Brain Injury Australia Introduction The research conducted by the Australian Institute of health and welfare study (1999) estimated that 1.9% (338,700 people) of the Australians total population suffer from acquired brain injury. Out of these, 160,200 needed daily support due to severe effects. Currently, 700,000 people in Australia have brain injury. Brain injury hinders someone from indulging in daily activities and improving their living standards. It prompts cognitive disability, behavioral changes, fatigue, etc. from infants to adults. With the substantial number of people subjected to the condition, Brain Injury Australia (BIA) was formed in 1986 to minimize the disorder. BIA advocates for economic and social participation for people living with brain injuries. The organization seeks to create awareness on the disease and provide support through programs such as National disability insurance scheme (NDIS). The NDIS program facilitates funding activities to support the affected individuals in achieving their goals in life. Since it is a social reform program, it endeavors to create employment and business opportunities to improve the financial status of the brain injury people. Similarly, it fosters education opportunities, provide health coverage, and oversees the general well-being of the disabled. BIA needs enough funds from willing donors and investors to maintain its activities. Hence, expanding its funding and partnership support network is a prerequisite to generate more income. However, the company must integrate a program that oversees the societal welfare in line with the economic upsurge to attract investors and willing contributors. Thus, one aspect to consider is the corporate social responsibility (CSR) program that promotes both social and business value. Social value is achieved when the organization uses its resources, Processes, and policies to improve the lives of individuals in the society (Antonaras, 2019). The CSR program understands community issues and determines effective investment strategies, which will play a vital role in the organization. Since the company’s potential customers are brain injury individuals and their families, through CSR, the market opportunity will expand as more donors will chip in to support the program. Most of the people and investors tend to promote businesses whose objectives are aligned with the societal and environmental welfare. Therefore, by incorporating CSR strategies, sources of funds will increase by attracting potential investors due to its excellent reputation, enhancing both social welfare and economic success. Research objectives • To identify key CSR strategies BIA would use to increase its donor base • To examine critical insights and motivators that would attract business to partner with BIA • To determine the benefits, a company will obtain by partnering with CSR strategies. Problem Statement Brain injury Australia, in line with the NDIS program, seeks to support brain injury individuals by providing health coverage, facilitating education, and creating employment opportunities among others to encourage positivity and enhance their well-being. Enough funds and opportunities that will increase their revenue is a primary aspect that will facilitate a smooth flow of activities. The program calls for much cash since an overwhelming number of individuals are faced with the condition and need support. However, due to limited sources of funds and partnerships, the program cannot reach out too many individuals. The organization needs to increase its revenue and have a broader network of support to enhance the growth and development of its program. Hence, this study examines the effectiveness of incorporating CSR strategy to increase its donors. By reviewing the benefits and critical factors of CSR with different studies, it is patent that the program facilitates both corporate and social values, which are essential in a business. Literature Review Different studies define corporate social responsibility in a multidimensional approach. According to SU and JIE (2015), corporate social responsibility is defined under the stakeholders and social perspective. Rostami and Khoury implies that CSR is the relationship between the company and its stakeholders. They presume that the program entails community service, the creation of jobs, and an enhanced relationship with employees and financial returns, among others. Much as there are varying definitions, the concept of CSR focuses on social value and economic gains. The empirical studies conducted by Sen and Bhattacharya to assess the role of CSR on the buying behaviors of consumers was based on social cause, diversity, community involvement, and environmental protection. While several studies have been examined to understand consumers’ response based on CSR, it is patent that customers’ response is determined by how an organization conducts its social activities. Hence, the relationship between a company’s revenue and its social influence is linear. To gain more insight into CSR activities, Crowther, and Aras in their book “corporate social responsibility,” highlighted the principles of CSR, which are sustainability, accountability, and transparency (Crowther & Aras, 2008). According to them, organizations use CSR concept in terms of integrating social and environmental concerns with stakeholders on a charitable basis. Hence, through sustainability, utilization of resources is evaluated to determine if they are finite in quantity. In doing so, an organization measures the cost and value in the present and future, analyzing alternatives to meet the growing needs. Also, accountability enables the company to realize its impacts in a broader society and necessitate appropriate measures to enhance decision making. Through transparency, an organization ought to be apparent on the actions of the firm in the internal and external environment. The Harvard business review report indicated that out of 250 multinational corporations, 64% published