The International Journal of Professional Management - ISSN 20422341
Does Corporate Social Responsibility Increase Profits of Companies in Malaysian Business Software Industry? A Critical Review
Volume 12, Issue 4, July 2017
Ben Delos Chie
DBA candidate, Victoria University, Switzerland.
William Chua
PhD (Mgmt), MBA, BSc (Maths/Ed), MMIM, MIIKM, Honorary Fellow
Professor and Doctoral Supervisor, IPE Management School Paris, France
Correspondence to
Ben Delos CHIE
Malaysia
Tel: +6 019 899 9898
Email: bendeloschie@gmail.com
Abstract
Corporate Social Responsibility (CSR) as a common business practices has only recently established a foothold in developing countries. Malaysia was chosen for this study because of its status as one of the world's developing countries, and it has undergone radical economic and social changes. Furthermore, the importance of CSR practices was emphasised by companies in order to ensure its sustainability in the corporate world. In a very competitive global market, the Malaysian business software industry must strive to portray a picture of them being highly socially responsible companies. Active involvement in socially beneficial programmes provides extra advantage to the company. Generally, involvement in CSR activities are inspired by several constructs of SCR which follow several theoretical assumptions. This paper provides an extensive critical review of the theoretical perspectives on whether CSR, when based on legal responsibility, economic responsibility, ethical responsibility and philanthropic responsibility dimensions, can increase profits of companies in the Malaysian business software industry. From a CSR standpoint, the researcher also reviews and discusses in detail legitimacy theory, stakeholder theory and social contract theory to identify the situations that suit each of these perspectives. Overall, it can be concluded that CSR can increase profits of companies in the Malaysian business software industry with several important constructs. Management in Malaysia needs to identify best practices from the ethical, legal, philanthropic and economic responsibilities that can provide maximum benefits to the firm as well as society. This paper contributes to the corporate social responsibility literature which can enhance the company's performance in Malaysia, especially in the software business.
Key words
Legal responsibility, economic responsibility, ethical responsibility, philanthropic responsibility, profit, business software industry, Malaysia
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