Professional University Assignment on Corporate Social Responsibility of Toyota
Statement of the problem
Corporate social responsibility initiatives have gained popularity over the years (Carroll, 2015). Competitive firms these days understand that they need to invest in CSR activities and give back to society. These initiatives help organizations as it helps in increasing brand loyalty of the firm. Toyota Motor Corporation is a major leading player among the automotive manufactures. It is a Japanese brand and is regarded second largest player. Toyota has a strong reputation in the market about is credibility and reliability. It has now become “second largest automobile manufacturer” because of the value that it offers to its valued customers (Minor & Morgan, 2011).
Although Toyota pays emphasis on CSR initiatives however Marques and Mintzberg (2015) highlight that focusing on CSR activities in today’s competitive world is necessary. It is hence essential to invest in CSR activities in a way that value is maximized for the customers and ultimately brand value increase. Bassell, Fischer and Friedman (2015) further highlight that today it is extremely important to pay special attention to business ethics and CSR activities are one part of these ethics. It is a social responsibility of the firm to give something back to the society. They further argue that CSR initiatives help in improving image of the brand among the current and potential customers. However the importance needs to be given to the way CSR initiatives are designed.
The aim of the paper is to identify how Toyota invests in CSR initiatives, the paper will identify the impact of these initiatives on overall brand loyalty and sales of Toyota. Caplan, Dutta & Lawson (2016) further claim that Toyota is downstream manufacturer of automobiles that pays emphasis on CSR initiatives. However the study will evaluate the impact on CSR activities on the overall brand value. Allen and Peloza (2015) on the other hand suggest that CSR and privacy concerns overlap, and in today’s world privacy is essential hence firm needs to focus on the privacy concern as well. Hence privacy concerns will also be evaluated.
Research aim and objectives
The study aims to evaluate the corporate social responsibility activities of Toyota motors. The focus will be on social initiatives of the firm, and how these activities impact the brand loyalty of the firm. Following are the detailed research objectives of the study:
- What are the CSR activities of Toyota?
- How often CSR initiatives are adopted by Toyota?
- What impact these CSR activities have on the brand loyalty of Toyota?
- What impact these CSR activities have on the sales of Toyota?
For the purpose of the study a mixed approach will be adopted, the focus will be on both qualitative and quantities techniques. The study will be exploratory as it will help in explanation of the CSR activities of Toyota and its impact on overall sales. Secondary data will be collected from journals and internet Primary data will be gathered through surveys and interviews. Brand loyalty will be measured through “net promoter score” of Toyota i.e. respondents will be asked how likely they to recommend brand to their friends and family are (Rocks, 2016).
After data collection statistical software will be used to analyze the current data and to see the impact of these CSR initiatives on the overall brand loyalty of Toyota.
Allen, A. M., & Peloza, J. (2015). Someone to watch over me: The integration of privacy and corporate social responsibility. Business Horizons, 58(6), 635-642.
Bassell, M., Fischer, D., & Friedman, H. H. (2015). The Importance of Business Ethics and Corporate Social Responsibility
Caplan, D., Dutta, S. K., & Lawson, R. A. (2016). Corporate Social Responsibility Initiatives Across the Value Chain. Journal of Corporate Accounting & Finance, 27(4), 57-66.
Carroll, A. B. (2015). Corporate social responsibility. Organizational Dynamics, 44(2), 87-96.
Marques, J. C., & Mintzberg, H. (2015). Why Corporate Social Responsibility Isn’t a Piece of Cake. MIT Sloan Management Review, 56(4), 8.
Minor, D., & Morgan, J. (2011). CSR as reputation insurance: Primum non nocere. California Management Review, 53(3), 40-59.
Rocks, B. (2016). Interval Estimation for the ‘Net Promoter Score’. The American Statistician, (just-accepted), 1-24.