Dec 14, · MBA Final year Project - Customer satisfaction 1. [1] A STUDY ON CUSTOMER SATISFACTION TOWARDS THE PRODUCTS AND SERVICES OF AXIS BANK CHENNAI Submitted in the partial fulfilment of the requirements For the award of the degree in MASTER OF BUSINESS ADMINISTRATION By VIJENDRA KUMAR Reg. No.: Under the guidance of MRS Aug 08, · Founded in , Physicians Mutual is a Nebraska-based insurance company with vast experience in the industry. The company, which once specialized in servicing healthcare providers, currently offers a broad range of health and life insurance products for businesses and individuals The objective of this work is to review the literature of the main concepts that lead to determining the strategic approach, creation of strategies, organizational structures, strategy formulation, and strategic evaluation as a guide for the organizational management, taking into account the effects produced by the different types of strategies on the performance of organizations
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International Journal of Corporate Social Responsibility volume 4Article number: 1 Cite this article. Metrics details. There is a long and varied history associated with the evolution of the concept of Corporate Social Responsibility CSR. However, a historical review is missing in the academic literature that portrays the evolution of the academic understanding of the concept alongside with the public and international events that influenced the social expectations with regards to corporate behavior.
The aim of this paper is to provide a distinctive historical perspective on the evolution of CSR as a conceptual paradigm by reviewing the most relevant factors that have shaped its understanding and definition, such as academic contributions, international policies and significant social and political events.
To do so, the method used is a comprehensive literature review that explores the most relevant academic contributions and public events that have influenced the evolutionary process of CSR and how they have done so. The findings show that the understanding of corporate responsibility has evolved from being limited to the generation of profit to include a broader set of responsibilities to the latest belief that the review of literature on customer satisfaction in life insurance responsibility of companies should be the generation of shared value.
The findings also indicate that as social review of literature on customer satisfaction in life insurance of review of literature on customer satisfaction in life insurance behavior changed, so did the concept of Corporate Social Responsibility. The findings suggest that CSR continues to be relevant within the academic literature and can be expected to remain part of the business vocabulary at least in the short term and as a result, the authors present a plausible future for CSR that takes into consideration its historical evolution.
Finally, this paper gives way for future academic research to explore how CSR can help address the latest social expectations of generating shared value as a main business objective, which in turn may have practical implications if CSR is implemented with this in mind. The current belief that corporations have a responsibility towards society is not new. In the following decades, the social expectations towards corporate behavior changed and so did the concept of Corporate Social Responsibility CSR.
This will allow to recognize CSR as a concept that reflects the social review of literature on customer satisfaction in life insurance of each decade and be able to explore if it will remain relevant in the near future. This review focuses on the most relevant academic publications and historical events that have influenced the evolution of CSR as a conceptual paradigm. The review begins with the historical roots of social responsibility and then explores the early stages of the formal and academic writing about the social responsibilities of corporations and goes through its evolution to the latest understanding of CSR.
Considering that the history of CSR is long and vast, it is necessary to point out that this article focuses on publications that have provided an original perspective and understanding to the concept of CSR along with the most significant papers with regards to the evolution of the social expectations of corporate behavior see Appendix for additional recommended readings. Along with these papers, the review takes into consideration articles that have been cited the most and can be considered as significant contributors to the evolution of the concept as well as publications that provide new definitions and frameworks.
It is relevant to point out that this paper will focus on the development of CSR as a definitional construct and will not explore in detail alternative concepts that emerged in the late twentieth century. This article reviews the key historical events that played a role in the evolution of CSR.
In particular, the paper focuses on events that influenced to a certain extent corporations to assume broader social responsibilities Accordingly, this article focuses on the relevant inputs to the definitional construct of the concept, most of which are of Anglo-American character, but it also considers that the growing attention on CSR has been influenced by specific calls for better business practices, such as the European CSR Strategy. As such, this paper does not portray the entire literature on the subject but highlights the key factors that shaped the evolution of CSR.
Accordingly, the authors provide a summary of the evolution of the concept through a chronological timeline that allows the reader to follow the history of CSR by pointing out the most relevant academic contributions as well as the most significant events that played a role in shaping it as a conceptual paradigm. The main contribution of this paper is a structured historical review that is accompanied with a chronological timeline of the evolution of CSR.
