The relationship among corporate social responsibility, sustainability and organizational performance in pharmaceutical sector: a literature review
International Journal of Pharmaceutical and Healthcare Marketing
ISSN: 1750-6123
Article publication date: 30 August 2021
Issue publication date: 27 October 2021
Abstract
Purpose
This study aims to review the extant literature in pharmaceutical sector on corporate social responsibility (CSR), sustainability and organizational performance to explore if a relationship exists among these three elements.
Design/methodology/approach
A total of 301 research articles were collected from online databases. A new ECG framework representing environment, community and growth was used to classify the collected literature under the three elements: CSR, sustainability and organizational performance.
Findings
Key findings under the identified categories are: A) Environment: Strict legislation and green chemistry have revolutionized the pharmaceutical sector by decreasing manufacturing costs, minimizing the environmental footprint and improving compliance with regulations. B) Community: Community goodwill and organization’s image have gained importance under the influence of external and internal stakeholders. C) Growth: A weak relationship exists between CSR and organizational performance but increases engagement in sustainability practices which has led to increased market performance. Effective integration of social and environmental goals with strategic business processes could result in long-term profits.
Originality/value
This study focuses on the extant literature to identify the significance of CSR and sustainability on the organizational performance of the pharmaceutical sector. The propositions developed in this study will help in identifying the interdependency of the aforementioned three elements opening further possibilities of in-depth sector specific studies.
Keywords
Acknowledgements
The authors thank Dr Aaruni Saxena for his contribution to the research work. He is affiliated to University of Nottingham, UK. He holds his doctorate in clinical pharmacology and was awarded United Nation fellowship for Master of Business Administration in Geneva. His insightful comments, immense knowledge and encouragement has been instrumental in widening the research work from various perspectives. His valuable time spent and collaborative approach on this work is highly appreciated.
Citation
Saxena, K., Balani, S. and Srivastava, P. (2021), "The relationship among corporate social responsibility, sustainability and organizational performance in pharmaceutical sector: a literature review", International Journal of Pharmaceutical and Healthcare Marketing, Vol. 15 No. 4, pp. 572-597. https://doi.org/10.1108/IJPHM-12-2020-0104
Publisher
:Emerald Publishing Limited
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