Role of Corporate Social Responsibility in the Financial Sustainability of Sports Organizations

Abstract

Corporate social responsibility (CSR) has gradually more important for sports organizations as they seek to improve their financial sustainability. A growing number of sports organizations are recognizing the strategic value and potential benefits of CSR and are implementing CSR initiatives into their operations. The study explores the impact of CSR on the financial sustainability of sports organizations. Through a complete assessment of the literature and analysis of relevant data, the study examines the impact of various CSR initiatives, such as sponsorship and funding, charities through partnerships, organizational commitment, and stakeholder satisfaction on the financial sustainability of sports organizations. Furthermore, the study analyzes the impact of external factors, such as global economic recession and proper fund utilization on the financial sustainability of sports organizations. The findings reveal that proper implementation of CSR initiatives can positively impact the financial sustainability of sports organizations. CSR partnerships with charitable organizations can provide an effective way for sports organizations to improve their social profile, while also helping to generate revenue and financial stability. The study also highlights the significance of stakeholder satisfaction and organizational commitment towards CSR activities in improving financial sustainability. The outcome of this study underscores the importance of CSR in the financial sustainability of sports organizations and provides insights into how sports organizations can leverage CSR to improve their long-term financial sustainability while also benefiting society at large. The findings show that factors, such as sponsorship and funding, proper fund utilization, global economic recession, charities through CSR partnerships, organizational commitment to CSR activities, and stakeholder satisfaction have a significant impact on the financial improvement of sports organizations. The factor “improving social profile” doesn’t have an impact on the financial improvement of sports organizations.

Keywords

corporate social responsibility financial sustainability sports organization funding SPSS

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