Background of the study
Corporate social responsibility is an established concept in the business environment. Several issues are included in the corporate responsibilities of a firm such as environmental sustainability, meeting demand for stakeholders, achieving sustainable competitive advantage, resource management and others. CSR is thus recognised as a guideline for ethical business conduct. The purpose of this dissertation is to analyse the role of business education in developing corporate social responsibilities. A business organisation needs to change its internal culture with the pace of external changes and demand (Williams 2013). Therefore, employees and management staffs need to acquire some skills to perform corporate responsibilities. Business education helps to understand business problems effectively. The present study wants to highlight those issues and recommend some solutions based on findings. The analysis is made in the UK context. Case study is London School of Commerce.
Several researches have been done on the requirements on business education and development of CSR in business. de Burgh and Saha (2014) discusses on the same topic. This paper focuses on the application of commercial knowledge in profit maximisation as well as value creation among employees. It has been highlighted that well-equipped young graduates can handle growing social, economical and environmental issues. Profit maximisation is not the sole purpose of the business organisations in 21st century. Kolk (2016) reviewed the social responsibilities of international business. Exchange of technologies, developing commercial intelligence, cultural values are important for enhancing corporate responsibilities highlighted by Kolk. Therefore, it can be stated that skill development education can improve the mentioned competencies among employees.
Business education of London School of Commerce has been considered in this study to analyse the effectiveness of business education on their CSR policies. In the view of Anderson and Ohman (2016), teaching of business economics can help in better understanding of the role and responsibilities of a business from local to global context. Different types of business education such as profit oriented business education, social oriented, radical oriented have been discussed in the paper.
Aim of the research is to find out role of business education in performing CSR policies. The researcher aims to explore different types of business education taught in London School of Commerce in the context on UK business. Application of business education in LSC Company is evaluated in the context of their CSR policies. Effectiveness of business education in business, as well as government and public sector initiatives are evaluated in this respect. The role of London School of Commerce in developing CSR awareness among the future leader is evaluated in this paper.
Aims of the research
The objectives of the research are
- To study the role of business education in developing CSR awareness
- To find out requirement for CSR awareness among UK business leaders
- To study the role of LSC in developing CSR awareness among future business leaders in UK
- To recommend on possible ways of enhancing CSR awareness through business education
Research questions have been set up based on objectives of the current research. Research questions are as follows:
- What is the role of business education in developing CSR awareness?
- What are the requirements of growing CSR awareness among UK future business leaders?
- What is the role of LSC in developing CSR awareness?
In recent times, interest in CSR is growing among different business firms world wide. CSR has become important factor of keeping sustainability in business and getting competitive advantage. Business firms have to operate in an innovative ways to respond the change in rapidly changing economic, social and environmental issues. Moneymaking is thus not only objective of the business firms. Managing growth along with reduction in dependency on natural resources is important goal of firms (Pettinger 2016). UK businesses are likely to face several problems after Brexit. Devaluation of pound, decline in capital inflow, and reduction in investment may slow economic growth in future (Crossan et al. 2013). Therefore, simplified business policies are not the right option for UK business in the current volatile economic situation. As London School of Commerce is preparing students as future business leaders, the study wants to evaluate that how far this organisation is successful in developing awareness among them through business education.
Business education plays an important role in developing necessary skills to handle complexity, risks of business. As stated by Low and Ang (2012), business education encompasses disciplines, develops soft skills, efficiency and increases effectiveness of the organisation. Business education helps to enhance the values and mission of the organisation. Values of organisation improve with undertaking of several corporate social responsibilities. As pointed out by Andersson and Öhman (2016), effective business education covers business management style, risk management, strategy to thrive in a corporate environment. CSR is a part of that strategy. As LSC plays an important role to provide business education in UK, it is important to evaluate its effectiveness in the context of UK business environment.
The present study is very relevant in context of globalisation. In order to compete with the multinational organisations, business education plays a significant role for local business firms. Good corporate governance is required for the business leaders to create value not just for shareholders, but also for every internal and external stakeholder and for the civil society (Kolk 2016). Understanding sustainability problem in business is developed through business education. It helps to understand the change in professional culture. Every business organisation has the responsibility to provide better job opportunity that can bring higher standard of living contributing to the economic growth of the country (Lee, Park and Lee 2013).
Objectives of research
Business leaders have important role to motivate team members and employees to take responsibilities for society and environment. Business leaders play multiple roles such as manager, consultant, leader, promoter and entrepreneur (Spence 2016). Therefore, discussion on this present study is very relevant for UK business environment. Business leaders can set business goal in line with the corporate responsibility towards society and can motivate employees to participate actively in the social activities. When sustainability of the business and environment is concerned, future business has to take responsibility for better use of resources in the business operation and production process.
This chapter of the paper discusses on literatures based on different key variables useful for present study. Key variables for this present research are business education, its purpose, different kinds of business education, corporate social responsibilities of business firms, role of future business leaders. There are other variables, which are explored with the progress of the review. Current scholarly literatures on these variables have been studied. Need for sustainability in profession practices have been discussed. The conceptual framework in this chapter provides a clear indication about the flow of the study using those above-mentioned variables.
Figure 1: Conceptual framework
(Source: created by author)
The conceptual framework of this research presents the structure of the analysis. The discussion starts with the business education and its requirements. Three types of business education that are needed to elevate corporate social responsibility awareness have been discussed. After the study of business needs, literatures on the corporate social responsibilities and their needs in business are studied. At last relation of business education with the CSR awareness are analysed. As the business and cultural environment differ across countries, business environment of UK is required to understand. Role of business leaders are needed to study to understand before doing the research. Assessment of London School of Commerce can be done after gathering knowledge on various aspects mentioned above. The study regarding business education, CSR and role of business leaders helps to understand the effectiveness of the business education of the LSC and to meet research objectives.