the CSR report in 2005 (Porter & Kramer, 2006). According to the authors, justification of CSR is grounded on four arguments, including moral obligation, sustainability, operating license, and reputation. Firstly, moral responsibility, which implies that organizations need to be kind to the citizens by doing the right things. By upholding the ethical value of the society, they tend to attract more investors in their business. The second aspect is sustainability, which is centered on community stewardship. The company needs to meet the present needs of the community without compromising future generation’s capability to meet their wants. Thirdly, license to operate stems from government, community, and stakeholders’ permission to conduct a business. Lastly, the notion of reputation is based on enhancing the company’s image, building its brand, and addition of value to its activities. However, it was presumed that the justifications lack solid reasons to aid organizations embrace the CSR strategies. On the other hand, in the Harvard business article, the authors discuss why every company needs to embrace the CSR strategy and ways of building it. The authors ascertain that CSR is built on the concept of “shared value” (Rangan et al., 2012). The model suggests that much as the business creates value to its shareholders, it should do the same to the society establishing a win-win strategy. While critics emphasize that the fundamentals of CSR on enhancing society’s welfare are based on campaigns to boost its business, with the shared value idea, the program solidifies its objectives. Another study on CSR from a social risk viewpoint indicates that social risks resulting from social sustainability and environment should be utilized as opportunities to discover the unsatisfactory needs in the society (Bosch-Badia et al., 2014). In doing so, an organization takes advantage and come up with projects to meet the needs creating a synergy between shareholders and the community, which triggers shared value. Apart from that, Robert Reich, in his article “the paradox of supercapitalism,” believes that social equality and capital go hand in hand. He suggests that shareholders play a crucial role in corporations, which enhances the growth of a nation. An organization is likely to gain more resources when it advocates for social equality. Many studies have different opinions on CSR, its roles, and impacts on generating income. Theoretical Framework Stakeholder’s Theory The theory implies that organization needs to maximize the value of its stakeholders by linking the business to the community, consumers, and suppliers, among others (Bhasin, 2018). Hence, the organization is tied to social responsibility enabling the creation of wealth on a large scale. Equality is achieved in terms of fairness and benefits from wealth. It is significant for the company to meet the shareholder’s needs, which are attributed to society’s welfare. In line with stakeholder’s salience concept, it is unethical to overlook the shareholders’ interests. The theory implies that the corporation should not be treated as a separate entity but viewed as a human body. More so, since government policies impact businesses, their decisions influence how citizens should be addressed. The theory affirms Robert Reich’s ideas on social equality and the impacts of shareholders on the growth of a state. Since businesses rely on stakeholders, they can promote their growth if their needs are met. Consequently, the theory confirms with the findings by SU and JIE on perspectives of CSR, which are stakeholders and social responsibility. However, the approach has been criticized since it concentrates on who shares the business rather than enhancing its success. Equally, since there are lots of shareholders in a company, the theory fails to balance interested parties who contribute significantly to the success of the business. The Business Ethics Theory Of CSR According to the theory, business ethics is based on the moral duties and social obligations an organization has towards the community (Bigg, 2004). The theory rationalizes CSR strategies under three grounds. Firstly, the changing social expectations and how they respond to specific problems in the society. Then, values associated with fairness and social justice are enhanced by CSR. Lastly, CSR enhances corporate citizenship, which contributes to establishing social welfare. The business ethics theory regards CSR to be more of philanthropic responsibility than economic functions. The method coherently integrates with the Harvard business review, whereby the authors justified CSR in line with moral obligations and reputation. The company enhances its image as it values the norms of the society. However, the theory is limited since there are insufficient prominent business ethicists to support the findings. Also, justice issues have not been appropriately defended, which forms gaps in its analysis. The Shareholder Value Theory of CSR The theory was imposed by Friedman in 1970, who argued that the business has a social responsibility of gaining profits by following legitimate customs. The central focus is enhancing the value of shareholders who happens to be “residual claimants” when the company becomes bankrupt. While it is significant for a business to maximize the shareholders’ value, it should consider fulfilling social obligations to gain a competitive advantage. However, critics believe that branding shareholders residual claimants is a misleading idea, especially when an organization does not go into bankruptcy. More so, it is not rational to consider them risk bearers alone, ignoring other parties. Methodology There are not enough funds to fund the Brain Injury Australia, and therefore, there is a need to improve the number of donors. This is a result of poor Corporate Social Responsibility strategies to bring in more donors to fund the program as it is a non-profitable one which depends on well-wishers. Corporate Social Responsibility strategies