Corporate Social Responsibility (CSR) is an important facet of a company where it should never forget to be a part of the welfare of a community where the business is located. Most companies sponsor scholarship grants to deserving students and they also donate school buildings. Some companies sponsor health and medical missions too or sponsor sport events. What other activities can you think of that companies should be involved with?
The importance of Corporate Social Responsibility
- Thread starter relcap23
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Corporate social responsibility does more to boost the reputation of a company more than any form of influencer endorsements. When a business enjoys the support of society, it would go places.
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- #3
That is correct and actually government requires them to do that. This is specially important for most. multinational companies that they have to be friendly and in good relationship with their host community.
Corporate social responsibility (CSR) should always be carried out by every company, because every company has a responsibility towards the environment, consumers, employees. But in general, companies are negligent about this responsibility, they are more concerned with making big profits.
All small or big scale companies should incorporate social responsibility as much as possible. However, some of them do not bring back the blessings in their respective communities. I hope that they could do this for the sake giving thanks to their clients.
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- #6
The government should clearly emphasize this with the stakeholders.. Companies exploit the environment even some labor force are exploited. Constant dialogues must be done with these companies that they have other roles to do other than merely focused on making a profit for their organization.
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I agree, regardless of the size of their company it's a must for them to give importance to their contribution in the community. It's also proper for government officials to remind companies... This actually helps. in promoting the company's image.
That is the main problem/problem, if many important positions in government are occupied by business people, so they can ignore social responsibility, once they carry out social responsibility it will be broadcast on television only for prestige.
Every businesses must has social responsibility for its host community or country. This is a kind of sense of belonging to that business owners. Apart from this it would also promote good relationship between the businesses and the host communities. Companies can do this through the sponsorship of national events like education, medical, cultural etc.
The moment a company is not in terms with its host community z it can as well kiss the business goodbye because the locals would not patronize the business and would spread lots of negativity that can crash the business.
It is crucial for the company to have a good relationship with the community which it is established because that is what will foster better relationship and if you drive the business as well.
So how do you think a business like a grocery store can build the kind of good relationship you are talking about? Should they be giving out free items to the community leaders?
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- #14
The local. community and its leaders eill find ways to make things hard for them more so if they are not making effort to care for the environment. If they cannot be charged legally for not exercising their corporate social responsibility then maybe charge them with other issues like environmental issues.
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- #16
There are shrewd businessmen who would not want to share a portion of their earnings for the welfare of the community.
A lot of companies are into Corporate social responsibility (CSR) nowadays. Other than just making profits, most organizations also try to make contributions to the community. They may set up a fund to support charitable events, encourage staff to do volunteer work.
CRS can be fulfilled only by big businesses. Apple is a 2 trillion dollar company, it can spend millions, if not billions for CSR. However, a business like money that only generates $50-$100 monthly sales cannot afford CRS.