Global Journal of Management and Business Research, G: Interdisciplinary, Volume 23 Issue 1

by taking references and representing previous research, along with this, through interviews of two live examples of two businesses who practice this perspective are taken as case studies in order to examine how do they execute it and their benefits gained from it, in the end, results from a survey is taken to understand the perspective of business owners regarding this idea or perspective. XI. C onclusions In brief, this paper has proposed an idea of "the golden win-win situation created by CSR", the practices done or the execution done through this not in no way or form new, it is an idea which is being practiced but not enough, hence the need of this paper arises to show how using a topic of social science, which is aloof from the business studies and commerce can impact the world of them in such a great and impactful way leading to a advantage of all. If we take a look for specific details this paper debunks two assumptions/myths about CSR, and further elaborates on how this idea is implemented through multiple examples, sources, two case studies of real life companies and a survey. In the end the purpose of this paper is to show how Firstly there is a way of social contributions benefiting all parties involved rather than either only the business or only the community involved, Secondly, is to show that business is not only affected by factors in the realm of business and commerce, rather business among everything is interconnected between all elements and subjects in this world. Further, focusing on the need of this paper, according to the author, these are the following reasons why this paper is needed- 1. Adex (advertising expenditure) is valued higher than CSR and its advantages (one of which include that CSR is a better form of marketing). This statement is proven by the data that in 2022 alone², AdEx (advertising expenditure) stood at 1,26,818 crore rupees in India, whereas, in FY (financial year) 2020- 2021 total amount spent by the total sum of 18012 companies on CSR in India was 25714.75 crore rupees 2. As reported by the survey displayed in the paper, many business owners are still unaware of the advantages provided or when CSR is practiced. 3. According to the author, although there are Journal articles or research papers discussing social responsibility in general, there are a lack of them discussing the benefits or the advantages of CSR on a broader level or from a commercial/economic aspect. Biographical sketch Omansh Agarwal is a motivated and enthusiastic student currently in his 11th grade education in commerce stream. He has a keen interest and passion in business studies and economics and social work. Omansh constantly tries different and usually unconventional activities and projects. Omansh strives to gain a comprehensive understanding of the commercial world and develop her skills to excel in this domain. He has consistently excelled in her academic pursuits, demonstrating a strong aptitude for commerce-related subjects. Omansh is linked and associated with multiple NGOs and has started his own social projects for the upliftment of PWDs. R eferences R éférences R eferencias 1. Jason Fernand. Corporate Social Responsibility (CSR) Explained With Examples. Investopedia. Thomas Brock. Katrina Munichiello. April 23, 2023. 2. https://csr.gov.in/content/csr/global/master/home/h ome.html 3. Milton Friedman. A Friedman doctrine ‐ - The Social Responsibility of Business Is to Increase Its Profits. Sept. 13, 1970. Section SM, Page 17. 4. JNU/ABVSME-WP No. 04/2020. 5. Paul, M. (2020, May 20). Umbrella summary: Perceived organizational support. Quality Improvement Center for Workforce Development. https://www.qic-wd.org/umbrella/perceivedorganiz- ational-support. 6. 1 May 2016 Sec. Organizational Volume 7 - 2016 | .https://doi.org/ . 7. Brickley J, Smith C, Zimmerman J. Business ethics and organizational architecture. J Bank Finance 2002; 26: 1821–1835 8. Keller, K. L. (2016). Brand Equity. In: Augier, M., https://doi.org/10.1057/978-1-349-94848- - 1. 9. Adam Hayes. Brand Equity: Definition, Importance, Effect on Profit Margin, and Examples. Investopedia. David Kindness. Katrina Ávila Munichiello. December 20, 2022. 10. Jones R. Finding sources of brand value. Developing a stakeholder model of brand equity. Journal of Brand Management. 2005;13 (1) :10- 32.. 11. Mahmood A, Bashir J. How does corporate social responsibility transform brand reputation into brand equity? Economic and noneconomic perspectives of CSR. International Journal of Engineering Business Management. 2020; 12. doi:10.1177/ 1847979020927547. 12. Hur, WM., Kim, H. & Woo, J. How CSR Leads to Corporate Brand Equity: Mediating Mechanisms of Corporate Brand Credibility and Reputation. J Bus 57 Global Journal of Management and Business Research Volume XXIII Issue I Version I Year 2023 ( )G © 2023 Global Journals Golden Win-Win Situation Created by CSR Front. Psychol., 3 Psychology 10.3389/fpsyg.2016.00796 Teece, D. (eds) The Palgrave Encyclopedia of Strategic Management. Palgrave Macmillan, London. 2_712