are costly and limit the organization from initiating and running as it will eat into their pockets and bearing in mind, they have got insufficiency in finances. As a result, there is a need to come up with Corporate Social Responsibility strategies to entice new donors into the program and increase the donor base. This is to aid in the realization of the organization’s objectives, therefore assisting people with brain injury in Australia. Therefore, BIA should improve its strategies on how it will attract more donors and help it attain its overall goal and stay afloat for it to continue being in existence and serve the people of Australia. Inadequate funds lead to reduced financial resources that may be invested in the program to broaden the program’s spectrum in terms of helping the affected parties in Australia. Reaching out to more people with brain injury would be a problem as the financial constraints will limit the program to reaching out to only a manageable group of individuals. As a result, only a few individuals will benefit from the program despite being put up to reach out to all parts of Australia. There is a gap between the programs currently reach out threshold to the one projected by the program in its goals and vision. It is established to reach out to the majority as compared to the minority it is reaching out to. As a result, there is a need to come up with critical Corporate Social responsibility strategies to bridge this gap and come up with objectives that ought to be met. These objectives include: – I. Increase the donor base- This is the main objective for the organization to meet its overall goal and stay afloat. It ought to have finances to meet these goals. Since it is a non-profitable organization, it depends on donors. Increasing its donor base will increase its finances hence ease the burden of finances to the organization. II. Incorporate more people in the attainment of the organization’s objective- Since Brain Injury Australia is a non-profit organization that is geared towards giving back to the community, bringing on board many organizations to spearhead its objectives is essential in increasing its spectrum of reaching out to more people. III. Maintain a mutually trusted relationship between the organization and the society- Besides, for the organization to maintain its trust by the society despite it being a non-profit making organization. By engaging key Corporate Social Responsibility strategies, the society can maintain its trust on the organization as it sees that the organization is not only after its social benefit but also incorporation with other firms in helping the people with brain injury in Australia. Following these objectives, the organization is well able to solve the problem of insufficiency in funds to the company as it will have attracted donors to fund its programs and hence remain afloat as well as reach out to more people with brain injury. As a result, there is a need to identify the importance of utilizing Corporate Social Responsibility in the BIA to grow donor base. This will then, in turn, lead to the brain-injured people in Australia benefiting as there will be available funds to finance the programs that will benefit them. This shows how these variables depend on each other since, for the success of one, there ought to be the success of the other, and hence, the benefit goes to the brain-injured individuals in the society. Corporate Social Responsibility is a critical aspect in determining an organization’s exposure to non-financial risks, which is very important to donors who are bringing in their resources and fund the organization. BIA being a non-profit organization, should not overstretch itself in its quest to reach most of the people in the society as it will also expose itself to many non-financial risks and which may shy away donors from funding it. This is because donors will not donate their resources to an organization that exposes it to risk that will end up succumbing to their contribution through resources. BIA may attract donors by maintain its brand. By staying relevant in its operation and reaching out to everyone in the society, BIA can attract more donors to partner with them. By reaching out to the brain-injured people in the society, BIA has already proved to be a socially oriented organization aimed at improving and making the lives of the brain disabled people in the society and by reaching out to more people in the society it maintains its status in the society and hence attract more donors. As a result of these critical Corporate Social Benefits, organizations that partner with BIA will be able to take up more active roles in shaping the community for their betterment. In addition, it will widen the philanthropic network of these organizations. As a result of these charity activities, the partner organization will build their brands in the global market as people will see their doing good to support the disabled people in the society and opt for their brands as they are seen a global ambassadors of hope to the people with neural disability. A descriptive research design is evident in the research as the case under study has been well described through collection of data from various sources. I have some insights made from tackle the matter at hand and internalize the extent to which the problem extends and how it can be resolved for the betterment of the parties involved. Experimental research is also evident as there is the establishment of a cause and, when resolved, may the situations at hand since the situations are dependent on each other. Data is also collected through the exploratory research method in which it is being collected in an unstructured process from the secondary sources. The data is generally from secondary sources. This includes the internet, relevant journals, and books which illustrate and state how full utilization of Corporate Social Responsibility would lead to the attraction of donors and investors to an organization. This is