It is imperative for companies and businesses to satisfy not only their own interests but also the interests of the community and society. The objective of the study is to conduct an analysis of various corporate social responsibilities of companies. The methodology adopted is a conceptual analysis of community-based corporate social responsibility for companies. The study focuses on corporate social responsibility and corporate social philanthropy in the workplace, service to low-income communities and individuals at the bottom of pyramid, cause marketing, and social marketing. Companies adopt a number of initiatives to fulfill their social responsibilities towards the community and the society. Academicians may analyze the various approaches adopted by companies and suggest effective approaches. Practicing managers may evaluate the existing practices and initiatives and suggest practices and initiatives that are effective. All these will enable companies to create a positive impact on the society and achieve business excellence in the long run.
Top1. Introduction
Companies perform a number of marketing activities to achieve healthy growth in the long term (Mandal, 2023). They also require satisfying a broad set of constituents and objectives. However, it is not sufficient for companies to focus on their selfish motives of growth. They should consider the impact of their actions on the community and the society at large. They should try to ensure that there is no adverse impact on the society because of their actions (Widayati, Nurchayati, Suparmi, & Suprapti, 2023). Corporate social responsibility has become a priority for many organizations and is ingrained in their business models (Dinçer, Yüksel, Hacioglu, Yilmaz, & Delen, 2023). Successful marketing requires effective relationship marketing, integrated marketing, internal marketing, and performance marketing. At the same time, companies require evaluating the societal impact of their marketing activities and examining the key dimensions of corporate social responsibility (Mandal, 2023).
Companies will be able to achieve substantial and healthy growth in the long term if they satisfy a broad set of constituents and objectives (Zhao, 2023). It is imperative for companies to create value not only for themselves but also for the community and the society at large. Companies should be able to identify the domains in the community where they will be able to contribute (Khalid, Kefu, Akram, & Batool, 2023).
The discussions indicate that companies should not only create value for themselves but also for the community and the society at large. This will enable companies to achieve sustainable growth in the long term. Although the topic is important and relevant in the current scenario for both businesses and the society at large, few studies focus on analyzing the various aspects of community-based corporate social responsibility for companies. The study aims to address this research gap.
The objective of the study is to conduct an analysis of the various aspects of healthy long-term growth for companies and the roles of community-based corporate social responsibility in creating and maintaining sustainable growth for companies.
The methodology adopted is a conceptual analysis of the various aspects of community-based corporate social responsibility for companies and the roles in creating and maintaining healthy and sustainable long-term growth. Primary data is not collected and empirical analysis is not done.
The novelty and the contributions of the study lie in the fact that an in-depth discussion about various aspects related to community-based corporate social responsibility and corporate philanthropy for companies and businesses is done. Companies and businesses require satisfying the triple bottom line – people, profit, and planet to achieve their own growth and for serving the community and the society at large. Academicians may analyze the importance of companies and businesses to create an impact on the community and the society in the long run. Practicing managers will appreciate that it is not sufficient to generate revenues and profits for their own organizations. They also require giving back to the community and the society. They will be motivated to focus on those activities and initiatives which create a positive impact on the community and the society in the long run. They will realize that consumers favor those companies which are socially responsible. All these will allow companies and businesses to fulfill their objectives of generating revenues and profits and of creating a long-term impact on the community and the society.
The study is structured as follows: