Corporate Social Responsibility
Q. Corporate Social Responsibility is one of the hottest issues in corporate boardrooms these days, partly because it is becoming increasingly important to employees and other stakeholders. In your opinion, why have stakeholders given CSR more attention recently? Does abiding by CSR standards potentially cause companies to have conflicting objectives with some stakeholders in some situation? Yes. It is very much true that CSR is one of the hottest and limelight issue in corporate world. Organization are striving hard to meet CSR at any cost as it build the image of the organization.
An organization which spends on CSR is reflected as a good and society friendly company in the eyes of its employees, stakeholders and the outside world. Tata is one of the best example who are the founder of CSR in India. While they have started their first steel industry in 1868 they abide by CSR by developing various schools, hospitals, buildings for national interest etc. The result we can see today is that TATA is one of the respected company in India. Another example of best CSR is that of Reliance : In May 2010, blood was donated simultaneously in the cities of Ahmedabad, Mumbai, Pune, and Surat.
Corporate Social Responsibility Essay Example
In February and in March, again the western team at Reliance Consumer Finance spent time with older people and with street children at their care centers in Ahmedabad, Indore, and Mumbai. Clothes and money was also contributed. Recently Ministry of Corporate Affairs have issued a circular urging all companies to Go-Green I. e to go paperless as far as possible. The lifeline of Mumbai road BEST came with a good initiative to lesson the pollution urging the people to use buses to de-congest road. The Shell Foundation’s involvement in the Flower Valley, South Africa.
In Flower Valley they set up an Early Learning Centre to help educate the community’s children as well as develop new skills for the adults. Companies participate in are establishing education facilities for adults and HIV/AIDS education programmes. The majority of these CSR projects are established in Africa. JIDF For You, is an attempt to promote these activities in India. A more common approach of CSR is philanthropy. This includes monetary donations and aid given to local organizations and impoverished communities in developing countries
Companies have changed their attitude and thinking toward CSR from Friedman’s view that “CSR means using the resources and engaged in activities which are designed to increase its profit only” to a responsible citizen with a commitment to do good to the society and its statekholders. Organizations, like individuals, depend for their survival, sustenance and growth on the support and goodwill of the communities of which they are an integral part, and must pay back this generosity in every way they can