CSR FORMAL AND INFORMAL PRACTICES IN SMES AND COVID – 19 CHALLENGES
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Abstract
Corporate social responsibility (CSR) has recently drawn an increased attention since the turn of the millennium and thereby now recognized as a crucial subject matter for business study. Nevertheless, most of the businesses are adopting CSR practices in SMEs to ensure their long term survival but yet little is known as to how SMEs have been coping with prevailing COVID – 19 pandemic and how it has affected the SMEs involvement in CSR practices. It is therefore the current study seeks to understand the CSR practices in SMEs during COVID – 19 pandemic. A qualitative study was conducted to explore the very phenomenon. A total of fifteen (15) semi – structured interviews were conducted from top – notch seven SMEs located in the northwest region of Pakistan. Carroll’s (1979) model and stakeholder lens were utilized as the basis for the current research for analyzing the CSR activities in the SMEs sector. For data analysis, Braun and Clarke (2006) theme analysis was employed. Findings of the study suggest that CSR practices before COVID-19 were not regularly carried out by the SMEs however firms that have legal compulsion practiced it to a limited extend. COVID-19 played a key role in transformation and significant increase of the CSR practices by SMEs. Various CSR practices started by SMEs during pandemic remained continued after it as well. Moreover, 80% firms were found involved in both ethical and philanthropic activities. The implications of the study may benefit both academia as well as practitioners in their policy decision making process pertaining to CSR activities.
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