Corporate Social Responsibility

Wow! A lovely, and friendly society I am living in. Giving and taking are the parts of our lives to the society.

I guess everyone has the same in their lives. Then don’t you think ‘corporate’ is also somehow somewhere linked to the society and sarroundings. So here lets talk about the some business responsibilities apart from their regular business deals.

CORPORATE SOCIAL RESPONSIBILITY (CSR) – in which a business works for the sake of others completing its legal and moral obligations. CSR is, in which an enterprise commits to behave ethically, contributing to economic development, with the improvement in its workers life,their families, and for society’s wellbeing. Society as a whole may not be served good if the corporations are doing good only to its stakeholders, their members n employees. CSR makes business build capacity for sustainable livelihood of the corporation. It respects cultural differences and finds the business opportunities in building the skills of its employees, the community and the government.

Goodwill of an enterprise(an important aspect) can’t be valued only on basis of ” how much its shareholders are enriched”. It’s a joint valuation of work in which the employees, the customers, management, stakeholders, trading officials, the government and the society go hand in hand. Thus, one basic principle of CSR is sustainable development where an enterprise must finalise its decisions after having analysed its long term affects on the society as well on environment.

Lets talk about some more principles, at large —–

1 Providing a safe and healthy work environment – Nobody likes to work in an unhealthy environment or in a firm who doesn’t meet with their expectations. Under CSR, a business invests in its employees wellness programmes that offers on-site daycare or fitness facilities.

2 Environment protection plans- 21st century full of pollution and after causing diseases. Though people and government put efforts in fighting the aftereffects. But somehow an enterprise also must do. Under CSR, business invests in environmental protection pans and plus uses best less pollution creating methods (one of best methods – 3R).

3 Being truthfull in advertising -Who does want a profit!  Who does not wish to increase in sales due to increase in marginal customer level!  CSR bounds an enterprise to not advertise their products containing inaccurate, or deceptive claims,  statements, or illustrations for earning huge marginal revenues.

4 Donating to charity – Ah! This DONATING is something people do in their day to day lives, right! So then an enterprise also must do for its good reputation. CSR has a very needy part of Corporate Philanthropy under which business promotes the welfare of others, via Charitable donations of funds or time.

Profit maximisation, expansion of business, its survival, and growth; such targets can easily be achieved by fixing high cost of good or services but in the short-run only. For sustenance and long-run profits,  a firm has to adopt CSR.

Even the stakeholders are more attracted towards the firms having a good CSR.

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