Investigating the Impact of National Cultural on the International Market Assignment Sample

Introduction Of Investigating the Impact of National Cultural on the International Market: A Cross-cultural Analysis

Background

Corporate social responsibility (CSR) is stated as a concept with the help of which businesses try to make a balance between social, economic and environmental working. The company operates in the external environment and it is its responsibility of them that they take care of the environment and the people working there. Thus, for this, the current study is conducted as it will help the business understand the significance of CSR while operating in the international market. The current study is based on Next plc which is a British multinational company founded by Joseph Hepworth in the year 1864. The current proposal will outline the aim and objectives of the study along with the research questions. Further, the evaluation of the views of different authors relating to the research objectives will be outlined along with the methodology selected.

Aim and Objectives

Aim

‘To analyse the CSR and its significance with regards to Next plc.'

Objectives

• To understand the concept of CSR and its use in the fashion sector.
• To evaluate the significance of the CSR and its application within Next plc.
• To examine the different strategies that Next plc uses to accomplish CSR practices.
• To recommend some of the ways to improve the application of CSR into practice for Next Plc.

Research questions

• What is the concept of CSR?
• What is the importance of CSR for the fashion sector?
• What are the various practices and strategies that will be used for implementing CSR practices?
• What are some of the recommendations for improving CSR practices?

Rationale

In the current competitive environment, compliance with CSR practices is very important. The competition within the market is intense and for this, the company must comply with all the CSR practices effectively. The reason for selecting the research topic is that currently CSR is trending and companies must comply with it. Hence, for this selection topics relating to CSR practices and their significance are selected. Along with this, the reason for the selection of this as the research topic was the personal and academic interest of the researcher.

Literature Review

In the views of Sánchez?Torné, Morán?Álvarez and Pérez?López, (2020) CSR is referred to as a concept in which the company tries to integrate the environment and social concerns within the business operations. This is very necessary because when the company focuses on activities that protect the environment and society then it will be more liked by the consumers. This is about the fact that when the company will not harm society then more people will be attracted towards the company. Hence, as a result of this, the efficiency of the company will be improved and the number of consumers will also increase.

On the other side Ajina and et.al., (2019) argued that within the fashion sector, appropriate CSR practices must be followed. This is about the fact that when effective CSR practices comply then this ensures that the strategies of the company are good and they are trying to protect the environment. Thus, for this, it is crucial for these companies they effectively implement and use CSR practices so that they attract the majority of the consumers. Hence, compliance with good CSR practices assists the business in securing a good position within the international market.

Further, What is the importance of CSR? (2022) stated that using CSR practices is very important for companies operating in the fashion sector and other sectors as well. The major importance of complying with effective CSR practices is that the brand value is increased. This is particularly for the reason that when a company thinks of protecting the environment then this increases the brand value. It is for this reason that when a company implement a well-managed CSR program then it assists them to enhance their brand equity and value. This in turn assists the business in increasing brand awareness as well because compliance with CSR practices helps in improving the efficiency of business.

On the other side, Cyfert, Glabiszewski and Zastempowski, (2021) criticized that another importance of complying with the CSR practices is employee and consumer retention. It is for this reason that when CSR practices are used effectively employees feel happy working in such a company and they remain within the company for longer. Along with this, compliance with CSR practices also attracts the majority of the consumers and they are also loyal to the company for a longer period. Hence, as a result of this, both the employees and consumers are growing for the company and ultimately this will increase the sales of the business. Thus, as a result of this, the overall sales of the company will increase and it is beneficial for the business to grow in a highly competitive market.

On a contradictory note, Golob and et.al., (2019) state that following the different types of CSR practices is essential for the effective working of the company. The most common practice of CSR for the fashion industry is to focus on participating in fair trade. When the company operates in the international market then it is their responsibility that they must work fairly. The reason behind this fact is that there is intense competition in the international market and many times the company uses unfair and unethical practices to face the competition. Thus, for the effective implementation of CSR practices the companies must comply with fair trade practices. This is necessary as compliance with fair practices will provide a base for the company to work ethically and correctly.

In support of this Feder and Weißenberger, (2021) stated that focusing on inclusion, equality and diversity is another strategy for practising effective CSR. This is a good strategy as it focuses on including every employee within the company's policies and practices. Along with this the company must also work with equality and must not discriminate among the employees. This is very necessary for the companies that they must use any of the discriminatory policies. Companies must focus on promoting equality so that employees are happy and satisfied.

