Rynes, (2003), "Corporate Social and Financial Performance: A Meta-analysis", Organization Studies (London: SAGE Publications), 24(3). pp. 403441 Saether, Kim, T., Ruth, V., Aguilera, (2008), "Corporate Social Responsibility in a Comparative Perspective", The Oxford Handbook of Corporate Social Responsibility. Oxford: Oxford University Press. pp. 45

Scanlan, C., (2001), The role of statistical analysis in research. Retrieved January 22nd 2010 from http://www.umdnj.edu/idweb/shared/statslct.htm

Appendix

Gantt chart

TASKS Construct research proposal Draw up questionnaires Submit proposal Timetable interviews Begin interviews, observations, focus groups and hand out questionnaires Analysis and redefine problem(s) Implement findings Prepare draft report Begin full data analysis Write the Research paper

WEEKS 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31

Time Scale

Time is an important factor when considering project work. One needs time to allow adequate problem diagnosis before decisions are made about appropriate strategies and means of implementation, however, this must remain flexible to allow for unforeseen factors.

Timescales have to be appropriate, realistic and achievable. According to researchers, a general guide for any extended project or research is to plan to use only 75% of the supposed time available, which should be tentatively allocated as follows: -

Introduction Literature review Research methods Data collection Analysis

5% 35% 10% 20% 15%

Conclusions and recommendations 10% References and appendices 5%

Scientific and experimental work may have the data collection part extended, particularly in higher degrees. The boundaries are not set and reading literature should be throughout the research. To do my research project I should allow approximately 30 weeks from start to finish. This timetable is going to be used as a rough guide as to when certain aspects of the project should start and finish.

CYCLE ONE

WEEK 13

TO DO Construct research proposal Draw up questionnaires Submit proposal to the supervisor Collecting data from various sources Compiling and formatting the data in

Permission Literature Review

45 6 79

sequence

15 17 CYCLE 2 Discussion Complete Research Paper 17 20 21 26 27 30

Implement findings from cycle 1 Prepare draft report Discussion based on literature review Write ______ word research paper