A Theoretical Framework For Managing CSR Plans And Related Initiatives In The Modern Business Environment

Abstract

Organisations can make a valuable contribution in alleviating poverty and improving the general living standards of society. In the modern turbulent business environment, characterised by intense competition and customers demanding corporate responsibility, it further seems that a well-managed corporate social responsibility (CSR) plan could assist executives in winning the hearts and minds of their customers. Regular interactions with stakeholders on CSR initiatives can also assist executives in identifying trends in the market and introducing innovations. CSR can further be used as a strategic tool to manage the reputation of the organisation. Consequently, the purpose of this paper is to provide a theoretical framework on guidelines that organisations could implement to manage their CSR plans and CSR-related initiatives more effectively. A number of secondary sources, including textbooks and previous research studies, were consulted in compiling the proposed framework which includes actions that executives could take to design and implement their CSR plans more effectively. In addition, principles for the effective management of CSR-driven innovations and reputation management initiatives are also provided. The framework also focuses on guidelines for the types of social media initiatives that would need to be incorporated into the executives strategic plan to ensure that the strategy implemented is truly competitive. The paper concludes with a number of recommendations that could be further investigated in a follow-on empirical study to provide further assistance to organisations wishing to survive and grow their businesses in the modern turbulent business environment. The paper is relevant to executives requiring guidance on implementing their CSR initiatives more successfully and contributes to the improvement of organisational behaviour within the socially responsible environment.