For which inextricably links stakeholder theory (Maloni

For
decades, CSR (Corporate Social Responsibility)
standards formulations in businesses are amongst pathways for environmental
sustainability. Globally, businesses draw plans to incorporate environmental activities
to prevent the future negative externalities (Madsen & Ulhoi, 2001).

CSR
implementations as a widespread concept in businesses lead to a linkage between
brand companies and agents of development (Lund-Thomsen, 2013). By this view,
companies implement standards and have in
mind, supplier control mechanisms to benefit society (Mueller, dos Santos &
Seuring, 2009).

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Ingenbleek,
Binnekamp, & Goddijn 2007 agree that companies provide more benefits for
shareholders. Companies protect employees and communities. The CSR standards formulation
is a hierarchal process with an appropriate code of conduct and requires members to seek voluntary approval from authorization
agents.

Knowingly,
the fundamental of CSR standards in business starts
with questioning. This probing brings contention that concern stakeholders in
an organization. Ethical decisions and CSR from
philosophical context are then designed from these questions (Weiss, 2014). As government
seems lost in its role, companies seemingly push their voluntary CSR plan to
stay. “These companies prevent to be subdued by Government “in which way” and
“how much” CSR activities they should implement” (Dzindo, 2015).

A
company finds it practical to do ahead future CSR concerns and integrate
standards into their day-to-day operations. Incorporating sustainable strategic
financial management promotes business
performances as equity increases and helps to attract staff and guarantee
retention of staff. General elements of CSR responsibility apply across
industries. However, different businesses potentially have relatively
distinctive CSR activities which come with CSR deficiencies. CSR deficiencies
are extremely unfavorable to corporates’ financial performance. Analyzing these
deficiencies for appropriateness requires CRS standards formulation in
organizations which inextricably links stakeholder theory (Maloni and Brown,
2006). However, there is a compelling need for relevant CRS standards
formulation in China (Li and Foo 2016).

 

 

 

This
study, therefore, distinctively examines Alibaba Group’s CSR standards
formulation on environmental protection
in China. Alibaba Group conceptualizes the
internet a playing field for small-scale firms to control innovations and grow domestic
economies effectively. Statistically, in 2014, China witnessed a cross-border
GMV of RMB 4.2 trillion, accounting for 14.9% total foreign trade volume of
China which is higher than Germany’s Gross Domestic Product. Alibaba Group serves
two billion global consumers to buy products online, hence facilitating the
realization of their global strategic vision of “Global Buy, Global Sell”
(Alibaba Group’s CSR report 2014-2015).

Notwithstanding
kinds of knowledge on CSR standard
formulation in businesses, the study uses existing literature to highlight
how China’s CSR standards formulation impact environment protection
and corporate financial performances. To highlight this, we utilize a model to show the relationships between companies
CSR and financial performances and how stakeholders with the “power” and “urgency”
ensure CSR standards implementation on environmental protection.

Assessing
reports on companies CSR, stock exchange, and adopting
institutional-stakeholder typology framework, the study sets out:

To examine how
stakeholders implement CSR standards
on environmental protection of China.To evaluate potential
stakeholders and institutions involved
in CSR standards on environmental protection of China. To assess how
CSR implementation affects businesses financial performances
in China.

The
paper has five further chapters.  Chapter
two is the brief literature review; addresses the various typologies and assess
relevant stakeholders in CRS standards formulation.  Chapter three is a theoretical framework. Chapter
four is an empirical model used. Chapter five and Chapter six are discussions
and conclusions respectively, followed by weakness and recommended future research.

 

 

 

 

 

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