Business education builds up a foundation based on which one can move to the business areas in the preferable field. As stated by Scott (2014), business education includes teaching students on fundamental concepts of business, theories and processes of business. Practical experiences are also involved with the business education as experience enhances the effectiveness of the business education (Kim and Scullion 2013). Business education helps to achieve a future businessperson to achieve knowledge of business concepts. Another objective of the business learning is to achieve literacy on financial, economical, business and digital aspect of the knowledge economy (Jackson and Chapman 2012). Business education enhances technological skills to increases overall productivity of the organisation.
Research questions
A business leader with high educational skill creates competitive advantage in the specific industry. They are able to generate creative ideas and innovation in the business organisation in order to increase productivity and profitability. As discussed by Sonteya and Seymour (2012), business education enhances the managerial skills and better human resource selection. Education amplifies the emotional intelligence of the future business leaders regarding the decision making skill, resolving problem, interpersonal communication skill. Business education improves business skills and the quality of management.
Jackson and Chapman (2012) worked on non-technical skill gap for Australian business management. Non-technical skill gaps are identified for cultural aspect of business, gaps in identification of business problem, maintaining relationship with the stakeholders. Non-technical skill of business graduates highlighted in this paper is cognitive and soft skills requires in the workplace. Self-management is another important outcome of the business education (Goby and Nickerson 2012). It is a challenge to the business institutions to develop knowledge, intellect, critical thought and inquiry skill among the future business leaders. Application of critical thinking is very important for business in the era of globalisation.
Carnevale, Smith and Strohl (2013) worked on the job growth and educational requirements for future business leaders. This paper relates the level of educational attainment and demand for education in the labour market. After global financial crisis, world business sector has faced several problems in the business sector. This research paper has expected recovery of worlds business and creation of jobs in the labour market. In order to increase profitability of the business and increase competitiveness, companies try to develop association with the society and stakeholders (Naeem and Neal 2012). Requirements of skill and ability intensify with the progress of decades. Business skill is required in the domain of customer relationship service, sales and marketing, human resource management, production and processing, production and processing, public safety and security, administration and management.
Goetsch and Davis (2014) researched on the quality management aspect of the organisation where business education plays an important role. Quality in their view is associated with the product, service, employee, production process and environment to produce superior value in the business. Sonteya and Seymour (2012) discussed on the competencies of the business analysts. Demand for business process management and service-oriented architecture are growing with the globalisation and business process outsourcing. Business analysts have strong technical skills to empower others, mitigate risks, and increase efficiency.
Zhang, Duysters and Cloodt (2014) have explored the relationship between entrepreneurial education and entrepreneurial exposure in the context of business. Entrepreneurship is the part of social responsibilities as this contributes in the economic growth. Technological innovation, increase in economic efficiency are facilitated by the entrepreneurship (Kickul et al. 2012). This paper found that entrepreneurial education has direct positive relationship with the entrepreneurial intention.
Problem statement
Goby and Nickerson (2012) analysed on ethical part of the business and role of business education in enhancing ethical competencies in the business leader. This paper is based on a case study of United Arab Emirates and concluded that students require to engage themselves with internal and external stakeholders of a business at both personal and social level professionally. Students learn to resolve issues at the social and corporate level from the undergraduate level. As stated by Mandurah, Khatib and Al-Sabaan (2012), corporate social objectives includes natural environment oriented activities, attitude towards community, activities oriented to the stakeholders. This paper examined the capability of the business managers in performing CSR in the context of Saudi Arabian firms. Business education on CSR includes topics such as sustainability certification of production, zero waste, work place well being, eco-efficiency, operations and supply chain management and community welfare.
As mentioned in the conceptual framework, business education in three categories has been mentioned. The categories are profit oriented, social oriented and radical oriented. Business degrees on accounting, consumer behaviour, brand management, organisational leadership, entrepreneurship, portfolio management, supply chain management are kinds of profit oriented business education (Thomas and Cornuel 2012). Students study marketing management, supply chain management, human resource management all required improving efficiency in production for business purpose. Profit increases with improvement in efficiency in production process and efficiency of staffs. Business education on health care management, hospitality management, project management and public relation are type of social oriented (Dahan and Senol 2012). These types of business education are meant to provide service to the society. The purpose of the social business education is to grow knowledge for contributing to the society (Azevedo, Apfelthaler and Hurst 2012).
Entrepreneurial business education is the type of radical business education. The student who learns entrepreneurship can be a self employed and become a owner manager. Entrepreneurship can helps to develop small business in a country. Development of small business contributes to the significantly to the growth of GDP and reduces unemployment. Therefore, country progresses towards development through entrepreneurship and capital formation in the economy. However, Jackson and Chapman (2012) stated that students of business education need to learn about the corporate social responsibilities whatever be the purpose of business education,. CSR has become an essential part of every business irrespective of profit making or not-for profit organisation (Cavusgil et al. 2014). Hence, every business organisation needs to provide course on CSR in building future leaders. Tormo-Carbo et al. (2016) worked on the necessity of introducing the course of business ethics and CSR in degree courses at the Poland University. Authors concluded that there are difference among the perception of students regarding the course of business ethics and the CSR awareness.
Significance of the study
CSR is the responsibility of the corporate practice of the firm in terms of economic, political environment. In the view of Dillon, Back and Manz (2014), bringing smile to the life of people by educating poor people not only gives inner satisfaction, but also gives pride and gratification. Business gets resources from society and environment. Therefore, business organisations have responsibilities to return benefits other than products or services to the society. As pointed out by Aguinis and Glavas (2012), CSR has important role in increasing brand value among the competitors as well as media. Relationship with local media is more likely to cover stories offered by the company. As argued by Kang and Hustvedt (2014), any negative community impact would have spread more rapidly than good news through local media.
