Samsung Corporate Responsibility Case Study

1001 Words5 Pages
The paper compares corporate social responsibility of Samsung Life Insurance and Zurich Insurance Group based in South Korea and Switzerland, respectively. Furthermore, the outcome and the impact of an investments a company does for CSR will be examined and analyzed. 1.1 Research Questions - What are the main differences regarding corporate social responsibility between these two companies? - In which way is corporate social responsibility employed to shape specific projects of Zurich Insurance Group and Samsung Life Insurance? 2. Methodology Most research papers examine the impact of CSR for a company like changes in the financial performance. However, there are hardly any research analysis how CSR change the projects companies invest in.…show more content…
Specifically, CSR represents the actions an organization takes to demonstrate its focus on something other than financial performance.” Dahlsrud (2006) analyzed 37 different definitions of corporate social responsibility, categorizing into five elements: “the environmental, the social, the economic, the stakeholder and the voluntariness dimension”. Maintaining that these five elements is analyzed as appropriate indexes, Dahlsrud (2006) also noted that no final definition of corporate social responsibility exists. Other researchers (McWilliams, Siegel, & Wright, 2005, p. 3) concluded the same, adding examples of how companies are using corporate social responsibility. For example, apart from merely making the margins, companies invest heavily in their employees, welfare programs, charity events or climate change projects (McWilliams et al., 2005, p. 3). Orlitzky, Schmidt and Rynes (2003) analyzed how these investments in social projects affect and eventually benefit the organization by measuring CSR with “four broad measurement strategies: CSP disclosures, CSP reputation ratings: social audits, CSP processes and observable outcomes, and managerial CSP principles and values” (Orlitzky, Schmidt, & Rynes, 2003, p. 408). In conclusion, corporate social responsibility affected the financial performance of a company in a positive way (Orlitzky, Schmidt, & Rynes, 2003, p.…show more content…
79) reassured that CSR has a “positive effect on corporate image, service quality, and purchase intention.” However, it is important to mention that the improvement of corporate image or purchase intention for instance only takes place if consumers perceive the willingness of company to help through CSR is real (Garcia de los Salmones, Herrero Crespo, & Rodriguez del Bosque, 2005, p. 380). Otherwise, the reputation of a company will feel the effects and furthermore, the results of a study from Sen and Bhattacharya (2001, p. 239) suggests the corporate ability should not suffer from a CSR project as corporate image will gain damage. Taking into account the world and environment changed rapidly in the last years, a survey from Mohr, Webb and Harris (2001, p. 49) shows the gratefulness of the society for company’s donations and they “expect firms to protect the environment and behave ethically”. Our society is aware of creating a sustainable way of doing business instead of using all natural resources without taking, the gap between rich and poor is rising, into account (Build Abroad, 2017). According to the Build Abroad Organization (2017), companies should not only use their profit for a high disbursement of dividends to their shareholders as consumers want to see that a firm is using the money in a sustainable way with investments to the whole
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