Corporate social responsibility practices in Türkiye: An analysis of approaches, drivers, barriers and financial performance in the cement sector

Today, good employees and environmentally conscious corporate practices are the keys to a successful business. The construction industry engages in several unethical behaviors that have a detrimental effect on society and the environment. Businesses in the construction sector need to create and carry out business plans that go beyond profitability, consider all stakeholders and are ecologically sustainable. Numerous studies have demonstrated the importance of corporate social responsibility (CSR) as a management concern in the construction sector and the potential benefits of its adoption for the economy, society, and environment. With cement being the most important building material for the development of a nation's infrastructure, and having a growing market demand, this thesis sets out to examine how cement industries perceive and practice CSR. In this regard, the scope of the study is limited to one multinational cement industry: OYAK CIMENTO FABRIKALARI A.S in Turkiye. Through a qualitative and quantitative method, the study equally provides a thorough analysis of CSR practices methodologies, drivers, barriers, and financial performance. The study finds that while some cement companies see (CSR) as a sustainable strategy for competitive advantage, to improve firms' reputations, increase innovation, increase customer loyalty, and ultimately improve financial performance over time, others see CSR as a way of satisfying stakeholders (customers, employees, and shareholders). According to research and in-person interviews, OYAK CIMENTO appears to have the best CSR practices because of its strategic management policy of sustainable development. The study's findings support the idea that institutions that adopt CSR experience positive financial outcomes. By enhancing their brand and competitiveness, CSR consequently indirectly improves OYAK's financial success. The study also demonstrates how CSR may financially benefit some stakeholders at the expense of shareholder wealth, which lowers profitability and stock prices in turn. Key Words: CSR, Approaches, Drivers, Barriers, financial performance, OYAK CIMENTO FABRICA A.S., Sustainability development.