Open AccessMeasuring the return on investment (ROI) of corporate social responsibility of companies
Author(s) -
K. Kumar,
C. Muthulakshmi
Publication year - 2022
Publication title -
international journal of health sciences (ijhs) (en línea)
Language(s) - English
Resource type - Journals
eISSN - 2550-6978
pISSN - 2550-696X
DOI - 10.53730/ijhs.v6ns2.5088
Subject(s) - corporate social responsibility , business , reputation , loyalty , loyalty business model , marketing , return on investment , investment (military) , public relations , accounting , economics , political science , service (business) , service quality , production (economics) , politics , law , macroeconomics
Knowing how to demonstrate and assess corporate social responsibility performance is critical as more firms place CSR at the core of their overall business strategy, and as increasing research shows that CSR is closely linked to corporate success. However, many businesses struggle to quantify the impact of their CSR programmes and operations. Customer loyalty and better reputation are difficult to measure, making it difficult to estimate the impact of CSR programmes and activities. Many businesses have corporate social responsibility programmes, and it's vital to look up to organisations who go above and above with their CSR efforts. The 5 R Framework may be used to assess and convey the impact of CSR on an organization's overall performance, but it can also be used to uncover new opportunities and strategies to improve the CSR program's efficacy.