Theory into Practice Assignment Example | Topics and Well Written Essays - 7000 words

Theory into Practice - Assignment Example ical Limited are considered; one of which have adopted successful CSR strategies while the other could not succeed in devising relevant CSR strategies in Indian pharmaceutical industry. With the beginning of internalization and globalization, the operation in modern day business has transformed to a great extent (Asongu, 2008). The phenomenon has brought in excessive competition and complexity in the business environment; this has challenged the managers and board of directors of well-known companies to measure its overall performance in the competitive industry. Because of globalization and internationalization, the managers and boards has to track the changes that have taken place in the external environment. In order to develop a un-interruptive business environment for the companies, the managers have undertaken several Corporate Social Responsibility (CSR) activities (Boeger, 2010; Birch and Moon, 2008). These activities have helped them to deal with the complexities that dominate the external business environment and also balance the interest of the stakeholder so as to maintain the equity investments (Birch and Moon, 2008). Over the past few decades, CSR activities have occupied a significant place in every industry across the world. The CSR activities have the capability to enhance value of the firm (Servaes and Tamoya, 2013). The project takes into account pharmaceutical industry, which is a well regulated industry. The company that is considered for case study is GlaxoSmithKline Plc. The CSR activities undertaken by GSK are discussed in the project and it is also compared with its competitors. The main motivation behind choosing the topic is to acquire in-depth knowledge regarding the companies who undertake CSR activities and explore the concept more precisely so as to examine the challenges that are related to CSR. The global pharmaceutical industry is threatened by the rule and regulations as a result it is very interesting to know how the