BUSN20019 Professional Project Proof Reading Services

BUSN20019 Professional Project Oz Assignment

BUSN20019 Professional Project Proof Reading Services

Introduction:

Schwartz (2017) defines corporate social responsibility as the operational methods of operations of business organizations in which they modify their methods of operations to benefit the society besides earning profits. The business development organizations today adopt corporate social responsibilities to exhibit their responsibilities as members of society. They perform various activities to contribute the welfare of the society and environment. Grayson and Hodges (2017) points out those corporate social responsibilities enable organizations to boost their business. The researcher would visit this important relationship between corporate social responsibilities and business generation. The researcher in order to render stronger base to his research would consider Woolworths, the leading Australian retail chain as the crux of study.

Organization of the project:

The organization the researcher has chosen for his research is the largest retail chain in the Australian retail industry, Woolworths, the retail subsidiary of the Australian business conglomerate, Woolworths Group. The supermarket chain is based on New South Wales, Australia and has over nine hundred stores in Australia. The product line of the retail chain consists of fruits and vegetables, dairy products, meet products, non-alcoholic drinks, alcoholic drinks, and baby food and skincare products. The retail chain adopts corporate social responsibilities as a part of its core business strategies. This is evident from the very product line of the supermarket store. The supermarket sells a variety of organic products which includes meat products, skincare products and food products (woolworths.com.au, 2018). The supermarket charges higher prices for these locally made organic products compared to the inorganic products. This ensures that the supermarket chain is able to give higher returns to the local producers and bring about their economic development. The supermarket and its business conglomerate mother company raise funds to help farmers in Australia suffering from drought. These strong applications of corporate social responsibilities have strengthened the brand power of the retail besides establishing it as the leader in the Australian retail sector. This strong relationship between the core business of Woolworths and its CSR has made it a worthy substratum to base the research on.

Conceptual framework:

Corporate social responsibilities enable organizations to strengthen their market goodwill. The organizations like retail chains sell organic products which they acquire the local farms. They organic products like beef and fruits enable the local agriculturists to sell their products to international retail chains and earn higher revenue. Thus CSR enable retail chains to bring about economic development among the local population which strengthens their goodwill.

Research aim:

The aim of the research is to study the relationship between business generations in business companies and their corporate social responsibilities. Kolk(2016) mentions that corporate social responsibilities enable the companies to contribute to the social development. However, Epstein (2018) points out that corporate social responsibilities today enable business organizations to strengthen their goodwill which ultimately help in generation of business. It is which relationship between CSR and business generation which the researcher would explore. 

Research question:

The question on which the research would stand on in its entirety is:

What is the relationship between CSR and business generation?

Preliminary literature review:

Corporate social responsibility models:

AsperSchwartz(2017) corporate social responsibility refers to the concept that the business organizations today as important members of the society strives to bring about its development. The business organizations today contribute towards social development in association with government bodies or solitarily. They support various social initiatives like raising funds to help the farmers and recycling wastes to reduce their harmful impacts on the environment (Ni & Van Wart, 2015).

Traditional conflict model:

Fairlie and Svergun(2015) point out tht the traditional corporate social responsibilities model can be defined as the model which consider social responsibilities to be in conflict with the interests. This can be attributed to several factors which dominate the extremely competitive retail sector of markets like Australia. First, the retail chain requires immense capital to operate which is not feasible for a private limited company or a sole proprietorship firm. This can also be attributed to the fact the leading retail chains are subsidiaries of holding which are listed on the ASX. Flannery (2016) point out that this means that leading retail chains are able to sources capital from the market and their operations are largely dependent on the support of the investors. This places legal and ethical obligations on the retail chain to bring about maximization of the capital of the shareholders. This has two positive impacts on these retail chains. First, this advertises the financial strengths of the retail chains and secondly, attracts more investments. Malmendier and Tate (2015) point that social services do not earn financial income and hence does not apparently lead to maximization of the shareholders’ funds. That is why the traditional conflict model considers the corporate social responsibilities as a violation of shareholders’ interests. The model, in other words does not consider CSR as a part of the core business strategies since it does not earn financial profits.