Accordingly, the article contributes to the literature by exploring how the societal expectations of corporate behavior of each period have influenced the understanding and definitional construct of CSR. Furthermore, this article contributes to the literature on CSR by providing an innovative review of the evolution of the concept that contextualizes its development with a connection to the wider changes happening in each period. This paper also contributes to the current understanding of CSR by including a review of the development of CSR in the early twenty-first century, a period that has not been reviewed as much as earlier periods of the development of the concept.
This means that the literature on the subject is broad and a specific method is needed to achieve a comprehensive review. The motivation for following a SLR is because it is commonly used to summarize the existing literature and identify gaps, to describe the available body of knowledge to guide professional practice, to identify effective research and review of literature on customer satisfaction in life insurance methods, to identify experts within a given field and to identify unpublished sources of information Fink ; Okoli and Schabram The extensive nature of the CSR literature required to limit the scope of the research to thematic areas directly related to the evolution and history of the concept and also limited to publications of academic or institutional character review of literature on customer satisfaction in life insurance that they have already undergone a rigorous peer review that indicates a suitable quality for this SLR.
The searches were made within the search windows of the website of each database in the titles, abstracts and body review of literature on customer satisfaction in life insurance the articles and the results were provided in order of relevance, review of literature on customer satisfaction in life insurance. The first selection was limited to the titles of the publications and was followed by a review of the keywords and abstracts of the preferred articles.
To determine the suitability of some of the articles it was necessary to review their introduction and scope. The next step in the selection of articles was focused on their quality and relevance which was determined by reviewing the level of impact factor of the journal of publication as well as the amount of citations the article has had, looking specifically for a high impact factor for each individual paper. Each article was then reviewed to determine its relevance for the research.
Some articles pointed to additional references outside the initial search scope which were then searched online for their review. This included business magazines, books, and reports from international bodies and non-governmental organizations and associations. These references were reviewed and selected according to their pertinence and contribution for this paper.
Following this systematic strategy allowed to review published journal review of literature on customer satisfaction in life insurance with high impact factors along with publications of relevance mentioned by the authors of such articles. Some publications with regards to CSR had to be excluded from this review because they did not contribute directly to the evolution of the concept but we believe they are of interest in the CSR literature and thus they are listed in Appendix.
Finally, the paper is structured in a way that each section corresponds to a particular period making it easier to follow the evolutionary process of CSR. For Chaffeethe origins of the social component in corporate behavior can be traced back to the ancient Roman Laws and can be seen in entities such as asylums, homes for the poor and old, hospitals and orphanages. This notion of corporations as social enterprises was carried on with the English Law during the Middle Ages in academic, municipal and religious institutions.
Later, it expanded into the sixteenth and seventeenth centuries with the influence of the English Crown, which saw corporations as an instrument for social development Chaffee In the following centuries, with the expansion of the English Empire and the conquering of new lands, the English Crown exported its corporate law to its American colonies where corporations played a social function to a certain extent Footnote 1 Chaffee During the eighteenth and nineteenth centuries, the Christian religious philosophy and approach to the abiding social context were seen as a response to the moral failure of society, which was visible in terms of poverty of the overall population in the English Empire and some parts of Europe Harrison This religious approach gave way to social reforms and to the Victorian philanthropy which perceived a series of social problems revolving around poverty and ignorance as well as child and female labor Carroll ; Harrison Also during this period, there was a growing level of urbanization and industrialization marked review of literature on customer satisfaction in life insurance large-scale production.
This brought new concerns to the labor market such as: new challenges for farmers and smalls corporations to keep up with the new interdependent economy, the creation of unions of workers looking for better working conditions, and a middle class worried for the loss of religious and family values in the new industrial society Heald As a response to these new challenges, and with the aim of finding harmony between the industry and the working force, some business leaders created organizations for the promotion of values and improvement of the working conditions.
Such was the case of the Civic Federation of Chicago, review of literature on customer satisfaction in life insurance, an organization created to promote better working conditions and where religious values merged with economic objectives with a sense of civic pride Heald This led to managers being viewed as trustees for the different set of external relations with the company, which in turn translated into social and economic responsibilities being adopted by corporations Carroll ; Heald Some early examples of the debate of the social responsibilities of corporations can be found in The Functions of the Executive by Barnard and the Social Control of Business by Clark Perhaps the most notable example of the changing attitude towards corporate behavior came from Bowenwho believed that the large corporations of the time concentrated great power and that their actions had a tangible impact on society, and as such, review of literature on customer satisfaction in life insurance, there was a need for changing their decision making to include considerations of their impact.
