Proceedings of Annual Tokyo Business Research Conference
15 - 16 December 2014, Waseda University, Tokyo, japan, ISBN: 978-1-922069-67-2
Outcome of Corporate Social Responsibility initiatives of
Business Organisations and Impacts on Customer Buying
Practices
Ponnusamy Manohar
Corporate Social Responsibility (CSR) has assumed greater significance and has
become a worldwide concept whereby business organisations consider the
interests of society by taking responsibility for the impact of their activities on
customers, employees, shareholders, communities and the environment in all
aspects of their operations. It is one of the most important global issues with
serious challenges and implications on almost all sectors. Today, more than ever,
organizations are focused on environmental and social responsibility as a strategy
for long-run relationship and conducting business in a sustainable manner.
In a market oriented economic structure, corporate sector is the prime mover of
economic growth. It is, therefore, imperative that it comes forward and shares the
responsibilities for redistributive and inclusive growth. Corporate social
responsibility (CSR) promotes a vision of business accountability to a wide range
of stakeholders including the disadvantaged, besides shareholders and investors.
Key areas of concern are environmental protection and the wellbeing of
employees, continued relationship with customers, community and civil society in
general, in the present and in the future.
The concept of CSR is underpinned by the idea that corporations can no longer
work as isolated economic entities operating in detachment from broader society.
Traditional views about competitiveness, survival and profitability are being swept
away.
The aim of this paper is to study the impact of CSR initiatives of the business
organisations in Papua New Guinea and its association on financial and customer
buying practices and to offer suggestions to inspire business organisations to treat
and practice CSR as a strategy of sustainable growth.
The study is conducted using the primary and secondary sources of data and
information from various business organisations both private sector and StateOwned Enterprises (SOEs) and international and domestic companies.
Key Words: Corporate Social Responsibility, Customer buying practices, Customer
loyalty
Field: Management
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School of Business Administration, University of Papua New Guinea, PO Box: 320, University PO,
National Capital District, Papua New Guinea, E-mail: pomanoha@upng.ac.pg Tel: +675 76860648