CSR in Saudi Arabia
Due to the fact that the concept of CSR arise a lot of questions in a global base, more questions are asked within the Middle East and Saudi Arabia in particular. There are many misconceptions in Saudi Arabia of this important element of every society. In short, the CSR concept in Saudi Arabia is in the first stages of its maturity. Given its wealth of the natural resources and how large the youth proportion of 65% of its total population, Saudi Arabia approaching great opportunities of development including CSR. In November, the ministry of trade is organizing a large event that is dedicated encouraging CSR’s effectiveness and positive impact and revolving around important issues regarding CSR within Saudi organizations.
From a common sense view, organizations are aiming to support economic development, social welfare and environmental sustainability through CSR. However, many organizations are not approaching the right way in strategizing their operations and strategic executions. Most organizations donate certain financial resources to charity organizations and still do not realize the difference between philanthropy and CSR. On the other hand, there are few organizations that operate within their CSR programs efficiently like Abdul Latif Jameel.
Abdul Latif Jameel is a Multi-National corporation from Saudi Arabia that has a diversified business portfolio with an estimated revenue of $3.3 billion annually. They are known for being the largest independent Toyota distributor in the world. The company’s constantly pursue socially responsible initiatives. Their belief of CSR is derived from how businesses align their values and behavior with the stakeholder’s expectations and the society as a whole.
ALJ’s CSR program emphasizes on entrepreneurship and job creation. They collaborate with governmental authorities in funding small businesses and training recent graduates before entering the corporate world. They also encourage dual...
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