Why Corporate social responsibility (CSR)?
There
is an important message around the world that whatever we do today will have
an impact on future generations. We should not think that all the efforts we
get to protect ourselves will be enough to protect our children in the future. However, we can make the world for them a better place to live only with very mindful
efforts. We always have to address our present needs with the needs of the next
generation. And this is the corporate social responsibility (Damithendra,
n.d.) .
According
to WBCSD (World Business Council for Sustainable Development) “The continuing
commitment by business to behave ethically and contribute to sustainable economic
development while improving the quality of life of the workforce and their
families as well as of the local community and society.”This
understand that corporate social responsibility is an act of presenting the concern
of the organization and the commitment towards the sustainability and the
development of society. Also, it is the ethical behavior of an organization
towards society.
Basic Elements of CSR
There
are different types of social responsibilities.
· Responsibility towards society like prevention of environmental pollution, minimizing ecological imbalance and contributing towards the development of social health, education, etc.
· Responsibility towards Government like obey rules and regulation, regular payment of taxes and cooperating with the Government for economic growth and development etc.
· Responsibility towards shareholders like to work for the survival and the growth of the concern, to build reputation and goodwill of the organization and to remain transparent and accountable etc.
· Responsibility towards employee like to provide a healthy working environment, to grant regular and fair wages and proper recognition of efficiency and hard work etc.
· Responsibility towards consumers like supplying socially harmless products, supplying the quality and standards as promised and provide after-sales services etc.
· Responsibility towards society like prevention of environmental pollution, minimizing ecological imbalance and contributing towards the development of social health, education, etc.
· Responsibility towards Government like obey rules and regulation, regular payment of taxes and cooperating with the Government for economic growth and development etc.
· Responsibility towards shareholders like to work for the survival and the growth of the concern, to build reputation and goodwill of the organization and to remain transparent and accountable etc.
· Responsibility towards employee like to provide a healthy working environment, to grant regular and fair wages and proper recognition of efficiency and hard work etc.
· Responsibility towards consumers like supplying socially harmless products, supplying the quality and standards as promised and provide after-sales services etc.
Why we need social responsibility?
It
helps to reduce the social cost and enhance health by non-polluting
measures. It improves the performance of employees. Also, it is an investment which
leads to industrial peace. further it satisfies the stakeholders while improving the
public image and generate more profits. After all, it also provides moral
justification (Damithendra, n.d.) .
According to Porter and Kramer (2007), corporations are not
responsible for all the world’s problems and they do not have resources to
solve them all. However each organization can identify set of social problems
and help to resolve in the best way and it will give the greatest competitive
benefit.
References
Damithendra, K., n.d. Corporate
Social Responsibility. s.l.:The Institute of Chartered Accountants Sri
lanka.
Porter, M.E., Kramer, M.R., 2007.
Strategy and society: the link between competitive advantage and corporate
social responsibility. Strateg. Dir. 23, sd.2007.05623ead.006.
https://doi.org/10.1108/sd.2007.05623ead.006
Good work Anupama, CSR is used for all stake holders benifits. It will helps to improve the organization as well as tye society. Thanks for sharing
ReplyDeleteAt present most organizations are involved in CSR activities, like you mentioned non-polluting measure, take care of environment, producing harmless products. Organizations can’t provide solutions for all the problems but making CSR projects in their vicinity will make a better world.
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ReplyDeleteCSR is directly involved for sustainable development of society. Most of organisations are currently involved CSR for marketing purposes.
ReplyDeleteHowever if its really benefits gose for sustainability of nation, that's the ethical & social responsibility of an organization.
Thanks for sharing. Well done
Interesting article , nicely explained , thanks for sharing this.
ReplyDelete"corporations are not responsible for all the world’s problems and they do not have resources to solve them all" But all companies now a days stick with some CSR programmes..It is a good trend.
ReplyDeleteInteresting article and nicely explain. thanks share your knowledge in this blog. good luck.
ReplyDeleteCSR is all about making the future safe because that is where the organizations are having the opportunity to grow.
ReplyDeleteCSR helps to improve organizational goodwill as well as to gain stakeholders awareness. An article with a nice flow Anupama
ReplyDeleteCSR is important to show the organizational interest towards the community and it will automatically promote its brand. Good job Anupama.
ReplyDeleteCSR is one of the key factor to sustain of a organization in any form.specially its important when doing business in foreign countries.
ReplyDelete