Research proposal in CSR Paper Example | Topics and Well Written Essays - 3750 words

Proposal in CSR - Research Paper Example Literature Review Summary 15 III. Research Objectives and Questions 15 IV. Research Design and Methodology 17 A. Secondary Data Collection 17 B. Scope and Limitation 18 V. Proposed Time Table 18 References 19 I. Introduction The Kingdom of Saudi Arabia is a haven of economic and political strength in a region that is ravaged by political disorder and wars. This strength, alongside other factors, has helped the Kingdom establish its place as one of the major business hubs in the world, with giant multinational corporations basing their operations in the country. These multinational corporations, such as the banking sector, will continue to proliferate and dominate if present trends in the country continue (Shoult 2006). With local and global companies manoeuvring simultaneously in a fast moving economy, one of the major business concerns in Saudi Arabia in the recent decade is corporate social responsibility (CSR) as well as its function and direction in the business environment of th e Kingdom. The opposite is true for the United Kingdom. The introduction of corporate social responsibility in the UK’s banking industry does not present entirely good opportunities. There are constraints in the voluntary programmes to deal with the unfavourable environmental and social effects produced by the banking industry in developing and developed nations (Solomon 2007). The political system of the UK have failed to challenge the influence of the banking sector beyond advocating gradual voluntary attempts to advance CSR, all of which have fell short of resolving successfully the major problems of sustainable development, poverty, climate change, and human rights (Ward & Smith 2006). Despite of the vast evidence, the programme of ‘Investing in the Future: a European conference on CSR and the finance sector, (ibid, p. 93)’ disproves the fact that the UK banking sector has yet failed to progress outside mainly unsuccessful efforts at self-regulation. The bank ing industry has a corporate social responsibility to adequately cater to the intricate groups of customers; a bank operates to maximize shareholders’ profit. It should sustain the most favourable liquidity to satisfy the demands of depositors. It is mandated to meet the official ‘deficit sector demand for credits’ (The National Commercial Bank 2009, p. 3). The banking sector should satisfy the provisions established by supervisory bodies to continue operations. Most of all, for the bank to be viewed as a responsible corporate entity, it has to provide substantial input to the economy’s highest development and meet the demands of its immediate vicinity (The National Commercial Bank 2009). Hence, the aim of this study is to comparatively study the challenges of CSR that the banking sector in Saudi Arabia and the United Kingdom confront nowadays. Two major banks for each country are studied and compared, namely Aljazeera and the National Commercial Bank in S audi Arabia, and HSBC Bank and Barclays Bank in the UK. II. Literature Review A. Definition of CSR There appears to be countless definitions of corporate social responsibility, running the gamut of the basic to the complex, and an array of related concepts and assumptions, such as ‘corporate sustainability, corporate citizenship, corporate social investment, the triple bottom line, socially responsible investment, business sustainability and corporate governance’ (Thomas 2006, 3). Singh and colleagues (2009) defines CSR as â€Å"