The Influence of Corporate Social Responsibility in Pakistan's Health Insurance Industry in Preserving a Sustainable Competitive Advantage

Authors

  • Muhammad Nawaz Iqbal Department of Business Administration, Sir Syed University of Engineering and Technology - Pakistan
  • Usman Ghani Chishti Department of Business Administration, Sir Syed University of Engineering and Technology - Pakistan

DOI:

https://doi.org/10.48112/tibss.v1i3.628

Abstract

Abstract Views: 77

In Pakistan, health care system is vulnerable and under developing phase. Corporate social responsibility (CSR) activities influence the health insurance sector's competitiveness. This study attempts to investigate the connection between CSR practices and the long-term competitive advantage of Pakistani health insurance carriers. To create a lasting competitive advantage, it aims to pinpoint the precise CSR actions that significantly affect consumer perception, brand reputation, and market placement. The rising significance of CSR in business and its potential effects on the health insurance sector are the driving forces behind this study. Customers are drawn to businesses that show a commitment to ethical business practices as society's consciousness regarding environmental and social concerns rises. To get in-depth understanding of health insurance firms' CSR practices and attitudes, the study uses a qualitative technique. Interviews and focus groups have used to gather data and Thematic analysis has been used as an analysis tool. The themes obtained through thematic analysis are Initiatives to Promote Community Health, Sustainability in corporate sector and social impact, Healthcare accessibility and Affordability, Healthcare Sustainability Promotion, Collaboration and social engagement among corporate stakeholders. CHASS theoretical model has developed based on obtained factors. Future potential for the study includes offering vital information to health insurance firms on the best CSR projects to engage in, strengthening their competitive posture in the market.

Keywords:

Corporate social responsibility, Health insurance, Sustainable competitive advantage

References

Abor, J., & Adjasi, C. K. (2007). Corporate governance and the small and medium enterprises sector: theory and implications. Corporate Governance: The International Journal of Business in Society, 7(2), 111-122. https://doi.org/10.1108/14720700710739769

Ali, S. S., & Kaur, R. (2021). Effectiveness of corporate social responsibility (CSR) in implementation of social sustainability in warehousing of developing countries: A hybrid approach. Journal of Cleaner Production, 324, 129154. https://doi.org/10.1016/j.jclepro.2021.129154

Anastasiadis, S. (2014). Toward a view of citizenship and lobbying: Corporate engagement in the political process. Business & Society, 53(2), 260-299. https://doi.org/10.1177/0007650313483495

Christensen, C. M. (2013). The innovator's dilemma: When new technologies cause great firms to fail. Harvard Business Review Press.

Hang, Y., Sarfraz, M., Khalid, R., Ozturk, I., & Tariq, J. (2022). Does corporate social responsibility and green product innovation boost organizational performance? a moderated mediation model of competitive advantage and green trust. Economic research-Ekonomska istraživanja, 35(1), 5379-5399. https://doi.org/10.1080/1331677X.2022.2026243

Hansen, S. D., Dunford, B. B., Boss, A. D., Boss, R. W., & Angermeier, I. (2011). Corporate social responsibility and the benefits of employee trust: A cross-disciplinary perspective. Journal of Business Ethics, 102, 29-45. https://doi.org/10.1007/s10551-011-0903-0

Jamali, D., & Mirshak, R. (2007). Corporate social responsibility (CSR): Theory and practice in a developing country context. Journal of Business Ethics, 72(2), 243-262. https://doi.org/10.1007/s10551-006-9168-4

Kaplan, S. (2020). Why social responsibility produces more resilient organizations. MIT Sloan Manag. Rev. 62, 85–90.

Kataria, S., Saini, V. K., Sharma, A. K., Yadav, R., & Kohli, H. (2021). An integrative approach to the nexus of brand loyalty and corporate social responsibility. International Review on Public and Nonprofit Marketing, 18(3), 361–385. https://doi.org/10.1007/s12208-021-00277-4

Messervy, M., McHale, C., & Spivey, R. (2014). Insurer climate risk disclosure survey report & scorecard: 2014 findings & recommendations. Boston, MA: Ceres.

Oduro, S., Adhal Nguar, K. D., De Nisco, A., Alharthi, R. H. E., Maccario, G., & Bruno, L. (2022). Corporate social responsibility and SME performance: a meta-analysis. Marketing Intelligence & Planning, 40(2), 184-204. https://doi.org/10.1108/MIP-05-2021-0145

Snider, K. F., Halpern, B. H., Rendon, R. G., & Kidalov, M. V. (2013). Corporate social responsibility and public procurement: How supplying government affects managerial orientations. Journal of Purchasing and Supply Management, 19(2), 63-72. https://doi.org/10.1016/j.pursup.2013.01.001

Wang, J. L., Jeng, V., & Peng, J. L. (2007). The impact of corporate governance structure on the efficiency performance of insurance companies in Taiwan. The Geneva Papers on Risk and Insurance-Issues and Practice, 32, 264-282. https://doi.org/10.1057/palgrave.gpp.2510125

Xuetong, W., Hussain, M., Rasool, S. F., & Mohelska, H. (2023). Impact of corporate social responsibility on sustainable competitive advantages: The mediating role of corporate reputation. Environmental Science and Pollution Research, 1-14. https://doi.org/10.1007/s11356-023-28192-7

Yang, Y., Chen, L., Gu, J., Zhang, H., Yuan, J., Lian, Q., ... & Lu, Z. J. (2017). Recurrently deregulated lncRNAs in hepatocellular carcinoma. Nature Communications, 8(1), 14421. https://doi.org/10.1038/ncomms14421

Zia, M. Q., Naveed, M., Fasih, T., & Meero, A. R. (2022). Fostering individual behavior through quality of life variables: the role of Islamic work ethics. International Journal of Ethics and Systems. https://doi.org/10.1108/IJOES-04-2022-0086

Published

2023-09-30

How to Cite

Iqbal, M. N., & Chishti, U. G. (2023). The Influence of Corporate Social Responsibility in Pakistan’s Health Insurance Industry in Preserving a Sustainable Competitive Advantage. International Journal of Trends and Innovations in Business & Social Sciences, 1(3), 60–67. https://doi.org/10.48112/tibss.v1i3.628

Issue

Section

Articles

Similar Articles

You may also start an advanced similarity search for this article.