Added value model:

The added value model of CSR as Jamali, El Dirani and Harwood (2015) point out stands on the belief that though CSR does conflict with the shareholders’ interests; it also helps to generate new revenue to certain extent. Rangan, Chase and Karim(2015) point out that this model, though not completely, contradicts the traditional conflict model of CSR. While the traditional conflict model focuses on the shareholders’ interests of capital maximization, it does not explore the motivators of investments. Ding, Au and Chiang (2015) while opposing the traditional conflict model points out that though investors consider capital maximization while making investment decisions, it is not the only investment criteria. The investors take into consideration factors like goodwill of the companies and its future revenue generation capability. Wellhausen(2015) points out that this model though does not openly addresses CSR as a core business component, accepts its significant role in business generation. This is because CSR enables organizations create strong market goodwill which enables them to attract more business partners including customers. It can also be the goodwill is an asset which firms show on their balance sheets and have tremendous importance in measuring their value capture. Seabrooke and Wigan (2017) mention that retail chains today hold their own trademarks. They employ asset management firms to manage their goodwill and IPRs. Thus, it is evident from the discussion that though CSR does not generate profits according to added model theory, it paves path of business generation.

Multiple goals model:

The multiple goals model of corporate social responsibilities as Hossain and Al-Amin (2016).point out finally accepts corporate responsibilities as a significant component of the business operations. Wong and Dhanesh(2017) point out that this model contradicts with the traditional conflict model. The model in fact points out those investors do not take into consideration the present profit generation but also the future sustainability of the retail chains. They consider factors like market goodwill and revenue generation capability of the products the firm markets. They also take into account factors like acquisitions and mergers and supply chain management of the retail chains. This is where corporate social responsibility steps in to ensure the investors gain high profits (Rebai, Azaiez&Saidane, 2016). The involvement in the CSR models enables the retail organizations participate in social development which strengthens their businesses. Thus, it can be inferred from the analysis brings about more business generation.

CSR andcontingentplanning:

Jiang et al.(2018) points out that CSR enables retail chains to create a contingency and tide over challenges like economic downturns. Wong and Dhanesh (2017) point out in this respect that the retail chains are facing hostile situations. Their CSR act as goodwill instrument and help to attract business. Consumers buy products from retails they trust due to low availability of income during economic disturbances. The goodwill and the customer loyalty of the retail chains enable them to attract consumers. Thus, CSR helps business organizations generate business during tough times and serves as a part of their contingent plan. Thus, it can be inferred from the discussion that CSR boosts the generation of business in companies.

Research methodology:

The researcher would use secondary sources of information like articles, magazines and internet to gain information. Since, corporate social responsibility is a vast topic, the researcher would require consulting a large variety of secondary sources of information to develop in depth knowledge. He can in addition conduct surveys or interview people to gain primary data regarding CSR.

Gantt chart

The Woolworths conduct a feasibility report before implementing its corporate social responsibility. The budget and the Gantt chart showing the implementation of CSR are attached. The budget clearly shows that a CSR project may suffer losses but gradually start earning profits in second and third years onwards.

Task Mode

Task Name

Duration

Start

Finish

Predecessors

Auto Scheduled

Establsihment of CSR in Woolworths

15.05 mons

Mon 9/3/18

Mon 10/28/19

 

Auto Scheduled

Conducting market resesrach of Australia

3 mons

Mon 9/3/18

Fri 11/23/18

 

