Abstract:
In today's volatile business environment, Corporate Social Responsibility (CSR) and
corporate image play pivotal roles in shaping consumer perceptions, especiallyduring
crises. This research investigates the role of CSR and corporate image in crisis
situations, with a particular focus on the mediating role of customer trust in the
Colombo District. The study aims to provide a comprehensive understanding of how
CSR initiatives and a positive corporate image influence customer trust during times
of crisis, and how this trust, in turn, impacts customer loyalty and business
sustainability. The methodology adopted for this study includes a mixed-method
approach, combining both qualitative and quantitative research techniques. A survey
was administered to a sample of 300 customers in the Colombo District to gather
quantitative data, while in-depth six Bank Leaders gotto gain qualitative insights.
The results indicate that CSR activities significantly enhance corporate image, which
positively influences customer trust. During crises, companies with strong CSR
reputations and positive corporate images are better able to maintain customer trust.
Furthermore, customer trust was found to be a crucial mediator in the relationship
between CSR/corporate image and customer loyalty. The study concludes that strategic
CSR initiatives and maintaining a strong corporate image are essential for fostering
customer trust and loyalty, particularly during times of crisis.
Based on these findings, several recommendations are made for businesses in the
Colombo District. Companies should invest in robust CSR programs that align with
their core values and communicate these initiatives effectively to the public.
Additionally, businesses should focus on building and maintaining a positive corporate
image through consistent and transparent communication. By doing so, they can
enhance customer trust and ensure long-term loyalty, even in challenging times.
