What Is The Impact Of CSR On Corporate Reputation
“The triple bottom line” by (John Elkington) 1994, the phrase consists of three P’s i.e. Profit, People & Planet. One is the measure of corporate profit. The second is of company's “people account”—a measure of how socially responsible an organization has been throughout its operations. The third is of the company's “planet” account—a measure of how environmentally responsible it has been. Various researches have been done in this regard. The trends have changed and CSR affects not only the company’s reputation and goodwill but also govern the financial performance. Analysis of several surveys in India suggest that though many companies in India have taken on board the universal language of CSR, CSR seem to be in a confused state. Individual …show more content…
Now what is corporate reputation? According to finding of (kent walker) (1) Corporate reputation may have different dimensions and is issue specific, and (2) different stakeholder groups may have different perceptions of corporate reputations. Keller (1993) defined corporate image as perceptions of an organization reflected in the associations held in consumers’ memory. We are concerned with consumer point of view. Corporate reputation leads to the corporate image of the firm. If customer expectations and the organization service delivery were matched, this would lead to an even closer relationship with corporate reputation by Tawfik El-Nahas(2013). Customer-based reputation reduces perceived risk of customers and encourages greater loyalty Walsh and Beatty, …show more content…
Also there is positive impact of corporate reputation on customer purchase intention. Now a day’s consumers are become more aware & socially responsible. Because of the increasing concern for environment the companies as well as consumer become more aware towards CSR. “India is the only country that has made legislation for CSR spending, KPMG India, with the implementation of the new company law from April 1, 2014. India has become the only country in the world with legislated corporate social responsibility (CSR) and a spending threshold of up to $2.5 billion (Rs 15,000 crore). The new law mandates that all companies, including foreign firms, with a minimum net worth of Rs.500 crore, turnover of Rs.1,000 crore and net profit of at least Rs.5 crore, spend at least two percent of their profit on CSR. Under the current income tax law, the CSR spending cannot be treated as expenditure. It will be part of profit and attract
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