A positive feeling grows up among people for the organisation, which takes initiative to create educational awareness, providing education among poor children, helping to build greener society or to bring electricity to s remote village. Rural people are important segment of the economy. They remain segregated from consumption of luxury product. Enhancement of the purchasing power of rural people may help business to reach a wider section of people (Wang and Rafiq 2014).
Cohn, Fehr and Maréchal (2014) pointed out another aspect of CSR that is development of performance of employees. CSR have the ability to create bond among employees. Team work can bring job satisfaction and efficiency in work place. A sense of loyalty grows among staffs towards the organisation. Attachment with society through performing CSR enhances communication with other stakeholders such as suppliers, customers and investors. A positive image towards brand is created among all the stakeholders. Therefore, drawing funds from the investors become easier as the company is able to gain enough confidence of investors through CSR policies.
CSR is equally important for the non-profit organisation in enhancing relationship with society. Corporations that offer volunteer grants to help non profit organisations, creates value within organisation and society. Employees of the corporation engage themselves in volunteering activities by donating their time for social benefits. In the way corporations help the non-profit organisation for their success (Juš?ius, Šneiderien? and Griauslyt? 2014). Cavusgil et al. (2014) argued that there is lack of awareness about the volunteer work offered by a specified company. As pointed out by Jackson and Chapman (2012), there is a possibility of the corporate partnership with the non-profit organisation through CSR policies. This partnership is vital for the corporation as partnership can enhance engagement with the local community, which can play important role for the marketing.
Literature review
One benefit that a CSR provides for employees is a positive workplace environment. CSR can instil a strong work culture within employees and helps to create positive and productive environment within organisations (Voegtlin, Patzer and Scherer 2012). Productive environment amplify the desire for improving own skill among the employees. As stated by Kang and Hustvedt (2014), CSR activities develop creativity among the employees. It can grow leadership quality among employees for future. Activities needed to perform as a part of CSR motivates employees to perform towards a common goal to facilitate business. According to Popovi? et al. (2012), by helping needy people sacrificing working time, employees help themselves in personal development. CSR is helpful in both personal and professional growth.
There are several views against the CSR policies in the business world. As argued by (), CSR increases cost of production of the business. Companies have to bear unnecessary costs for the benefit of the society. However, Wang and Rafiq (2014) opposed that there CSR may not have any short run impact. Long run impacts of CSR policies are significant. According to Milton Freidman, purpose of the corporations is to provide return to the stakeholders. They have no responsibility towards the society. However, this is an old view. In the present era, business has multi-faces. Engagement with internal and external stakeholders provides advantage to the organisations to meet fast changing expectations of the society. Grant et al. (2014) pointed out that reduction in unemployment is important social responsibility of a company.
Different CSR model
|
Model |
Participants |
Change issue |
Trust |
|
Minimalist |
Investors, Owner and manager of the company |
Hyper competition and globalisation effect |
Development of trust depends on the performance of the organisation co pared to the expectation. |
|
Self interested |
Owner, manager and the program coordinators |
Competition in the market, up gradation of the reputation |
Development of trust depends on the reputation of the competition. |
|
Social contract |
Owners, managers and the companies or organisations that are engaged in the contract with the firm |
Flexibility of the business demand among the market may be challenge. Internationalisation of the business may a barrier for the company. |
Trust depends on the legal and social contracts are the determinants of the trust towards the company. |
|
Stakeholder management |
Owners, managers, primary and secondary stakeholders* |
Information management may create barrier in the flow of information and the management of supply chain. |
The inclusiveness and participation of stakeholders in the decision-making process |
|
Stakeholder stewardship |
Owner, managers, tertiary stakeholders* |
Demand for tertiary stakeholders, environmental activism |
Trust on company depends on the agreement between the tertiary stakeholders and the corporations. |
Table 1: Different CSR model
(Source: Azevedo, Apfelthaler and Hurst 2012)
Corporate governance and the leadership is the complementary to each other. Dillon, Back and Manz (2014) have discussed that leadership is the important components in creating empowerment as well as reinforcing positive perception within the organisation. In their view, virtuous leadership is more relevant to the CSR policies. They socialised the power of decision-making within society and among the stakeholders. Virtuous leaders focus on the goals that are beneficial for others. In order to bring sustainability to the business, the CEO or other organisational leader has to believe right things, which are beneficial for the company (Jackson and Chapman 2012). The leader determines management structure and governance process. Therefore, building a skilful management team and efficient project team are the key success factor for the company.
A business leader has to understand the relevance of the sustainability to the business strategy and risk. Business risks are associated with the use of scarce natural resources, impact of pollution, issues related to the business model, sustainability of the business model. Gender diversity in the board of the company is necessary for moving towards a sustainable business (Juš?ius, Šneiderien? and Griauslyt? 2014). A proactive leader can execute required change within organisation and can handle arising issues efficiently. The leader needs to be knowledgeable to understand the sustainability issues, performance management and communication. Business companies hence look for experienced graduates having competencies in critical business thinking power, problem-solving efficacy. Gomez and Vargas Preciado (2013) argued that the business schools have taken little responsibilities so far. Business faculties and administrators still debate on the role and importance of CSR as a subject in MBA courses. Courses such as CSR and sustainable management are found to be elective subjects in many business schools.
