Corporate Social Responsibility
Q1. Discuss the CSR Practices of any one organization of your choice.
A: The World Business Council for Sustainable Development in its publication "Making Good Business Sense" by Lord Holme and Richard Watts, used the following definition. "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large"
Different organisations have framed different definitions - although there is considerable common ground between them. My own definition is that CSR is about how companies manage the business processes to produce an overall positive impact on society.
Companies need to answer to two aspects of their operations. 1. The quality of their management - both in terms of people and processes (the inner circle). 2. The nature and quantity of their impact on society in the various areas.
Outside stakeholders are taking an increasing interest in the activity of the company. Most look to the outer circle - what the company has actually done, good or bad, in terms of its products and services, in terms of its impact on the environment and on local communities, or in how it treats and develops its workforce. Out of the various stakeholders, it is financial analysts who are predominantly focused - as well as past financial performance - on quality of management as an indicator of likely future performance.
Emirates Airline Foundation
The Emirates Group actively supports numerous causes both in the UAE and around the world, but the one closest to our heart is the Emirates Airline Foundation. It is a non-profit charity organisation which aims to improve the quality of life for children, regardless of geographical, political, or religious boundaries, and to help them maintain or improve their human dignity. The foundation’s aim is to help disadvantaged children realise their full potential by providing them with the basics which most of us take for granted such as food, medicine, housing and education.
Focusing particularly on children caught up in extreme poverty, the foundation, made up of volunteer employees and friends of the Emirates Group, strives to reduce illness and childhood mortality rates.
Under the patronage of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman & Chief Executive, Emirates Airline & Group, the foundation provides humanitarian, philanthropic aid and services for children, with the minimum amount of administrative expense.
A board of directors, made up of senior Emirates Group management, decides on what projects to target with funds, which our passengers help build through their kind donations, as well as through our scheme to collect any loose foreign currency. The projects, either existing charities or new initiatives, are located primarily at Emirates’ destinations where local Emirates staff volunteers can participate and oversee their management, along with any assistance local communities may provide.
We are established by the permission of the Dubai Government and the accounts are audited by internal and external auditors. Our goal is to use 95 per cent of donated funds exclusively for the children, with five per cent allocated to administration costs. The use of funds is regularly audited by the Emirates Group Finance department and the Internal Audit department, while the Foundation’s accounts will be audited also by an external firm.
Compassion and caring for children in need are moral necessities. We all look for ways in which to give, but it’s not always easy. The Emirates Airline Foundation ensures your donations are put to work in ways that truly benefit children in need. The foundation has already done a lot of good work since its launch on 25th February 2003. You can read all about our projects on this website. We thank...
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