Business and management research project, focusing on CSR and its Essay

Business and management research project, focusing on CSR and its relevant themes. Develop an appropriate and feasible research - Essay Example Thus, they are instruments to sharing news of this positive happening to the society acting as mediators that channel information from the company to their main audience. Indubitably, media companies have an edge in information dissemination because that is their business, but this strength may become their weakness as they become exposed to controversies that predominantly affect their integrity and reputation. Although several studies about CSR are now in existence, there are only a few that focus on the media and entertainment industry, in particular, the media companies. Thus, a study on this matter is proposed to uncover the reality that is taking place in this industry. The objectives of the study are given as follows. To investigate the relationship between CSR, business reputation, and profit To examine CSR in the context of UK media companies To assess the impact of CSR to the reputation and profitability of media companies To determine whether media companies are socially r esponsible and on how their being socially responsible helped in enhancing their reputation and profitability The proposed research targets to contribute factual and reliable information in regard to the issue on CSR that may as well become a reference for future CSR studies. In addition, it seeks to increase society’s knowledge about CSR by means of utilising media companies as the focus of the study. 2. Literature Review Since the 90s up to present, the concept of corporate social responsibility (CSR) has been receiving overwhelming attention from academic researchers (Crane, et al., 2008, p.3). The arguments in performing CSR research are often in connection with the business itself as a part of society that is obliged to contribute something for it to progress (Crane, et al., 2008, p.3). There is a never-ending issue concerning the responsibility of businesses to the society apart from earning a profit for its owners and shareholders (Benn & Bolton, 2011, p.ix). In the en d, the point at issue is the benefit that a business will reap out of doing well (Benn & Bolton, 2011, p.ix). This concern again raises another issue in respect to how CSR is used for profit maximisation instead of using it as a tool to recognising the business’ societal, moral obligations (Benn & Bolton, 2011, p.ix). The real motive of a business into incorporating CSR initiatives is, therefore, altercated by the academes and business practitioners (Benn & Bolton, 2011, p.ix). The concept of CSR has gone a long way of acceptance and rejection prior to becoming a fundamental area of concern for business practitioners (Crane, et al., 2008, p.3). Studies have been conducted through the years, which have attempted to explain CSR in the context of different types of business. In the study of Knox and Maklan (2006), the increasing impact of CSR to leading multinational firms was examined. Knox and Maklan (2006, p. 4) argue that the notion of a business being socially responsible i s already acknowledged by a majority of people. Still, they believe that the problem lies in the fact that no systematic framework is there to guide firms in understanding the connection between business investments and on how this can be used to perform social responsibilities (Knox & Maklan, 2006, p.34). Knox and Maklan (2006) have contended that different companies must apply a varying approach to CSR that is standard to their business type in