Essay on Corporate Social Responsibility in Context of Nepal
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. While there is no universal definition of corporate social responsibility, it generally refers to transparent business practices that are based on ethical values, Compliance with legal requirements, and respect for people, communities, and the environment. Thus, beyond making profits, companies are responsible for the totality of their impact on people and the planet. In the business community, CSR is alternatively referred to as “corporate citizenship,” which essentially means that a company should be a “good neighbor” within its host community.
Corporate Social Responsibility also called as socially responsible business is a relatively new concept in Nepal. The Nepalese businesses have recently started using the terminology CSR. In Nepal for decades, businesses have been practicing silent corporate philanthropy such as building, roads, temples, donation to schools or community development etc. In other words, social responsibility refers to the obligations of a firm, beyond the required by law of economics to Pursue long-term goals that are good the society. Education, training and welfare of under privileged, contributions to healthcare and environment, heritage and culture protection, contribution to association, clubs and other organization etc are the most commonly used CSR activities in Nepal.
Each business organization is the social institutions and they are living members of the society. Similarly business form used resources of the society and provide output to the society .It is the major obligation of the business firm to protect the social norms, rules and values .It is the duty of the organization to compensate against the Utilization of resources of society and the business organization compensate by lunching development activities .Every business organization needs to fulfill sum degree of social responsibility and environmental needs. However there is controversy among managers regarding the level of social responsibility that they have to fulfill. Company spends its income but rather about how it generates corporate social responsibility in Nepal as consider as chance of peace and prosperity. In Nepal CSR can very much is about helping to stabilize the peace process. CSR is about working with those who may be outside of the mainstream and e.g.: developing livelihood opportunity so that people do not have to migrate, developing programs that keeps children, especially females in school so that they can obtain at least a SLC certificate or providing health facilities to women to protect in reproductive health . Business is the driver but needs to partner in order to continue to develop new markets and be sustainable.
CSR activities in Nepal
* Realizing the importance of CSR for overall economic development of the nation Lotus Opptunities launched Socially Responsible Business Development Network (SRBDN) in 2004.
* CSR is already included in the three year interim plan of Nepal, it encourages private sector investment in sustainable and employment generating ventures by promoting competitive capacity and subsequently expects private sector to keep their operation transparent, adopt good governance, carry social responsibility and entertain participation of stakeholder and labor management.
* NIBL is committed to building and maintaining a strong relationship between the Bank and the larger community. It sponers a diverse range of programs that encourages a strong corporate culture of giving in the name of charity and responsibility to our community and nation.
* The Chaudhary Group has the established Shree Lunkaran Das-Ganga Devi Chaudhary Charity...
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