Does Being Socially Responsible Impact Corporate Sales Revenue Research Paper

Does Being Socially Responsible Impact Corporate Sales Revenue - search Paper ExampleAs it has been said that the business has to return something back to the nightclub where it is operating and it is the responsibleness of the corporations operating in the society to return back and this has been termed as Corporate Social Responsibility. The fundamental goal of the business is to provide the sh atomic number 18holders with profits as Milton Friedman wrote in his article the only social office of the business is to increase the business profits of the shareholders, yet CSR has played an important role in influencing the node to purchase the orders product (Beurden, and Gossling, 407-408)In recent decades the concept of corporate social responsibility has gained a lot of support from businesses as well as the society as this strategy provides the family to survive and differentiate itself in the market environment. This strategy is aimed to provide the customers with the pro ducts according to their need by ensure the eco-friendly environment and the advancement of the society. 1.2. BACKGROUND OF THE RESEARCH By applying the concept of corporate social responsibility the businesses are said to have higher impact on the sales of the companys product. It had been noted that the company that implements the social responsibility have higher sales volume than other companies. It has also been found that this rising trend has gained exceptional popularity with the passage of time as this social responsibility focuses on the economic, ethical and statutory comp peerlessnts rather than focusing on single idea of profit for the stakeholders. Corporate social responsibility is one of the business strategies that business people have shown their support for as this strategy focuses on responding to the society priorities and expectations with favorableness and willingness. The economic component focuses on the profitability of the company. This is the foundati on of the business that keeps the business keep going on. The aid component of the corporate social responsibility is the ethical which focuses on the commitment to do what is right and to block any process that might harm the environment or the society. The last but not the least component of CSR is the legal component which is to obey the laws and regulations of the country and to do what is acceptable by the country and to lift those procedures that are ignored by the society. 1.3. IMPACT OF CSR ON BUSINESS Corporate social responsibility plays an infixed role in the success of the business. It not only retains the employees and the customers of the company cod to their higher satisfaction take but also helps the company to attain new customers on behalf of their contribution towards the sustainable development of society (Jose and Patrice, 4). Corporate social responsibility helps the company to enjoy many benefits. Some of the benefits that a company enjoys due to such a strategy are strengthened brand positioning,