International Journal of Business Ethics in Developing Economies

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Corporate Social Responsibility in Hospitals: Need for Transparent CSR Initiatives for Internal and External Stakeholders


Affiliations
1 National Law University, Jodhpur, Rajasthan, India
     

   Subscribe/Renew Journal


Social Responsibility initiatives are the indispensible strategies for governance and this applies equally well in the field of Corporate framework also. In the recent times, the corporate houses other than healthcare industry, evidently demonstrated that strategic balance among social, environmental, and commercial goals can be accomplished. Corporate hospital's contemporary functioning rests on the anarchic assumptions that healthcare industry functions on the notion that "what is good for patients or society cannot be good for business". At a time when patients are overexposed to medical procedures and medical treatment is within the reach of affordability of only those who are well insured, there arises a question,'is it not essential for corporate hospitals to adopt CSR initiatives'. An important corollary question, that also needs to be examined, is whether and for what reasons CSR initiatives must be nurtured by Corporate Hospitals. Drawing up from the existing research studies on CSR in corporate hospitals in Indian scenario i.e., corporate hospitals and healthcare sector, this paper (i) undertakes a thorough examination of the CSR initiatives needs a thorough examination; (ii) examines the implications of modelling of CSR in corporate hospitals so as to create a right balance between their social and economic objectives; (iii) to this extent, the paper 'hypothesizes' that (a) employee costs of corporate hospitals may positively increase due to CSR initiatives; (b) profit maximization i.e. positive increases due to CSR initiatives; and (c) the degree of workforce efficiency positivelyincreases sales turnover due to CSR initiatives.

Keywords

Corporate Social Responsibility (CSR), Financial Performance, Reputation, Healthcare Services, Corporate Hospitals.
Subscription Login to verify subscription
User
Notifications
Font Size


  • Alexander, G. J., & Rogene A. B. (1978). Corporate social responsibility and stock market performance. Academy of Management Journal, 21(3), 479-486.

  • Andriof, J., Waddock, S., Husted, B., & Rahman, S. S. (Eds.), (2002). Unfolding Stakeholder Thinking: Theory, Responsibility and Engagement: Sheffield: Greenleaf.

  • Baker, M. (2010). Corporate Social Responsibility - What does it mean? Retrieved fromhttp://www.mallenbaker.net/csr/definition.php

  • Clarkson, M. (1995). A stakeholder framework for analyzing and evaluating corporate social performance. Academy of Management Review, 20(1), 92.

  • Colquitt, J. A. (2001). On the dimensionality of organisational justice: A construct validation of a measure. Journal of Applied Psychology, 86,386-400.

  • Cornell, B., & Alan, S. (1987). Corporate stakeholders and corporate finance. Financial Management, 16, 5-14.

  • Carroll A. B. (1991). The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders, Business Horizons, 34(4), 1991.

  • Delbridge, R., Gratton, L., & Johnson, J. (eds). (2006). The exceptional manager. Oxford: Oxford University Press. European Commission. (2001). Promoting a European framework for corporate social responsibility. Green Paper and COM (p. 366). Brussels.

  • Fox, A. (2008). Get in the business of being green. HR Magazine, 53(6), 44-50.

  • Francis, A., & Tharakan, P. (eds.) (1989). The concept of competitiveness, The Competitiveness of European Industry, London, Routledge.

  • Freeman, R.E. (1984). Strategic Management. A Stakeholder Approach. Marshfield, MA: Pitman.

  • Gioia, D. A., & Chittipeddi, K. (1991). Sensemaking and sensegiving in strategic change initiation.Strategic Management Journal, 12(6), 433-448.

  • Hill, C .W. L., & Thomas, M. J.(1992). Stakeholder-agency theory. Journal of Management Studies,29,131-154.

  • Hu Y-C., & Chia Chung, F.W. (2009).Collectivism, corporate social responsibility and resource advantages in retailing. Journal of Business Ethics, 86(1), 1-13.

  • Ingram, R.W. (1978). An investigation of the information content of (Certain) social responsibility disclosures. Journal of Accounting Research, 16, 270-285.

  • Klonoski, R. J. (1991). Foundational considerations in the corporate social responsibility debate. Business Horizons, 34(4), 13.