Conceptual framework
|
In-active |
Re-active |
Active |
Pro/Interactive |
|
Corporate self responsibility |
Corporate social responsiveness |
Corporate social responsiveness |
Corporate societal responsibility |
|
Inside-in |
Outside-in |
Inside-out |
In/outside-in/out |
|
Doing things right |
Don’t do things wrong |
Doing the right things |
Doing the right things right |
|
Efficiency |
Equity/Ethics |
Effectiveness |
|
|
Transactional and team leaders |
Charismatic leaders |
Visionary and moral leaders |
Transformational leaders |
|
Profit maximisation |
Quarterly profits and market capitalisation |
Positive value based duties |
Interactive duty approach, Medium term profitability and sustainability |
|
Economic responsibility Social Responsibility [Wealth oriented] [Broad CSR] [Narrow CSR] |
As stated by Voegtlin, Patzer and Scherer (2012), transactional leaders can clarify roles and responsibilities to the team members and can motivate them to reach the goal predefined by the organisation. This type of leaders is interested in corporate self-interest and focus on efficiency in internal operation of the firm. On the other hand, charismatic leaders have the ability to present a strong vision to the team members and have strong personal commitment (Wettstein 2012). They give primary preference to the economic responsibility of the firm such as market capitalisation. They respond to the needs of the employees while focusing on the social aspect. Visionary and moral leaders focus on the ethical principles of their vision. They link mission and vision to the implementation of the plan. They link their organisational goal with the corporate social responsibilities. Among four types of leaders, most outward oriented type of leader is transformational leader (Crowther and Aras 2012). They set a new vision for the organisation that is more societal and needs active involvement of the stakeholders.
UK business environment outlook remains positive despite the effect of Brexit and global economic turmoil. UK government tries to support business environment and takes initiatives to encourage private sector led economic progress. Resource allocation plays an important role UK business (Brammer, Hoejmose and Marchant 2012). UK has mainly free market economy, where demand and supply play role to determine equilibrium price and quantity. Therefore, the market forces determine allocation of resources. Global financial crisis during 2007-08 has deep impact on the business and financial market of the UK economy. Due to crisis in the financial market, business had to face credit crisis and investment problem in their business. An uncertainty of investment has been created in the UK business environment to make it depressed for recent years (Kinderman 2012).
UK is the important centre of world politics, finance and culture. Business in the British economy gives increasing importance to the issues of work life balance. Customers in the dynamic business environment expect to get service at any time within 24 hours. Therefore, employees in the business environment need to work for longer hour. Business organisations are therefore, concern about balancing work and private life by reducing work pressure. Improvements in workplace environment, working life of the employees are a part of the CSR of business firms. Due to technological development, employees are allowed to work from home (businessculture.org 2017).
Grant et al. (2014) stated that, service sector in UK has been growing rapidly compared to the manufacturing and construction sector. There are trade unions to protect the interest of the employees. Corporate social responsibilities have been getting importance in UK business environment with the growth of the consumer activism, social media. Three main theme of the CSR in UK are work place issues, community contribution and sustainable environment. Work place issues include work life balance, human rights and employment. Many of the business leaders are actively involved with the CSR activities. UK government also supports the business with high valued CSR through tax and opportunity of charity (Thomas and Cornuel 2012). Waste management is important aspect of the business when environment is concern. Due to unsustainable consumption of natural resources and created environmental damage, waste is generated.
This chapter has studied that there have been extensive studies on corporate social responsibilities of firms belonging to different industries. It has been reviewed that business education is essential for operating in a knowledge economy. Business education develops creativity as well as managerial skills required to handle a business organisation. Along the managerial skill, business education enhances cognitive and problem solving skills of the business leaders that are essential to get competitive advantage in the market. Business education is directly or indirectly related to the CSR. It has been studied that most of the business schools have no such specific course on corporate social responsibilities. However, business education on CSR covers the areas environmental sustainability, work place well being, supply chain management, operational management and community welfare. The discussion has divided the business education into three types such as profit oriented, social oriented and radical oriented.
CSR is important for the business organisation as it enhances reputation of the organisation and the brand value of the product. CSR has good impact on the relationship with the stakeholders. However, there are counter arguments that CSR is not necessary for business as it does not bring any profit and increases cost to perform the roles for CSR. However, even if CSR has no short-term impact on business, it has long term on profitability and the growth of the organisation. Business leaders have important role in this context. Among different types of leadership approach, virtual and transformational leadership are more effective for developing CSR awareness. A good business need to understand the business risks associated with the use of natural resources, human resource, change in business model, and change in market competition in order to succeed in business. It has been studied further that importance of CSR is growing in the UK business. Bringing balance in working life and personal life, reduction in work pressure, technological development, customer satisfaction, and contribution towards community are getting importance in the UK business sector.
This chapter describes the procedure in which the research has been conducted. The section highlights the process of evaluation of the business development method. Data collection method, sampling method has been described here in details. Data have been collected from London School of Commerce and survey has been conducted on the students. Research approach used in the research along with the research philosophy has been stated. As the survey has been performed on the students of business school, primary survey has been used. Both descriptive and quantitative methods have been used.
The role of future leaders prepared by LSC has been judged by exploratory study. Primary and secondary both method have been used. Primary study has been conducted to take the opinion of the students of the LSC, who are supposed to be future business leaders. Their understanding regarding CSR, job role have been evaluated through primary survey. Secondary source has been used to study scholarly literatures, academic journals to understand the findings of past research. Secondary research is also useful for understanding UK business environment (Bryman and Bell 2015). Sampling method has been used to choose respondents from the total number of students from different departments.
