Influence of corporate social responsibility initiatives on the corporate image and reputation of an organization

Abstract

In recent times, Corporate Social Responsibility initiatives have become a priority of the business organizations worldwide in the wake of increasing competition among the organizations to win customers through establishing their goodwill in the society by the way of undertaking social service activities including donations to charities, community outreach programs, efforts to improve employee diversity, and reducing environmental impact etc. Recent research has shown that the business organizations benefit from CSR activities as well since they enhance their image among their customers and increase their attractiveness to potential and existing stakeholders. As a result, CSR initiatives have become an integral part of business practice, regardless of the organization's type of markets, and the businesses now allocate hefty amounts in their annual budgets to make what they call it as 'investment' in the social service areas.