Effect of corporate social responsibility on consumer retention for FMCG industries: a deep learning analysis of professional students of Odisha

Abstract

Corporate social responsibility (CSR) represents a form of international private business self-regulation that contributes to the social aims of a charitable, activist, or philanthropic nature through helping ethically based practices. The benefits from CSR like generating better public image, enhance in community support, enhance in market share, enhance in the satisfaction of the consumer, enhance in the exports, offering better quality services and products, and enhance in the productivity is not considered as the perception level consumers. This paper analyzes the effect of CSR activities on the fast moving consumer goods (FMCG) industries on the basis of the retention of the consumers of FMCG products. Initially, a questionnaire is prepared that consists of five categories. Each category is composed of more than ten questions. The information related to the questionnaire is obtained in the view of the professional students from Odisha. The customers are requested to fill the exact information as much as possible. Next, a higher-order statistical analysis is considered for realizing the behaviour of the categories. Additionally, the usage of deep learning called Optimized RNN (O-RNN) is used for predicting the customer retention in maintaining the CSR on FMCG industries. The improvement in the traditional RNN is done by optimizing the hidden neurons by the improved form of Sea Lion Optimization Algorithm (slno) called Modified slno (M-slno) with the intention of minimizing the error among the actual and the predicted outcome, hence it is called as O-RNN. The retention of the customers regarding the effect of CSR activities on FMCG companies and the benefits from CSR is investigated using the O-RNN prediction analysis against several traditional deep learning models as well as different statistical measures.

A Perceptual Approach to the Impact of CSR on Organizational Financial Performance

“…Regarding the direct and significant influence of social responsibility on organizational financial performance, the research of Hypothesis H1 demonstrated through the obtained results that in the perception of employees, social responsibility has a medium effect on perceived performance (c = 0.292, p < 0.001) and expected performance (c = 0.286, p < 0.001). This fact leads us to join other researchers regarding employee involvement in CSR actions, which can increase productivity and satisfaction and implicitly increase financial results [5,106].…”

Identifying the dimensions of philanthropic CSR in the FMCG sector: agenda for the sustainability of business

“…The scale development will support the conceptualization of a phenomenon that has garnered immense traction from academia, business and customer fraternity in recent years. Several studies have highlighted the positive impact of philanthropic practices of organizations on the purchase behaviour of customers in the FMCG sector (Das, 2022; Lev et al , 2010; Chen et al , 2022); hence, such a scale on PCSR based on customer perception will enable FMCG as well as other organizations to assess their philanthropic activities more efficiently and drive sustainable business practices.…”

“…It encouraged businesses to use CSR initiatives as a sustainability component in their business operations and preference is given to FMCG brands (Ramu and Vethirajan, 2019). Studies on FMCG companies and CSR activities showed the positive impact of such activities on consumer perception, consumer behaviour and brand (Rahim et al , 2011; Das, 2022; Shinde, 2014). FMCG sector companies in India are growth-promising firms making conscious efforts to optimize their CSR investment for brand strategies and image (Prabhakaran, 2023).…”