Auto Scheduled

Making strategies

1 mon

Mon 11/26/18

Fri 12/21/18

2

Auto Scheduled

Obtaining approval form government

1 mon

Mon 12/24/18

Fri 1/18/19

3

Auto Scheduled

Preliminary Investigation

1 mon

Mon 1/21/19

Fri 2/15/19

4

Auto Scheduled

Assembling all the Preliminary Data

1 mon

Mon 2/18/19

Fri 3/15/19

5

Auto Scheduled

Researching the Data

2 mons

Mon 3/18/19

Fri 5/10/19

6

Auto Scheduled

Compiling the Data

2 mons

Mon 5/13/19

Fri 7/5/19

7

Auto Scheduled

Submission of the Draft

0.05 mons

Mon 7/8/19

Mon 7/8/19

8

Auto Scheduled

Continuation of the Research

2 mons

Tue 7/9/19

Mon 9/2/19

9

Auto Scheduled

Assembling New Informations

2 mons

Tue 7/9/19

Mon 9/2/19

9

Auto Scheduled

Identification of the Sample

2 mons

Tue 7/9/19

Mon 9/2/19

9

Auto Scheduled

Selecting The Number of Sample Size

2 mons

Tue 7/9/19

Mon 9/2/19

9

Auto Scheduled

Interviewing The Sample Population

2 mons

Tue 7/9/19

Mon 9/2/19

8

Auto Scheduled

Researching on the Avialable Data

2 mons

Tue 9/3/19

Mon 10/28/19

10

Auto Scheduled

Compiling the Total Data

2 mons

Tue 9/3/19

Mon 10/28/19

2

Auto Scheduled

Assembling and Preparing the final Report

1 mon

Tue 9/3/19

Mon 9/30/19

3

Auto Scheduled

Final Submission to apex management of Woolworths

1 mon

Tue 9/3/19

Mon 9/30/19

4

References:

1. Ding, Z., Au, K., & Chiang, F. (2015). Social trust and angel investors' decisions: A multilevel analysis across nations. Journal of Business Venturing30(2), 307-321.
2. Epstein, M. J. (2018). Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. Routledge.
3. Fairlie, P., &Svergun, O. (2015). The interrelated roles of CSR and stress in predicting employee benefits outcomes. In International Conference on Occupational Stress and Health, Atlanta, USA.
4. Flannery, M. J. (2016). Stabilizing large financial institutions with contingent capital certificates. Quarterly Journal of Finance6(02), 1650006.
5. Grayson, D., & Hodges, A. (2017). Corporate social opportunity!: Seven steps to make corporate social responsibility work for your business. Routledge.
6. Hossain, M. S., & Al-Amin, M. (2016). Best model of CSR: An analysis of the impact of corporate social responsibility for improving the social development of the stakeholders-A study on four private commercial banks. International Journal of Information, Business and Management8(2), 74.
7. Jamali, D. R., El Dirani, A. M., & Harwood, I. A. (2015). Exploring human resource management roles in corporate social responsibility: the CSR?HRM co?creation model. Business Ethics: A European Review24(2), 125-143.
8. Jiang, F., Zalan, T., Herman, H. M., &Shen, J. (2018). Mapping the relationship among political ideology, CSR mindset, and CSR strategy: A contingency perspective applied to Chinese managers. Journal of Business Ethics147(2), 419-444.
9. Kolk, A. (2016). The social responsibility of international business: From ethics and the environment to CSR and sustainable development. Journal of World Business, 51(1), 23-34.
10. Malmendier, U., & Tate, G. (2015). Behavioural CEOs: The role of managerial overconfidence. Journal of Economic Perspectives29(4), 37-60.
11. Ni, A., & Van Wart, M. (2015). Corporate Social Responsibility: Doing Well and Doing Good. In Building Business-Government Relations (pp. 175-196). Routledge.
12. Rangan, K., Chase, L., & Karim, S. (2015). The truth about CSR. Harvard Business Review93(1/2), 40-49.
13. Rebai, S., Azaiez, M. N., &Saidane, D. (2016). A multi-attribute utility model for generating a sustainability index in the banking sector. Journal of Cleaner Production113, 835-849.
14. Schwartz, M. S. (2017). Corporate social responsibility. Routledge.
15. Seabrooke, L., &Wigan, D. (2017). The governance of global wealth chains. Review of International Political Economy24(1), 1-29.
16. Wellhausen, R. L. (2015). Investor-state disputes: when can governments break contracts?. Journal of Conflict Resolution59(2), 239-261.
17. Wong, J. Y., &Dhanesh, G. S. (2017). Communicating corporate social responsibility (CSR) in the luxury industry: managing CSR–luxury paradox online through acceptance strategies of coexistence and convergence. Management Communication Quarterly31(1), 88-112.
18. woolworths.com.au. (2018). Retrieved from https://www.woolworths.com.au/shop/browse/health-beauty/shower-bath-soap/body-wash?pageNumber=2