is a monetary contribution from corporate body which can apparently be seen as

Is a monetary contribution from corporate body which

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is a monetary contribution from corporate body, which can apparently be seen as a monetary loss. In case of Marks & Spencer, their corporate social responsibility include their donations in the global anti-hunger movements, and their direct philanthropic movements such as arranging for distribution of apparels to the needy people in the underdeveloped countries in Africa (Marksandspencer.com, 2019). Furthermore, the waste reduction approaches of Marks & Spencer is a part of their corporate social responsibility. Thus, it can be realised that the concepts of corporate profitability and the concept of corporate social responsibility contradicts each other, as one of them measures the incoming flow of monetary fund and the other is a part of the outgoing flow of monetary fund. However, Singh and Hanafi (2019) argued that the maintenance of these two business operations is essential for the business organisations. As corporate profitability is directly related to the personal income of the members of the corporate body, it is essential for the organisations to maximise their corporate profitability, but for large organisations, especially the multinational corporations, it is also essential to maintain a certain level of corporate social responsibility as well. The reasons behind this are many, but the two major reasons are related to the legislations and the brand image of the business organisation. For instance, Crane, Matten and Spence (2019) argued that in the UK, there are strict and detailed legislations and regulations regarding the corporate social responsibility of the organisations, and it dictates that the business organisations have to invest at least 2% of their annual profit in various activities related to their corporate 10
ANALYSIS OF INTERNATIONAL BUSINESS STRAGIES: MARKS AND SPENCER’S social responsibility. Furthermore, Wang et al. (2016) argued that the brand image of a business organisation is also related to their corporate social responsibility. As a business organisation maintains their corporate social responsibility by conducting various activities related to social welfare and environmental protection, they start contributing back to the society that have provided that organisation with a customer segment to do their business with. Thus, according to Strange and Zucchella (2017), it significantly enhances their brand image among the public by creating a positive impression. In case of Marks & Spencer, their business operations are related to the retail industry. Thus, it is essential for their governing corporate body to maintain a certain level of business profitability that will ensure the sustainability of their business capital. However, at the same time, Marks & Spencer also have to maintain the regulations and laws regarding corporate social responsibility, and invest in various social welfare movements or activities. Hopkins (2016) argued that in order to create a perfect balance between them, Marks & Spencer have to integrate their corporate social responsibility related activities with their retail business operations. For instance, it is

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