Research Methods

Research type

Research type is defined as the method through which the research can be completed effectively. In general, two types of research are qualitative and quantitative. Qualitative research is the one which undertakes the use of all the non-numeric information whereas quantitative study undertakes the use of data, facts and figures (Lê and Schmid, 2022). To complete the present study based on CSR, the use of qualitative study will be undertaken. The reason for selecting qualitative study is that it assists in developing theoretical knowledge relating to the research topic.

Research approach

The approach of research is defined as the steps which are used to select the methods. Inductive and deductive are the two types of approaches that can be used by the researcher. Inductive is the one which assists in setting up aim and objective and deductive aims at setting up the hypothesis. For the successful completion of the current study use of an inductive approach will be used because it helps in setting an aim and objective which provides are clear based on the completion of the study.

Research Philosophy

Research philosophy is referred to as the beliefs and values that underlie the selection of any research method. Positivism and interpretivism are the two research philosophies that are used to complete the study (Luo and et.al., 2022). Positivism is the one which is based on factual information and interpretivism is one which includes non-numeric facts. To complete the current study use of interpretivism will be made as it is more suitable in the case of a qualitative study.

Data collection

Data collection is stated as gathering data relating to the research topic. Data can be collected from two different sources: primary and secondary. The primary is the one which includes first-hand information collected directly from the respondent. On the other hand, secondary includes already used data such as books, journals, articles and others (Bougie and Sekaran, 2019). For the successful completion of the study, the use of a combination of primary and secondary data will be used. The primary data is used to get the first information and this will be authenticated with the help of secondary sources.

Sampling

The sample is defined as the respondents from whom the data will be gathered. For the successful completion of the study appropriate sample selection is necessary. To complete the current studies the use of random sampling will be made and a total of 20 respondents from the company will be selected for gathering the first-hand data.

Data analysis

Data analysis is stated as the evaluation of the data gathered to attend to the objectives. For the Analysis of data, two different techniques are thematic analysis and the use of SPSS. To make the study successful in attaining the objectives the researcher will undertake the use of thematic analysis (McGill and et.al., 2021). Thematic analysis includes making themes and then evaluating the data gathered from primary respondents. Thereafter the evaluation is authenticated by the views of different authors gathered with the help of secondary sources.

Timeline

References

Books and Journals

• Ajina, A.S. and et.al., 2019. The importance of CSR initiatives in building customer support and loyalty: Evidence from Saudi Arabia. Asia Pacific Journal of Marketing and Logistics, 31(3), pp.691-713.
• Bougie, R. and Sekaran, U., 2019. Research methods for business: A skill building approach. John Wiley & Sons.
• Cyfert, S., Glabiszewski, W. and Zastempowski, M., 2021. Impact of management tools supporting Industry 4.0 on the importance of CSR during covid-19. generation z. Energies, 14(6), p.1642.
• Feder, M. and Weißenberger, B.E., 2021. Towards a holistic view of CSR-related management control systems in German companies: Determinants and corporate performance effects. Journal of Cleaner Production, 294, p.126084.
• Golob, U., and et.al., 2019. The importance of corporate social responsibility for responsible consumption: Exploring moral motivations of consumers. Corporate Social Responsibility and Environmental Management, 26(2), pp.416-423.
• Lê, J.K. and Schmid, T., 2022. The practice of innovating research methods. Organizational Research Methods, 25(2), pp.308-336.
• Luo, P., and et.al., 2022. Urban flood numerical simulation: Research, methods and future perspectives. Environmental Modelling & Software, 156, p.105478.
• McGill, E., and et.al., 2021. Evaluation of public health interventions from a complex systems perspective: a research methods review. Social Science & Medicine, 272, p.113697.
• Sánchez?Torné, I., Morán?Álvarez, J.C. and Pérez?López, J.A., 2020. The importance of corporate social responsibility in achieving a high corporate reputation. Corporate Social Responsibility and Environmental Management, 27(6), pp.2692-2700.

Online

• What is the importance of CSR? 2022. [Online]. Available through: < https://thecsrjournal.in/what-is-the-importance-of-csr/#google_vignette >