FO lecture 3 NB[1]

FO lecture 3 NB[1] - The findings by Bala Ramasamy and...

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The findings by Bala Ramasamy and Mathew Yeung suggested that Chinese consumers are more supportive of corporate social responsibility than their European and American counterparts. Four aspects of CSR are studied—economic, legal, ethical and philanthropic. Two Chinese cities, Hong Kong and Shanghai, which are in different phase of economic development, are selected for a survey. Ramasay and Yeung conducted and presented this research in a way that enhances our understanding from a
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customers’ perspective in a Chinese setting. Ramasay and Yeung elaborate their findings by presenting us with an overview CSR in various countries and dimensions, discussions on the results they have on Chinese consumers and the implications and limitations of such finding in real life. Consumers around the world are aware of CSR to various extents More product choices, income, education and brand consciousness along with the increasing availability
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of ethical products have resulted in more socially conscious consumers. Apart from price and quality, consumers are also concerned about how they are treated while basic functional features of goods and services are not to be sacrificed at the same time. Cultural dimensions come into play of consumers’ different perspectives in CSR. A highly individual culture encourages consumer activism. However, it is noticeable that most individualistic countries are developed nations. In
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developing countries where average income is low, consumers may under- estimate their role in the market. In such situations, consumers may tend to emphasize the economic responsibility of businesses, as this will secure jobs and income. In this case, legal responsibilities to developing countries are deemed as more important than philanthropic responsibilities. Economic the first, philanthropic the last
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The mean response of above 5 (out of 7) for both Hong Kong and Shanghai is an indication that CSR is important among Chinese consumers. Compared to the results found by Maignan (2001) for the West (4.95, 5.19 and 4.40 for France, Germany and the US, respectively). The level of consumer support for responsible business in Hong Kong is significantly lower than in China. Hong Kong consumers consider all four types of responsibilities as part of social responsibility. In the Shanghai
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example, economic responsibilities appeared significantly more important than others. Nevertheless, results from both regions gave the same ranking of economic responsibility being the most important and philanthropic be the least. Implications and Limitations (a). Since consumer perception of CSR varies across China, multinationals need to adapt their strategies to suit the needs in each location. For example, economic performance can
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be highlighted as good CSR practice but not necessarily in Shanghai. It is required to keep a good balance of various responsibilities. (b). Even though the expectation is
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This document was uploaded on 11/02/2011 for the course BUSINESS 300 at Rutgers.

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FO lecture 3 NB[1] - The findings by Bala Ramasamy and...

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