Statistical tools such as Microsoft Excel would be used during analysis. Statistical tools have been used to present data in different graphical and statistical methods. Decision regarding competencies of future business leader passed out from London School of commerce in performing CSR on behalf of their organisations has been evaluated. Personal interview has been carried out to evaluate opinion of present students about the CSR. The analysis has evaluated different aspects such as organisational governance, human rights, consumer issues, environment and community involvement (Creswell 2013). Initiative of LSC campus has been studied to review the role of this institution in developing CSR knowledge among the future business leader.
As commented by Ritchie et al. (2013), research philosophy is the belief of the researcher regarding the process of collecting data, data analysis. Mainly three types of research philosophies such as positivism, interpretivism and realism are used in the study. Among different research philosophy, interpretivism philosophy has been chosen for this research. This method has been chosen as researcher has found the result through interpretation of the elements of the study. In the view of Noble and Smith (2015), interpretivism is an epistemology that states that researcher needs to understand the differences between human roles as social actors. Researcher has chosen this research philosophy due to its nature of study. Zikmund et al. (2013) stated that mainly interview and observation methods are used this approach. However, there are different variations in this approach. Bell (2014) cited that interpretivism is the philosophy of interpretation and understanding. Other view says that this philosophy tries to understand the world through experiencing the phenomena directly.
This present study also wants to explore the role of LSC interpretation. Onwuegbuzie and Frels (2016) explained that people interpret their everyday social roles in accordance with the meaning people gives to the roles. The understanding regarding present issues has been grown up through understanding on social and experiential level. According to Baskerville and Wood-Harper (2016), both primary and secondary study can be conducted using this method. Researcher has opted for this approach, as this is suitable for management and business research. Business environment is ever changing and hence corporate social responsibilities of a firm need to be adjusted with changing social needs. Therefore, descriptive and interpretive analysis is more appropriate for this study in comparison to the statistical study.
As mentioned by Stahl (2014), mainly two approaches are followed in the research such as deductive and inductive. Deductive approach is followed to explain casual relationship between variables. Generally, researcher takes a hypothesis to verify the research problem on the ground of available information. Researcher takes decision regarding acceptance or rejection of the hypothesis. On the other hand, new theories are developed using inductive approach, which is developed based on grounded theory (Isaeva et al. 2015). Deductive approach has been considered for this present study. However, this study wants to explore the role of LSC in creating CSR awareness among future business leaders. Instead of developing any research hypothesis, this paper works to answer the problem statement depicted in the first chapter.
The rationale behind choosing this approach is research has worked on this topic based on previous studies. No new theory has been developed. This paper has tried to find the answer of the stated problem only. Following deductive approach, this paper emphasises on the general causality (Fabijan, Olsson and Bosch 2015). However, with the span of the analysis, mixed approach has been applied for the need of the research. Along with small application of quantitative, qualitative approach has been undertaken to strengthen the analysis. Existing theories have been studied and verified in the context of the case study. Different CSR theories and models have been applied during the analysis of the problem statement.
Research design can be categorised as qualitative, quantitative or fixed approach. The features of the qualitative approaches include experimental design, non-experimental design such as survey. As mentioned by Wright et al. (2016), qualitative approaches are narrative, based on phenomenology, ethnographies, and grounded theories. Case studies are also used in this approach. Research design has changed with the development of the research approach. As per knowledge and strategy requirements, sometimes researcher considers mixed approach for analysis. Mixed approach is sequential, concurrent and transformative (Lawrence and Tar 2013). Mixed approach has been chosen for present research. Different sources have been used for data collection.
Data are collected with field methods in mixed approach in the form of survey and interview. Field survey is combined with the traditional qualitative survey. Dey et al. (2014) stated that triangulation of data sources are used in this method, which indicates convergence across qualitative and quantitative method to provide an insight into different level of analysis. A sequential approach is followed in mixed method to expand findings of one method with another method (Smith 2015). The present research has started with the quantitative method and followed by qualitative method of study with detail exploration with few business students of London School of Commerce. There is concurrent procedure, through which researcher provides a comprehensive analysis of the research problem (Fabijan, Olsson and Bosch 2015). Transformative procedure in the mixed method reveals outcome other than anticipated by the study initially. Both open ended and close-ended question during survey can be used.
Data and information needs to answer the research question. As stated by Wright et al. (2016), data collection is the process of gathering information on chosen variables required for the analysis. There are number of methods that can be used for collecting data. Selection of data collection instrument is important for research as appropriate data collection procedure can reduce error in research. Research data are categorised as primary and secondary. Primary data are raw data collected from the root source. On the other hand, primary data are collected through interviews, survey (Bell 2014). On the other hand, secondary sources are collected from different other sources such as historical studies, previous research paper, reports published by concerned institutions (Noble and Smith 2015).
Both types of data have been collected for the present research. In order to get the opinion of the business students, primary research has been conducted. Views of the students have been taken regarding their knowledge about CSR and future business requirements and their course outline. Secondary data have been collected from the official website of the London School of Commerce regarding the initiative taken the institution in developing CSR awareness among the students. News Websites and government websites of UK have been used for secondary survey.
As discussed by Lawrence and Tar (2013), there are numerous methods of collecting data. Methods are observations, interview, testing and analysing texts. First three methods are applicable for primary survey and the last one is applicable for the secondary survey. The researcher has used interviewing and psychometric testing methods to evaluate the competencies and level of understanding of the students.
Data analysis is an important part of the research as instrumentation of data is done at this stage. Several statistical instruments and tools are used to record, validate or analysis. As mixed method has been chosen, both qualitative and quantitative analysis methods have been used in this research work. In both methods, researcher describes and summarises collected data (Cramér 2016). Next, relationship among the variables is found out. In case of multiple factors, multivariate analysis is undertaken and for two variables, bi-variate analysis is undertaken (Palinkas et al. 2015). Next step is comparison of variables in the context of present business environment. After comparison is made, difference between the variation in values from mean values are identified. Researcher forecasts the future outcome based on the analysed data.
