A proposed framework for CSR implementation and impact assessment from organization and CSR beneficiary perspective

Abstract

Though organizations make massive expenditures in corporate social responsibility (CSR) activities, they fail to gauge the social and economic impact on the beneficiaries (Barnett, Henriques, & Husted, 2020). This study aims to provide a comprehensive framework that enables CSR activity identification, implementation, and impact assessment for an organization, considering the perspectives of important stakeholders in the CSR activity. First, the paper reviews the research literature related to CSR and CSR impact assessment and proposes a framework that addresses the research gaps found in the literature. The five-step framework for CSR activity identification, implementation, and impact assessment infuses the stakeholder perspective. It identifies the broad parameters that can be used to assess the impact of the CSR activity. Suggested criteria entail qualitative and quantitative evaluation practices, thus ensuring holistic impact assessment (Drews, 2010; Weber, 2008). The framework will enable transparent reporting of CSR expenditure and ensure disclosure of the actual impact made by CSR at the ground level. The accountability in reporting through the framework will curb CSR washing and decoupling. The stakeholder perspective emphasizing CSR beneficiaries and the impact assessment parameters provide a novel way of implementing and assessing CSR activity.

Keywords: Corporate Social Responsibility, CSR Impact Assessment, CSR Implementation, CSR Governance

Authors’ individual contribution: Conceptualization — A.D.; Methodology — A.D.; Resources — H.M.; Writing — Original Draft — A.D.; Writing — Review & Editing — H.M.; Visualization — H.M.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: A13, M00, M14, Q01

Received: 16.08.2021
Accepted: 13.12.2022
Published online: 16.12.2022

How to cite this paper: Dixit, A., & Mishra, H. (2022). A proposed framework for CSR implementation and impact assessment from organization and CSR beneficiary perspective. Corporate Governance and Sustainability Review, 6(3), 60–67. https://doi.org/10.22495/cgsrv6i3p5