  • Philip, K., & Nancy, L. (2005).Corporate social responsibility: Doing the most good for your company and your cause. John Wiley & Sons.

  • Drumwright, M. (1994). Socially responsible organizational buying: Environmental concern as a non-economic buying criterion, Journal of Marketing, 58(3), 1-19.

  • Orlitzky, M., Schmidt, F. L., & Rynes, S.L.(2003). Corporate social and financial performance: A meta-analysis. Organization Studies, 24, 403-441.

  • Lam, H. & Khare, A. (2010). HR's crucial role for successful CSR. Journal of International Business Ethics, 3(2), 3-15.

  • Maignan I., & Ferrell, O. C. (2001). Antecedents and benefits of corporate citizenship: an investigation of French businesses. Journal of Business Research, 51(1), 37-51.

  • Marcus, B.,& Coffman, C. (1999). First, Break all the Rules: What the World’s Greatest Managers Do Differently. Simon & Schuster.

  • Margolis, J. O., & Walsh, J. P. (2003). Misery loves companies - rethinking social initiatives by business. Administrative Science Quarterly, 48, 268-305.

  • McGuire, J. B., Sundgren, A., & Schneeweis, T. (1988). Corporate social responsibility and firm financial performance. Academy of Management Journal, 31(4), 854-872.

  • Min-Dong, P. L. (2008). A review of the theories of corporate social responsibility: Its evolutionary path and the road ahead. International Journal of Management Reviews, 10(1), 53-73

  • Moskowitz, M. R. (1972). Choosing socially responsible stocks. Business and Society Review, 1, 71-75.

  • Pava, M. L., & Krausz, J. (1996). Corporate Responsibility and Financial Performance. The Paradox of Social Cost. London: Quorum Books.

  • Preston, L. E., & O'Bannon, D. P. (1997). The corporate social-financial performance relationship: A typology and analysis. Business and Society, 35(4), 419-429

  • The Companies Act. (2013). Taxmann, (1) 135-136 Vance, S. C. (1975). Are socially responsible corporations good investment risks? Management Review, 64, 18-24.

  • Waddock, S. A., & Graves, S. B. (1997). The corporate social performance-financial performance link.Strategic Management Journal, 18, 303-313.

  • World Business Council on Sustainable Development. (2000). Corporate Social Responsibility: Making Good Business Sense’ Retrieved from www.wbcsd.org


Abstract Views: 320

PDF Views: 4




  • Corporate Social Responsibility in Hospitals: Need for Transparent CSR Initiatives for Internal and External Stakeholders

Abstract Views: 320  |  PDF Views: 4

Authors

Leela Vedantam
National Law University, Jodhpur, Rajasthan, India

Abstract


Social Responsibility initiatives are the indispensible strategies for governance and this applies equally well in the field of Corporate framework also. In the recent times, the corporate houses other than healthcare industry, evidently demonstrated that strategic balance among social, environmental, and commercial goals can be accomplished. Corporate hospital's contemporary functioning rests on the anarchic assumptions that healthcare industry functions on the notion that "what is good for patients or society cannot be good for business". At a time when patients are overexposed to medical procedures and medical treatment is within the reach of affordability of only those who are well insured, there arises a question,'is it not essential for corporate hospitals to adopt CSR initiatives'. An important corollary question, that also needs to be examined, is whether and for what reasons CSR initiatives must be nurtured by Corporate Hospitals. Drawing up from the existing research studies on CSR in corporate hospitals in Indian scenario i.e., corporate hospitals and healthcare sector, this paper (i) undertakes a thorough examination of the CSR initiatives needs a thorough examination; (ii) examines the implications of modelling of CSR in corporate hospitals so as to create a right balance between their social and economic objectives; (iii) to this extent, the paper 'hypothesizes' that (a) employee costs of corporate hospitals may positively increase due to CSR initiatives; (b) profit maximization i.e. positive increases due to CSR initiatives; and (c) the degree of workforce efficiency positivelyincreases sales turnover due to CSR initiatives.

Keywords


Corporate Social Responsibility (CSR), Financial Performance, Reputation, Healthcare Services, Corporate Hospitals.

References