As a result of his belief, Bowen set forth the idea of defining a specific set of principles for corporations to fulfill their social responsibilities, review of literature on customer satisfaction in life insurance. As Carroll explains, it seems that Bowen was ahead of his time for his new approach to management which aimed at improving the business response to its social impact and by his contributions to the definition of corporate social responsibility.
After Bowen, other authors were concerned with corporate behavior and its response to the social context of the time. For example, in the book Corporation Giving in a Free Society published inEells argued that the large corporations of the time were not living up to their responsibility in a time of generalized inflation. In a similar way, with the book A moral philosophy for management published inSelekman explored the evolution of the moral responsibility of corporations as a response to the labor expectations of the time.
These early explorations of CSR as a definitional construct, along with the social context of the time, gave way to a growing interest of scholars to define what CSR was and what it meant Carroll However, it is necessary to point out that the effect of this growing interest was perhaps more visible in the USA, which is why some examples of the following sections might seem to center on this particular country.
At the same time, books such as The Silent Spring by Carson and The Population Bomb by Ehrlich begun raising questions with regards to the limits of economic growth and the impact that society and corporations were having on the environment. banks and financial institutions as well large scale corporations but had a strong focus on those with direct links to war. An example is the case of the Dow Chemical Company which produced napalm used in the Vietnam War and as a result faced constant protests and accusations Waterhouse A notable example of this period was Keith Davisreview of literature on customer satisfaction in life insurance, who explained that the important social, economic and political changes taking place represented a pressure for businessmen to re-examine their role in society and their social responsibility.
Davis argued that businessmen have a relevant obligation towards society in terms of economic and human values, and asserted that, to a certain extent, social responsibility could be linked to economic returns for the firm Carroll ; Davis Other influential contributors of the time were FrederickMcGuire and Walton Frederick saw the first half of the twentieth century as an intellectual and institutional transformation that changed the economic and social thinking and brought with it an increased economic power to large scale corporations.
To balance the growing power of businessmen, Frederick proposed a new theory of business responsibility based on five requirements: 1 to have a criteria of value in this case for economic production and distribution2 to be based on the latest concepts of management and administration, review of literature on customer satisfaction in life insurance, 3 to acknowledge the historical and cultural traditions behind the current social context, 4 to recognize that the behavior of an individual businessmen is a function of its role within society and its social context, and, 5 to recognize that responsible business behavior does not happen automatically but on the contrary, it is the result of deliberate and conscious efforts; then McGuirewho reviewed the development of business institutions and observed changes in the scale and type of corporations, changes in public policies, and regulatory controls for businesses as well as changes in the social and economic conditions of the time.
Accordingly, he provided a definition of social responsibility with which he acknowledged the relevance of the relationship between corporations and society. It is relevant to point out that even when some scholars begun applying a wider scope to the social responsibilities of corporations, there were others who were skeptical of the notion of CSR. Notably, Milton Friedman, a renowned economist and later a Nobel laurate in economicsgave in a particular perspective of the role of corporations in a free capitalist system in which firms should limit to the pursuit of economic benefits see: Friedman Nonetheless, by the end of the decade the overall social context was reflected in the form of a strong pressure on corporations to behave according to the social expectations of the time, most of which were vividly expressed in protests and environmental and antiwar campaigns Waterhouse In fact, the low level of confidence in the business sector reached a significant point when in a major oil spill in the coast of Santa Barbara, California led to massive protests across the USA and eventually resulted in the creation of the first Earth Day celebrated in During the first Earth Day, 20 million people across the USA joined protests to demand a clean and sustainable environment and to fight against pollution, which was caused mainly by corporations e.
oil spills, toxic dumps, polluting factories and power plants Earth Day The first Earth Day influenced the political agenda of the USA in such a significant manner that it played a role in pushing forward the creation of the Environmental Protection Agency EPA by the end of Earth Day and translated into a new regulatory framework that would later influence corporate behavior and create additional responsibilities for corporations. It is equally important to mention that in the year there was a recession in the USA that was marked by a high inflation and very low growth followed by a long energy crisis Waterhouse The most notable examples were the creation of the EPA, the Consumer Product Safety Commission CPSCthe Equal Employment Opportunity Commission EEOC and the Occupational Safety and Health Administration OSHAall of which addressed and formalized to some extent, the responsibilities of businesses with regards to the social concerns of the time Carroll As Carroll and Lee point out, these publications reflect a new rationale with regards to the roles and responsibilities of corporations.
