“ What is Corporate Social Responsibility? Discuss how it has been done in organisations.? ”
Corporate Social Responsibility is a common term in the business world, it is a broad concept that can take different form depends on the company. CSR undertaking business in an ethical way in order to achieve sustainable development, not only in economic terms, but also in the social and environmental sphere, it has become increasingly important in today’s business world. However, much debate remains concerning the role of CSR and companies’ CSR policies in society. In this essay, I will write about what is CSR, how does in today’s world, the importance of CSR in companies and how CSR is use in organizations, I will add in examples in my essay.
What is CSR?
CSR is the ongoing commitment of business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families, as well as the local community and society at large. It also means that a company takes steps to ensure there are positive social and environmental effects associated with the way the business operates. Companies engaged in active CSR efforts are taking stock of how they operate in the world to incorporate cultural and social issues in order to benefit both in the process. Not only can CSR models increase business and revenue, they also promote worldwide change and progress, often involving helping people with few or no resources. Business that ignores CSR puts its bottom line and its brand at risk. Having a bad reputation socially and environmentally can have serious negative effects on a company's overall profitability and success, as consumers now want to spend their money on products and services they believe in and engage with businesses that follow ethical practices that meet their own beliefs.
In today’s world where business have become global but governments and society have remained local, companies have to bear the social responsibility for their actions. CSR has become the main focus of interest not only by the organizations managers but also for the practitioners of development, both within the bilateral and multilateral agents and developments NGOs (Non Governmental Organization). Official development agencies particularly have a positive view for CSR impacts. Today, most of the organizations realize the positive outcomes of practicing CSR.
The core concept of CSR is to focus that how organizations can be beneficial for the society CSR is helpful for the provision of solutions for the social problems, maintenance of
sustainable environment and building healthier economies. However, CSR is being
proved beneficial for companies, as well. The most important corporate benefits
include improvement and maintenance of brand image or reputation, employee
retention and recruitment as well as customer loyalty.
Importance of CSR
Over the past several years, CSR has become more and more important to...