References
Licite, L., & Smertjeva, A. (2017). Corporate Social Responsibility – One of Prerequisites for Sustainable Development in the Banking Sector. Economic Science for Rural Development Conference Proceedings, (46), 109–117. Retrieved from http://search.ebscohost.com.ezproxy.library.wwu.edu/login.aspx?direct=true&db=a9h&AN=123106039&site=ehost-live
The author, a researcher from the Latvia University of Agriculture, use a case study from the Economic Science for Rural Development Conference Proceedings to show that it is necessary for banks to implement corporate social responsibility through the environment, the economy, employees, and the general public to create a trust and loyalty in their customers and employees. Via economically contributing to their country’s economic profit and development with strict stipulations on environmental protection, corporate social responsibility programs constructed an allegiance in their employees and customers; thus, a fundamental necessity for the sustainable development of banking enterprises. This development is a forthright of the banks profits causing exponential growth and substantial financial achievement in the expansion of their country’s economy.
Amin, M., Aldakhil, A., Wu, C., Rezaei, S. and Cobanoglu, C. (2017), “The structural relationship between TQM, employee satisfaction and hotel performance”, International Journal of Contemporary Hospitality Management, Vol. 29 No. 4, pp. 1256-1278.
This is an article from the International Journal of Contemporary Hospitality Management about the direct effects of Total Quality Management integration and Its effects on employee satisfaction in the workplace. Happy employees are loyal and want to support their team. Further improving the profits and performances of businesses and in this particular case hotels. A judgement sampling technique is used in this study. Which is non random sampling where the choice of the sample depends on professional judgement. Distributed to multiple levels of a company for the purpose of finding out about the relationships between employee satisfaction and Total Quality Management.
Caligiuri, P., Mencin, A., & Jiang, K. (2013). Win-Win-Win: The Influence of Company-Sponsored Volunteerism Programs on Employees, NGOs, and Business Units. Personnel Psychology, 66(4), 825-860. https://doi-org.ezproxy.library.wwu.edu/10.1111/peps.12019
This article assesses the benefits on certain target groups such as employees and non-governmental organizations from the implementation of volunteer programs as well as analyzing the specific conditions and groups in which these benefits are maximized. The article takes into account how a company can reinvest their resources back into the organization by implementing volunteer programs that are related to corporate social responsibility in hopes to maximize their stakeholders benefits. The study goes on to show positive relationships between investment towards corporate social responsibility that include increased innovation, risk management, consumer preference, ect. The study concludes that investing in corporate social responsibility, specifically corporate volunteerism, is a sure way to increase employee engagement and diversify skills all while benefiting stakeholders, including the society at large.
Allan, B. A., Duffy, R. D., & Collisson, B. (2018). Helping others increases meaningful work:
Evidence from three experiments. Journal of Counseling Psychology, 65(2), 155–165. Retrieved from http://web.a.ebscohost.com.ezproxy.library.wwu.edu/ehost/pdfviewer/pdfviewer?vid=18&sid=c86e7e83-5f52-400a-afc3-e5d625479da7%40sdc-v-sessmgr01
This is a study that was conducted and published in the Journal of Counseling Psychology that explores the effects of how helping others influences one’s work ethic. The authors ran three studies in order to gather data to further test the theory that helping others leads to more meaningful work. The first study was run on college students, the second on employees, and the third on employees of a university. The study concluded that when an individual is doing, or perceives they are doing work for another they gain more from the work, making it more meaningful. This study in turn helps to provide employers with ways in which they can increase their employees a sense of purpose. This study relates to the topic of corporate social responsibility in that it not only benefits the public who the employees are working for but the employees themselves.
Gartenberg , C., & Serafeim, G. (2019). 181 Top CEOs Have Realized Companies Need a
Purpose Beyond Profit. Harvard Business Review. Retrieved from http://web.a.ebscohost.com.ezproxy.library.wwu.edu/ehost/pdfviewer/pdfviewer?vid=17&sid=c86e7e83-5f52-400a-afc3-e5d625479da7@sdc-v-sessmgr01
This article discusses the need for corporations to focus on a purpose more than just profit. Focusing on stakeholder profit alone leads to corruption in many cases, by ignoring their social responsibility to all of their constituencies (main five) many corporations focus their attention and resources on benefiting themselves internally versus externally. When given a corporate purpose beyond profit the company in fact becomes more profitable and the employees of a company feel greater satisfaction in their work. In order for this to take effect CEOs need to focus on bringing the purpose down through the levels of management, ensuring all levels understand how to achieve this purpose.
Schreck, P. (2011). Reviewing the Business Case for Corporate Social Responsibility: New Evidence and Analysis. Journal of Business Ethics, 103(2), 167-188. Retrieved from http://www.jstor.org.ezproxy.library.wwu.edu/stable/41476019
This is a review of a previously conducted study that takes into account the financial statistics of Corporations who decide to implicate ‘corporate responsibility’. The authors analyze the corporate social performance in comparison to the corporate financial performance in hopes of defining a correlation between specific gains in corporate success due to gains in environmental and social considerations. Due to the length of this report, several conclusions are drawn about the relationship between CFP (corporate financial progress) and a series of other business components including; employee satisfaction, marketing success, management success, and others. In addition, this peer reviewed study responds to previous studies conducted along these same lines. This helps structure a stronger argument for corporate social responsibility.
Pizzi, S. (2018). “The Relationship between Non-Financial Reporting, Environmental
Strategies and Financial Performance: Empirical Evidence From Milano Stock Exchange. Department of Economic Sciences, 15 Nov. 2018. https://www.mdpi.com/2076-3387/8/4/76/htm
This is a report from an Italian stock market observing environmental strategies and how it correlates with the non-financial/financial reporting of businesses. It illustrates a compelling relationship between strong financial reports and strong environmental practices. This report also goes into some of the social responses to such business practices and highlights stockholders budding interest in environmentally responsible investing. Standards for evaluating ‘environmental standards’ follow guidelines that relate to the ‘triple-bottom line’ approach. This report shows strong support for incorporating CSR practices to better financial longevity.
Ford, Sarah. “The Business Case for Employee Volunteer & Skills Giving Programs.”
America’s Charities, 19 Apr. 2019, https://m.charities.org/news/business-case-employee-volunteer-skills-giving-programs
This article written by Sarah Ford for American Charities discusses how volunteer work greatly impacts corporate employee performance. With evidence and research to back up her statements she explains how employees will feel more motivated when given the opportunity to help others. This in turn will increase productivity within the workplace and reduce turnover rates. She talks about how this will help the company to benefit financially. This article backs up the idea of CSR as well as employee satisfaction.