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Corporate social responsibility: the way forward? Maybe not!

Ioanna Papasolomou · Maria Krambia‐Kapardis · Marios I. Katsioloudes

145 citations0/0 files storedEuropean Business Review

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Corporate Social Responsibility Reporting Corporate Social Responsibility and Sustainability Corporate Identity and Reputation

Abstract

Purpose The paper seeks to consider the findings that emerged from a preliminary study into Cypriot businesses and their attitudes and behaviour towards corporate social responsibility (CSR). The overarching aim of the discussion is to explore whether Cypriot businesses have realized the opportunity of using CSR to build a strong reputation, a practice “embraced” and adopted by many successful and profitable corporations, or whether they ignore their social responsibilities and do it at their peril. Design/methodology/approach A total of 4,000 questionnaires were given to the Employers Federation in Cyprus to mail to its members. Two issues were addressed: one dealing with philanthropic and the other with the stewardship CSR projects, covering social responsibility not only towards customers and society at large but also towards employees, suppliers, investors, and the environment. Findings It appears that local corporations primarily emphasize the importance of meeting their responsibilities and obligations towards their employees and customers. The majority of respondents postulate that their philanthropic donations are made to approved organizations for tax deduction. So, financial gain appears to be a key motive for the adoption of social responsibility by the business sector in Cyprus. Research limitations/implications The study was characterized by a low response rate, which has implications to the generalization of the research findings. Perhaps future research can focus on certain sectors and their approach to the practice of CSR instead of exploring several sectors in the Cypriot economy, which was the approach adopted in this study. Originality/value The paper reports findings from the first nationwide study carried out in the area of CSR.

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References

1979A Three-Dimensional Conceptual Model of Corporate Performance 200261. Capitalism and Freedom 2001The boundaries of strategic corporate social responsibility 1967Effective Public Relations 2001What do we mean by corporate social responsibility?1998The Four Faces of Corporate Citizenship 1986Managing your corporate images 2002The ethicality of altruistic corporate social responsibility

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