The impact of corporate social responsibility on financial performance : A case study of Hotel Scandic Park Helsinki
Kandel, Kedar (2019)
Kandel, Kedar
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019091919103
https://urn.fi/URN:NBN:fi:amk-2019091919103
Tiivistelmä
The term corporate social responsibility is a term that does not have a universal definition. The term has been defined by various researchers, but they define the term in different ways depending on the con-text in which it is used. Global megatrends can be considered as the drivers for opportunities and chal-lenges that every companies need to consider in order to have their existence in long run. Nowadays, more than individuals, companies are taken as the moral citizens of the world and hence having a high-er moral obligation to address than individuals. The obligations cover the entire operations of a business organization. The service company Scandic Park Hotel, Helsinki has a further reaching impact due to global scope and operational field of operations.
The aim of the thesis was to describe and analyze the impact of corporate social responsibility on finan-cial performance and it also aimed at looking at the challenges and the opportunities in practicing cor-porate social responsibility as a strategy.
The theoretical part covers corporate social responsibility and financial performance and explains what they stand for. More precisely, the corporate responsibilities in relation to service industry are focused. The economic, environmental and social aspects of business process were looked upon. How corporate social responsibility and sustainability affect the profitability of a company is described. The online versions of academic books and sources were preferred due to their easier accessibility and the relevant printed books were taken as references to writing. Quantitative research method is used in the empirical part of the thesis. The case company Scandic Park Hotel was studied by presenting structured ques-tionnaires to the personnel working within the management to find out how corporate responsibility is taken into consideration in service business and how financial performance is affected by it.
The result of the research suggests the positive relationship between corporate social responsibility and the financial performance of a firm.
The aim of the thesis was to describe and analyze the impact of corporate social responsibility on finan-cial performance and it also aimed at looking at the challenges and the opportunities in practicing cor-porate social responsibility as a strategy.
The theoretical part covers corporate social responsibility and financial performance and explains what they stand for. More precisely, the corporate responsibilities in relation to service industry are focused. The economic, environmental and social aspects of business process were looked upon. How corporate social responsibility and sustainability affect the profitability of a company is described. The online versions of academic books and sources were preferred due to their easier accessibility and the relevant printed books were taken as references to writing. Quantitative research method is used in the empirical part of the thesis. The case company Scandic Park Hotel was studied by presenting structured ques-tionnaires to the personnel working within the management to find out how corporate responsibility is taken into consideration in service business and how financial performance is affected by it.
The result of the research suggests the positive relationship between corporate social responsibility and the financial performance of a firm.