Corporate Social Responsibility

EDDASSI HASSANE By EDDASSI HASSANE, 3rd Feb 2016 | Follow this author | RSS Feed | Short URL http://nut.bz/14yivi11/
Posted in Wikinut>Business>Ethics

Corporate Social Responsibility or CSR is an important competitive advantage for businesses all over the world. This article tries to define the concept and gives several examples of CSR actions.

introduction

Corporate Social Responsibility (CSR) is the voluntary integration by companies of social and environmental concerns in their business operations, production processes and relations with stakeholders: customers, suppliers, employees, shareholders... It is a spontaneous inspiration to recognize and accept the commitments businesses have towards communities.
Being socially responsible does not only mean to fully comply with the legal obligations but also goes beyond, by investing in human capital and enhancing the relationships with the environment and the community.
Social Responsibility is intended to improve business management strategies in order to minimize the impact of companies’ activities on the environment, on present generations and on future communities.
It is an ethical form of management aiming at meeting the expectations of all stakeholders (shareholders, employees, community, customers, suppliers, environment, and government) in order to improve the quality of life and the competitiveness of the firm.
Some authors affirm that the movements for Corporate Social Responsibility started in the thirties while others argue that it began in the seventies, but the fact is that since the nineties, this concept has been gaining strength and steadily evolved after the advent of globalization, the acceleration of economic activity, the growth of environmental awareness and the development of new technologies.
Several actions can be handled by firms in order to be Socially Responsible. These implemented actions vary according to the targeted stakeholder.

Employees:

Considering the vital importance of employees in the success of a corporation, the firm bears an obligation towards workers. Examples of actions implemented in this regard include:
• Recruiting local employees
• Guaranteeing nondiscrimination and professional equality
• Hiring women
• Integrating disabled people
• Prohibiting child labor
• Providing healthy and safe workplace
• Ensuring Social Security and benefits
• Granting scholarships to employees’ children
• Training personnel
• Encouraging social dialogue

Community:

With the impact business activities have on the nearby communities, managers must recognize the growing responsibilities they have to fulfill regarding the society. This includes:
• Local purchasing
• Reducing poverty
• Building access roads
• Supplying drinking water
• Diminishing illiteracy
• Encouraging schooling in rural areas
• Training young people
• Implementing solidarity actions
• Sponsoring events

Customers:

Customers can be considered as an essential component in the external environment of companies. Numerous CSR actions are executed to satisfy the expectations of this stakeholder category such as:
• Access to healthy products
• High-quality merchandise
• Encourage child nutrition
• Continuous innovation
• Effective information policy
• Efficient pricing strategy
• Active sales service departments

Environment:

Companies are executing several actions as a way to reduce their impacts on the atmosphere. Examples include:
• Recycling
• Reducing energy consumption
• Using renewable energy
• Applying waste management policies
• Diminishing CO2 emission
• Restoring exploited sites
• Limiting impact on air, water and soil
• Integrating environmental clauses in purchasing contracts

Conclusion

In these times of economic crisis and environment degradation, Corporate Social Responsibility constitutes a mature, conscious and sensitive response to the issues of our world requesting the adoption of habits, strategies and processes that help reduce the negative corporate consequences on the atmosphere and community.

Tags

Csr, Social Responsibility

Meet the author

author avatar EDDASSI HASSANE
Phd in CSR
writing about taxation, marketing, business organization, managment

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Comments

author avatar Md Rezaul Karim
8th Feb 2016 (#)

Corporate social responsibility is an undercover agenda for corporate offices to evade taxes in the name of helping others.

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author avatar EDDASSI HASSANE
8th Feb 2016 (#)

You may be right in some cases, but we cannot deny that the efforts made by corporations in terms of CSR actions have improved the quality of life even if it is tax evasion.
In addition, not all CSR actions are tax exempted.

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author avatar SaigonDeManila
30th May 2016 (#)

Definitely agrees 👍👍

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