COLLEGE:CLARA’S COLLEGE OF COMMERCE
Write an essay on Corporate Social Responsibility with suitable example to support your literature.
CORPORATE SOCIAL RESPONSIBILITY
Being social is a noble idea that works beyond the objective of maximum growth & possibility. The business organization must use their infrastructure & resources to protect & promote public interest & social values. Social obligation is a commitment on the part of businessman to produce & supply only those goods which are demanded by the society & refrain from activities that will go against the interest of the society. Corporate social responsibility (CSR), also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business (SRB), or corporate social performance, which means to operating a business that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. Corporate Social Responsibility is one such niche area of Corporate Behavior and Governance that needs to get aggressively addressed and implemented tactfully in the organizations. At the same time CSR is one such effective tool that synergizes the efforts of Corporate and the social sector agencies towards sustainable growth and development of societal objectives at large. The term "CSR" came in to common use in the early 1970s, after many multinational corporations formed. The civil rights movement, consumerism, and environmentalism affected society's expectations of business. Based on the general idea that those with great power have great responsibility, many called for the business world to be more proactive in (1) ceasing to cause societal problems and (2) starting to participate in solving societal problems. Many legal mandates were placed on business related to equal employment opportunity, product safety, worker safety, and the environment. Furthermore, society began to expect business to voluntarily participate in solving societal problems whether they had caused the problems or not. This was based on the view that corporations should go beyond their economic and legal responsibilities and accept responsibilities related to the betterment of society. This view of corporate social responsibility is the prevailing view in much of the world today. Such obligation is not something which is enforced or thrust upon business organization. Business people should come forward voluntarily to discharge their social obligations. An approach for CSR is becoming more widely accepted in community-based development approach. In this approach, corporations work with local communities to better themselves. For example, the Shell Foundation's involvement in the Flower Valley, South Africa. In Flower Valley they set up an Early Learning Centre to help educate the community's children as well as develop new skills for the adults. Marks and Spencer is also active in this community through the building of a trade network with the community - guaranteeing regular fair trade purchases. Often activities companies participate in are establishing education facilities for adults and HIV/AIDS education programmes. The majority of these CSR projects are established in Africa. JIDF For You, is an attempt to promote these activities in India. A more common approach of CSR is philanthropy. This includes monetary donations and aid given to local organizations and impoverished communities in developing countries. Some organizations do not like this approach as it does not help build on the skills of the local people, whereas community-based development generally leads to more sustainable development. Another approach to CSR is to incorporate the CSR strategy directly into the business strategy of an organization. For instance, procurement of Fair Trade tea and...