In this research paper, descriptive statistics method has been used to evaluate variances in responses and role of future business leaders. Correlation between dependent and independent variables helps to evaluate the role the LSC in developing CSR (Bryman and Bell 2015). Dependent variable is effectiveness of the LSC course outline and independent variables are the student perception about CSR. Graphical method has been used for visual presentation of the data. While considering the qualitative research, the researcher needs to look out beyond numerical evidence. Comments of students, their understanding have been evaluated using personal interview.
During selection of respondents, simple random sample has been chosen. Respondents have been chosen from each class with equal probability irrespective of gender, culture and religion. Questionnaire has been prepared to collect information from business students of LSC. Close ended questions has been set and for qualitative study open ended questionnaire has been set. 50 students have been chosen randomly as sample size. Among them 3 students has been selected for recoding comments on CSR. Comments of two students have been recorded as these were significant.
Researcher has to follow some ethical norms while conducting the study in a educational Institute. According to Zikmund et al. (2013), norms are needed to follow, which promotes the aims of the research in the form of knowledge, truth and avoidance of error. Misrepresentation of data can affect the respondents and the target group of the research (Onwuegbuzie and Frels 2013). Therefore, at every stage of the research, researcher has maintained the secrecy of data and information received the respondents. Name and identity of the respondents have been kept secret. Maintaining ethical standard promote values that brings trust, accountability and fairness of the research (Stahl 2014). While accessing secondary data, guidelines of collecting information, confidentiality rules have been followed strictly.
Main limitation of the study is time constraints. As students are busy with their time schedule, researcher has to do the research within break time of the students. Therefore, face-to-face interview with a large number of students have been a problem. Due to time constraints, there was not much scope to devote much time for every respondent for a longer time to conduct psychometric test. Hence, researcher had to conduct a short survey and applied personal intuition in evaluating opinion of the respondents. Therefore, interpretation may differ from the actual level of understanding of the students from the understanding of the researcher.
Conclusion
This chapter has discussed on the followed method in carrying out the research. Method outline and research design have highlighted details analysis of the data collection, research philosophy, data analysis method. Interpretivism research philosophy has been chosen. Bothe primary and secondary data collection method has been used. Mixed data analysis approach has been considered. Therefore, data analysis has started with quantitative study and followed by the qualitative study. Questionnaire and psychometric test have been carried out to evaluate the understanding about CSR among business students of LSC. 50 students have been chosen randomly without any bias. Among the respondents, 3 students have been chosen for qualitative study although opinion of two students has been considered. Detailed face-to-face interview has been tested on three students.
Findings
The study has been conducted through primary survey on the student on the London School of Commerce. 50 students have responded for the questions asked to them. In order to get a quick response, a set of 15 close ended questionnaires have been distributed. All the questions have been segmented into 5 point and 3 point Likert scale as per necessity. First three questions are general to evaluate general concept of CSR among students. Next 9 questions are specific to the components of CSR. Last six questions have been asked to know the student view about the role of their institution regarding developing CSR awareness.
|
N |
Mean |
Std. Deviation |
|
|
Necessity of CSR |
50 |
2.44 |
1.09096 |
|
Important CSR component |
50 |
3.0400 |
1.29300 |
|
CSR course |
50 |
3.7800 |
.64807 |
|
Valid N (listwise) |
50 |
Table 2: Descriptive statistics of first three questions
Descriptive statistics in table 2 shows that the mean response for each question. Average response for necessity of CSR has been for option 2, which indicates that respondents agreed with the necessity of CSR. According to most of the respondents, community engagement is the most important components of CSR for a company. Students have responded that there is no specific CSR course or training programme in LSC. Standard deviation shows how responses deviate from the mean value. Responses, which has least standard deviation is more reliable.
Figure 2: CSR course in LSC
(Source: created by author)
Among 50 respondents, most of the students disagree about the CSR study in their institution. They conveyed that there is no specific CSR course in their course structure. 10% students among the respondents have no idea about the presence of CSR course in their module. 4% respondents agreed that they are taught about the CSR components however not specifically. Nevertheless, it can be demonstrated that LSC has no specific CSR oriented course in the undergraduate level, although students have knowledge about CSR as overall courses reflects so.
Figure 3: Student view regarding necessity of CSR
(Source: created by author)
40% of the respondents believe that business organisations should perform corporate social responsibilities and 20% of them strongly belief that. According to them CSR facilitates the business organisations to make relationship with the stakeholders and external shareholders stronger. 18% student gave no consent about their opinion. This means they have no clear view about CSR. 20% respondents disagreed with the necessity of CSR. According to their view, CSR increases cost of business operations as performing social responsibility generates no profit.
Figure 4: Important CSR component for business as per view of future business leaders
(Source: created by author)
The students of LSC are future business leaders. Therefore, students were asked about their preferences regarding the components of CSR. 26% respondents valued community engagement as a part of business responsibilities. They demonstrated that community engagement enhances the relationship with customers, share holders and suppliers. This process may help to achieve customer loyalty, which is essential for the sustainability of business.
22% of respondents think that health and safety policy for employees needs to be given priority along the business performance. According to them employees well being should be given prior importance before performing other responsibilities. 14% marked for corporate governance. In their view, proper governance of organisational culture, practice of management policies is important component of CSR. 11% gives priority to the environment related policies.
Regression have been conducted to evaluate the impact of independent variables on dependent variables. Dependent variable is importance of CSR and independent variables are health and safety, environment and business ethics. Regression model has been for each of the chosen CSR components and their relationship with the CSR awareness.
