The Impact of Corporate Social Responsibility on Business Performance - Malte Kaufmann.Pdf Uploaded Successfully
THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON BUSINESS PERFORMANCE – CAN IT BE MEASURED, AND IF SO, HOW?
The Berlin International Economics Congress 2012, March 7th-10th, 2012 Presented by Dd. Dipl.-Vw. Malte Kaufmann, The Bucharest Academy of Economic Studies malte.kaufmann@immo-kaufmann.de and Prof. Marieta Olaru, Ph. D., The Bucharest Academy of Economic Studies olaru.marieta@gmail.com
Abstract This paper examines the question of measurability of the impact of Corporate Social Responsibility on Business Performance. It starts with describing newer trends of measuring business performance, showing that one can observe a shift from the classical short-term analysis with particular focus on indicators like shareholder value, revenue and market share toward taking also into account soft indicators, such as employee and customer satisfaction, that contribute to the long-term success of a company. This approach is shown based on the European Foundation of Quality Management (EFQM) criteria. The paper goes on to give an overview of latest trends in the field of Corporate Social Responsibility and then offers a possible way to measure its impact on Business Performance on the basis of the stakeholder concept. It reflects results from ongoing research and was written for presentation at the Berlin International Economics Congress, 2012. Keywords Corporate Social Responsibility, Business Performance, European Foundation of Quality Management (EFQM), Stakeholder concept
1
Introduction In the refined CSR strategy set forth by the European Commission in 2011 as well as in many past and recent scientific publications, a considerable focus is being set on the benefit of CSR to society as a whole. Consequently, much effort is being made to promote CSR in all member states and companies of all sizes. Furthermore, member states are not only asked to update their individual CSR strategies, but also to prepare for some further regulatory intentions. Some business
The Berlin International Economics Congress 2012, March 7th-10th, 2012 Presented by Dd. Dipl.-Vw. Malte Kaufmann, The Bucharest Academy of Economic Studies malte.kaufmann@immo-kaufmann.de and Prof. Marieta Olaru, Ph. D., The Bucharest Academy of Economic Studies olaru.marieta@gmail.com
Abstract This paper examines the question of measurability of the impact of Corporate Social Responsibility on Business Performance. It starts with describing newer trends of measuring business performance, showing that one can observe a shift from the classical short-term analysis with particular focus on indicators like shareholder value, revenue and market share toward taking also into account soft indicators, such as employee and customer satisfaction, that contribute to the long-term success of a company. This approach is shown based on the European Foundation of Quality Management (EFQM) criteria. The paper goes on to give an overview of latest trends in the field of Corporate Social Responsibility and then offers a possible way to measure its impact on Business Performance on the basis of the stakeholder concept. It reflects results from ongoing research and was written for presentation at the Berlin International Economics Congress, 2012. Keywords Corporate Social Responsibility, Business Performance, European Foundation of Quality Management (EFQM), Stakeholder concept
1
Introduction In the refined CSR strategy set forth by the European Commission in 2011 as well as in many past and recent scientific publications, a considerable focus is being set on the benefit of CSR to society as a whole. Consequently, much effort is being made to promote CSR in all member states and companies of all sizes. Furthermore, member states are not only asked to update their individual CSR strategies, but also to prepare for some further regulatory intentions. Some business
References: Cf. Taticchi, P., A. Asfalti, et al. (2010). Performance Measurement and Management in SMEs: Discussion of Preliminar Results from an Italian Survey. Business Performance Measurement and Management. P. Taticchi. Berlin, Heidelberg, Springer. Donaldson, T., Preston, L. (1995). "The stakeholder theory of the corporation: Concepts, evidence, and implications." Academy of Management Review 20: p. 65-91.