The Role of Corporate Volunteerism in a Wider Socioeconomic Context: A Review of Literature

CITATION

Arulrajah, A. (2016). The Role of Corporate Volunteerism in a Wider Socioeconomic Context: A Review of Literature. IUP Journal of Management Research, 15(3), 7–19.

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ABSTRACT
The objective of this review is to explore the role of Corporate Volunteerism (CORPVOL) in a wider socioeconomic context. A systematic review of literature was conducted by using an archival method, using existing literature on CORPVOL. The findings of the review reveal that there are seven different roles of CORPVOL from the perspectives of corporations and beneficiaries. They are CORPVOL as a mechanism for economic development, social development, leadership development, empowerment of people, satisfaction and happiness of people, environmental protection and development of job-related skills. By recognizing and appreciating these roles, studies on CORPVOL are poised to improve our understanding of effective corporate volunteering initiatives, and thereby promote advancement towards sustainable development. These findings increase the value and significance of CORPVOL in the modern corporate context. Finally, the contribution of this paper lies in extending the scope and depth of CORPVOL in materializing economic, social and environmental performance of individuals, societies, organizations and nations.


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