Regression of Health and safety policy on CSR awareness
|
ANOVA1 |
||||||
|
Model |
Sum of Squares |
df |
Mean Square |
F |
Sig. |
|
|
1 |
Regression |
8.188 |
2 |
4.094 |
3.838 |
.029 |
|
Residual |
50.132 |
47 |
1.067 |
|||
|
Total |
58.320 |
49 |
||||
|
Model |
Unstandardized Coefficients |
Standardized Coefficients |
t |
Sig. |
||
|
B |
Std. Error |
Beta |
||||
|
1 |
(Constant) |
1.476 |
.640 |
2.305 |
.026 |
|
|
HS1 |
.604 |
.218 |
.375 |
2.771 |
.008 |
|
|
HS2 |
.019 |
.209 |
.012 |
.090 |
.929 |
|
|
Table 3: Regression of Health and safety policy on CSR awareness |
ANOVA table in regression analysis indicates the significance of the model and significance of the individual variables. It is statistical measure used in quantitative analysis. F value indicates overall significance of the model. Significance of the variable is judged by t value and significance value. A significance value less than 0.05 indicates that the independent variable is significant and vice versa [referred to appendix]. This model is overall significant. As per student response regarding occupational safety and basic housing, food and sanitation facility together can explain the necessity of CSR in business. Students strongly agree that organisations need to follow health and safety policy in business operation and management. However, among two question asked, the response regarding occupational safety has been turned out to be significant, where as the response regarding housing facility is insignificant. However, this result can be considered as the overall model is significant.
Regression of environmental components on CSR awareness
|
ANOVA2 |
||||||
|
Model |
Sum of Squares |
df |
Mean Square |
F |
Sig. |
|
|
1 |
Regression |
2.663 |
3 |
.888 |
.734 |
.537b |
|
Residual |
55.657 |
46 |
1.210 |
|||
|
Total |
58.320 |
49 |
|
Model |
Unstandardized Coefficients |
Standardized Coefficients |
t |
Sig. |
||
|
B |
Std. Error |
Beta |
||||
|
1 |
(Constant) |
2.542 |
.487 |
5.221 |
.000 |
|
|
EV1 |
.077 |
.171 |
.065 |
.450 |
.655 |
|
|
EV2 |
.078 |
.134 |
.084 |
.580 |
.565 |
|
|
EV3 |
-.213 |
.167 |
-.184 |
-1.274 |
.209 |
|
|
Table 4: Regression of environmental components on CSR awareness |
The second regression shows that overall model is insignificant. The independent variables fail to explain the necessity of CSR awareness both individually or all together. Therefore, this P value or the significant values both are less than 0.05 and hence insignificant. Students’ response on pollution prevention activity, product content restriction and infrastructure for solid waste management fail to explain the necessity of CSR awareness.
|
ANOVAa |
|||||||||||||||||||||||||||||||||||||||
|
Model |
Sum of Squares |
df |
Mean Square |
F |
Sig. |
||||||||||||||||||||||||||||||||||
|
1 |
Regression |
1.505 |
4 |
.376 |
.298 |
.878b |
|||||||||||||||||||||||||||||||||
|
Residual |
56.815 |
45 |
1.263 |
||||||||||||||||||||||||||||||||||||
|
Total |
58.320 |
49 |
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||
|
Table 5: Regression results of ethics on CSR awareness |
The third regression result is also insignificant. The overall significant value of the model and individual significance values are greater than 0.05. Responses of four questions individually cannot explain efficiently the necessity of CSR in business organisations.
|
Model Summary |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Model |
R |
R Square |
Adjusted R Square |
Std. Error of the Estimate |
|||||||||||||||||||||||||||||||||||||||||||||||
|
1 |
.171 |
.029 |
.009 |
.30732 |
|||||||||||||||||||||||||||||||||||||||||||||||
|
Table 6: Regression of Role of LSC on CSR awareness
Dependent variable in this last model is CSR awareness, which has been obtained from the mean value of CSR components such as environment, ethics and health and safety policies. Role of CSR value has been obtained from the average value of the responses of six concerned questions. R value is the .171, which states that there is low correlation between the dependent and the independent variable. Overall p value or the significance value is .235> 0.05 and the p value for role of LSC is also insignificant. Therefore, from statistical analysis on collected data, it can be stated that the LSC has no significant role in developing CSR awareness among students, who are supposed to be the future business leaders.
London School of Commerce in UK provides cost effective business education to the students. Students from different nationality study here. The total business education courses in this institution include business accounting, human resource management, innovation and technology management. The course outline of the LSC demonstrate that major learning outcome of the course structure is understanding of complexity of business, developing problem solving and decision making skills among the future business leaders. The objectives of the business education taught at LSC are developing cognitive, professional and transferable skills among students as per feedback. Although there is no specific CSR related course in the study outline, the objective of practical and profession skill is to develop business knowledge in relation to the environment, social and political context.
Although as per responses, model has been turned out to be insignificant, the perceptions of students recorded during the interview suggest other views. According to the students the course outline of their institutions are so designed that reflects values of CSR. As UK business is giving importance to the CSR, the course outline is efficient to teach about health and safety at workplace, responsibility as a leader in a business. The empirical results advocate that there is no significant role of LSC in creating CSR. It has been seen from the responses that there are few students, who have no clear idea about CSR and what specific role they need to perform as a business leader. Some of them even provided negative feedback. It may happen that as there is no specific course on CSR, some students think their institution does not teach on corporate social responsibility of a business group.
