Pre- and post-pandemic corporate social responsibility (CSR) and organisational risk management practices

Abstract

Corporate Social Responsibility (CSR), which has been around for a while in the business world, is frequently seen as a group of efforts meant to improve an organization's reputation by enhancing its public relations techniques. Businesses can gain from globalisation, but it also introduces new risks and sources of instability. There is increased uncertainty in corporate decision-making as firms become more reliant and exposed. Inexperienced players have emerged because of this interconnection, necessitating innovative risk management techniques. This study examines the association between CSR and organisational risk management practises in Malaysia's publicly traded corporations before and after the epidemic. The 91 Malaysian listed PLCs' annual and sustainability reports from 2004 to 2021 were the subject of an exploratory content analysis for this study. From a macro perspective, this study's findings suggest that the COVID-19 pandemic has increased Malaysian companies' concern about actively engaging in CSR and organisational risk management practises. This paper demonstrates CSR practises and organisational risk management practises in Malaysia to show an increasing trend in comparisons between pre- and post-pandemic situations, which may suggest manifesting towards better CSR performance to lever any foreseen or unforeseen organisational risk signals.