Description
Exploring the Role of Corporate Social Responsibility in International Business Practices: A Multi-Method Study
Abstract
As multinational corporations increasingly understanding the need to strike a balance between financial success along with the societal and environmental duties, corporate social responsibility. CSR emerges a crucial component of modern corporate practices in international business. It is becoming essential in this new era of globalization that businesses generates not only a profit but also contribute positively to the ecosystems and communities in which they operate. Companies must learn how to adapt their CSR strategies in accordance with diverse cultural as well as economic, and more over legal contexts in global marketplaces as these strategies evolve. The intention of the research is to exploring the role of CSR in international business practice. This particular study intends to understand how MNCs planning moreover executing and implementing CSR strategies. Keeping in mind that the practices of CSR in international business impacting company’s corporate reputation, financial outcomes, as well as its market position.
The study adopting a multi-method approach which includes both quantitative as well as the qualitative data. However, case studies regarding global businesses in a variety of sectors provide deep perceptions into the implementation moreover development of CSR approaches. For a more comprehensive stakeholder viewpoint from investors as well as employees, and customers, surveys have been conducting. CSR is increasingly being viewed as a strategic tool for creating stakeholder confidence, enhancing brand value, and positioning businesses as leaders in the field of environmental responsibility. CSR activities enhancing the financial performance and corporate reputation. It vary considerably by area due to cultural as well as legal, and economic factors.
The study discussing the importance of corporate social responsibility to global business. The CSR helps organizations to achieve corporate success and social benefits. Even though there are still challenges, particularly in balancing profit-making and social and environmental responsibilities. Companies that emphasizing CSR that have a better competitive edge in the global marketplace. The findings are informative to firms seeking to enhance their CSR strategies. This will eventually leads to more responsible and sustainable business practices worldwide.
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Corporate Social Responsibility in International Business
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