Effectiveness of the CSR course structure can be evaluated from the knowledge of the student regarding CSR. Most of the student of LSC has gave positive feedback.
There is no specific course module regarding CSR, however, students are taught how to tackle external environment in order to flourish business growth. Students gain knowledge how to maintain ethical aspects as a business leader in an organisation.
According to the view of this student, occupational safety at workplace needs to be ensured for every employee. Moreover, as employees are important stakeholders, organisation requires securing their interest with great important. Profitability of an organisation depends on the ability and efficiency of the employees along with sound corporate governance. Hence, labour policy such as wage structure, pay and performance structure needs to be such that these can be used for talent development and effective human resource management. Organisation health and safety policy increases wellbeing of employees and their family, which helps to increase employee loyalty. Employee loyalty reduces the rate of turn over, absenteeism and acts as catalysts for the growth of the organisation. As a future business leader, this student has emphasised on environment and community engagement aspect of CSR.
According to this view, business education of LSC is more profit oriented and radical rather than social. Corporate social responsibilities create additional burden for the business organisation. CSR increase the expenditure on aspects other than business, without any profit. Therefore, the CSR may decrease the dividend of the shareholders and retained earnings. Therefore, these kinds of activities, which have no tangible profits, need to be cut to increase profitability of the business. Moreover, this student depicted that there should not be any product content restriction as this reduces the scope of product differentiation in the market, which may have negative impact on business. However, this student has gave positive view on the infrastructure of solid waste management as business has responsibility towards environment, which in turn associated with the social benefits.
It can be evaluated from the above analysis that students of LSC have sufficient knowledge on CSR. However, there are differences in the views may be because of variation in learning experience. As there is no specific CSR course in this institution, students gave their feedback from their personal understanding. Therefore, some of the students have been able to explain effectively on the positive or negative effects of CSR, some failed to make any comments. It can be derived from the analysis that LSC has significant role in developing business knowledge and other cognitive skills among the future business leaders. However, a specific course emphasising CSR would have been better for students to grow up knowledge as importance of CSR is growing in UK and world business.
Conclusion and recommendation
This chapter summarises the overall findings of the study. It concludes the findings based on both qualitative and quantitative studies. The findings from chapter 4 are linked with the literature review and objectives of the study. The chosen methodology has been applied in this research however, still have some limitations.
It has been studied from both literature review and findings chapter that business education plays significant role in the development of the CSR knowledge. As per literature review, most of the business schools does not have specific business education course on CSR. Mostly profit oriented business education in taught there. However, the course materials reflect some aspects of CSR such as business ethics, responsibility towards shareholders and other stakeholders. It has been studied that the present courses are effective for labour policy and talent development in organisation.
UK is an important global business centre. Therefore, competition among the business firms is greater in UK. Along with this, effect of Brexit in recent days has created turmoil in business environment of UK. Therefore, in this situation, only profit oriented strategy may not be turned out to be effective strategy for business. Corporate social responsibilities can play important part in this ground to bring competitive advantage in the market. Design of socially used products, ensuring policyholder satisfaction, socially responsible investment principle, reduction of ecological footprint, managing local impact of business, improvement of work environment, bringing gender equality can enhance sustainability of the UK businesses.
As per the findings of the research, the quantitative study argued that LSC has no significant role in developing CSR knowledge among future business leaders as the variables hav turned out to be insignificant. However, researcher has got mixed responses from the student. Most of the respondent students have sound knowledge on CSR. Some of them have sound knowledge and some of them have no clear knowledge about the necessity of CSR in business. There course structure of the business school is well organised, however, needs to focus more on CSR to create greater impact on future business. As per the needs of business in UK, future business of UK needs to have competencies and skills to perform CSR. LSC requires to emphasis on this aspect more.
It can be recommended from above analysis that the London School of Commerce may introduce a separate course on CSR. CSR course needs to include the aspects of community care and environmental study. The community course may include the study if employability for physically challenged people, employability skill development capacity, talent development techniques within organisation, support to the vulnerable community of the society and other possible aspects in the context of UK economy. The course may highlight problem solving techniques of some local problem of UK society. The study of reducing ecological footprint is a major concern for the UK businesses. The curse may include study on employee volunteerism. LSC may take initiative to include courses on water conservation, energy conservation, protection of natural resources and pollution management. These studies may help to develop sufficient knowledge regarding the social and corporate values. Participation in various degrees of CSR may improve dynamism and leadership skills.
As per changing nature of business models in global environment, CSR would be compulsory to be implemented in future, as the need the ‘ethical customer’ in business is decreasing. CSR would be necessary to handle complexity of business such as managing supply chain, human resource. CSR may help to improve strategic thinking capacity of the future business leaders. Collaboration with NGOs in UK society may be effective for business firm to achieve competitive advantage as cost leadership policy may not be only solution. Introduction of dedicated course on business ethics and CSR may enhance the role LSC in developing skills of future leader for UK business.
Main limitation of study is small sample size. Due to institutional constraints researcher had to work with limited student of LSC. In order to make qualitative analysis, the researcher required to interview more number of students greater than 3. Opinion of more students might make the analysis robust and more justified. Due to small sample, there is sampling fluctuation and sampling error in this study. Due to small sample, most of the variables have appeared to be insignificant. There are discrepancies in the qualitative and quantitative results of the study. Details analysis might have reduced the sampling error to reflect opinion of the students.
As the current sample sampling does not reflect the student perception clearly, further research can be done using large sample size. Large sample size may find greater correlation among the variables. In order to have the analysis more critical and reliable, researcher need to conduct details qualitative analysis trough personal interview of more respondents. Future researcher may work to find other aspects of CSR, CSR course design and methodology issues to focus more in the concerned matter.
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