Business enterprises, in effect, are being asked to contribute more to the quality of American life than just supplying quantities of goods and services. The Club of Rome, formed in by a group of researchers that included scientists, economists and business leaders from 25 different countries, published in the report The Limits to Growth World Watch Institute n.
The report became of relevance for the international community because it brought the attention towards the impact of population growth, resource depletion and pollution, and pointed out the need of responsible business practices and new regulatory frameworks. This meant that the term Corporate Social Responsibility became increasingly popular which resulted in its use under many different contexts and to such an extent that its meaning became unclear, and as a consequence it meant something different for everybody Sethi ; Votaw A different perception came from Sethifor whom social responsibility entails that corporate behavior should be coherent with the social norms, values review of literature on customer satisfaction in life insurance expectations, and as a result it should be prescriptive.
Friedman ; McGuire ; Walton This was reflected in the academic publications which provided companies with an approach that looked into how to comply with the review of literature on customer satisfaction in life insurance responsibilities that have been given to them by the new legislations that now covered environmental aspects review of literature on customer satisfaction in life insurance well as product safety, and labor rights Carroll For Reagan and Thatcher, the growth and strength of the economies of their countries depended on their ability to maintain a free market environment with as little as possible state intervention Pillay With governments reducing their role in regulating corporate behavior, managers were faced with a need to answer to different interest groups that still expected corporations to fulfill the social expectations of the time.
Notably, the reduced regulatory framework led scholars to look into business ethics and the operationalization of CSR as a response to groups such as shareholders, employees and consumers, and the term stakeholder became common Carroll ; Wankel However, scholars also begun looking into alternative or complementary concepts to CSR, some of which include corporate social performance, corporate social responsiveness, and stakeholder theory and management Carroll For the purpose of this paper we will continue to focus our attention on the development of CSR as a definitional construct.
InThomas M. Jones was arguably the first author to consider CSR as a decision making process that influence corporate behavior. This translated into the creation of new frameworks, review of literature on customer satisfaction in life insurance, models, and methods aimed at evaluating CSR from an operational perspective.
Notably, these concerns can be observed in a series of events that reflected the approach of the international community towards sustainable development and to a certain extent, to corporate behavior.
Even when these events did not relate directly to CSR, and hence did not influence directly the evolution of the concept, they reflected a growing sense of awareness of the international community with regards to environmental protection and sustainable development, and indirectly to corporate behavior.
The most relevant include: the creation of the European Environment Agencythe UN summit on the Environment and Development held in Rio de Janeiro which led to the Rio Declaration on Environment and Development, the adoption of Agenda 21 and the United Nations Framework Convention on Climate Change UNFCCCand the adoption of the Kyoto Protocol The creation of these international bodies and the adoption of international agreements represented international efforts for setting higher standards with regards to climate-related issues and, review of literature on customer satisfaction in life insurance, indirectly to corporate behavior see: Union of Concerned Scientists For these global corporations it meant new opportunities that came along with a rising global competition for new markets, an increased reputational risk due to a growth in global visibility, and conflicting pressures, demands, and expectations from the home and the host countries Carroll
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Life (other than GUL), accident, critical illness, hospital indemnity, and disability plans are insured or administered by Life Insurance Company of North America, except in NY, where insured plans are offered by Cigna Life Insurance Company of New York (New York, NY). All insurance policies and group benefit plans contain exclusions and The objective of this work is to review the literature of the main concepts that lead to determining the strategic approach, creation of strategies, organizational structures, strategy formulation, and strategic evaluation as a guide for the organizational management, taking into account the effects produced by the different types of strategies on the performance of organizations Aug 08, · Founded in , Physicians Mutual is a Nebraska-based insurance company with vast experience in the industry. The company, which once specialized in servicing healthcare providers, currently offers a broad range of health and life insurance products for businesses and individuals
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