because primary sources are costly to reach out and unavailable due to their tight schedules, and this is generally interviewing with business partners to establish the best way to utilize the principal Corporate Social Responsibility. These sources, as well as the research designs, also had their limitations and for the secondary sources, they were unreliable as queries were not well answered to the latter when they arose since not all in that was in the book as well as in the journals well answered all the loopholes that I encountered in my research. Most of the information was outdated in relevance to the current times as new strategies are required to tackle new problems in the corporate world. Limitations on the research designs include that which a researcher may bias in choice of what to record and emphasize as they may only record that which favors them and leave out the unfavorable ones for their research not be criticized. In addition, there is the use of experimental research design in which it is subject to human error as it human-oriented and biased to undependable in situations where independent research is required. Analysis and Interpretation For a long time, companies have focused on maximizing the value of shareholders to achieve profits. However, incorporating CSR increases revenue and oversees the societal welfare. CSR plays a significant role in creating value and utilizing resources as learned from different studies. The key CSR strategies BIA can use to increase its donors include understanding the concept of shared value. While it is essential to maximize shareholders’ value, by using resources to improve the well- being of societies enhances social value. With social value, investors, consumers, and other willing parties recognize and appreciate the organization’s welfare to the community and are eager to promote the program. In doing so, the company will not only increase its revenue but earns a good reputation that will lure more people into finding out what they are doing and help if possible. Apart from that, the company will have to plan on the ethical approaches they will use to gain society’s trust. By practicing social equality, fairness, and honesty in conducting the NDIS program, people will be aware of the moral obligations BIA would have shown to the society and aspire to work with them. In doing so, an extensive support network will be established, attracting donors from all over the world. Furthermore, the key motivators that will attract businesses to partner with BIA include sustainability, accountability, transparency, and good reputation, among others, which forms the standards of CSR strategies. Since CSR endeavors to create both economic value and social value, organizations are willing to embrace the program. Similarly, by realizing opportunities from social risks and projecting on how to meet the demands of the society, the program offers a new way to stay competitive in the market. The organizations learn on consumers’ patterns and identify how best to satisfy them. Through the sustainability model, an organization can effectively project on the future cash flows of a project, plan accordingly, and set alternatives to curb the risks and uncertainties in the future. In doing so, wastage of resources will be minimized, enhancing the growth and development of a business. Incorporating CSR strategy in the market positively impacts the society, investors, and general thriving of the company. Due to its multidimensional approach, BIA would increase its revenue since the program not only creates awareness, but it strives to create value for both the society and company, which is challenging for most organizations. To gain more insight into the program, we need to understand that shareholders play an essential role in enhancing the growth of a business. Equally, they consider the welfare of the society at large, which plays an integral part in stimulating more cash for a company. By similarly creating wealth, the CSR accomplishes its mission of attracting more partners who, in turn, contribute to enhance the success of a business. Conclusion and Recommendation The potential market opportunity for BIA are people living with brain injury and their families. Everybody is a target since no one knows when the condition will strike as it results from accidents, drug abuse, etc. which is vulnerable to most of the people. Most of the institutes, such as schools, hospitals, sports, and the general public, need to understand the causes of brain injury and preventive measures. Thus, the BIA program seeks to enlighten the world on the condition and how to offer practical support. Through the NDIS program, the affected individuals tend to lead a healthy life, have employment, and continue with their education, which boosts their self- esteem. CSR plays a vital role in achieving both economic and social value. Through the program, organizations can plan on meeting the needs of the society, build trust with their stakeholders, and increase their income by allying with a large group. From the mentioned studies, theories, and concepts that reinforce the validity of the CSR program, it is worth following by organizations. BIA needs to understand the diverse needs of its target group, identify gaps, and strategize on how to curb the situation. By balancing on the available resources and the number of individuals to help, the organization will save on wastages and focus on severely affected individuals. More so, the organization should communicate with family members, schools, hospitals, etc. to enhance awareness of the program and help other countries have an idea on how to help such individuals in their society. In doing so, the company would not only have saved the Australians but the whole world. Also, more research will be conducted to come up with better ways of dealing with the problem, raising awareness, and generating more cash to curb such issues in the future.
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