Its about making a positive impact on society whether social, ethical or environmental. Having CSR helps a company promotes the name of the company and helps build its reputation. As the company becomes more and more known it easily attracts customers and prospective employees, making the company more profitable. As a survey has proved, the majority of people agree that companies should pay more attention to Environmental issues(61%) and contribute more to society(52%). That’s why many of today’s successful companies have incorporated CSR and made it a real part of their
Furthermore, there are some benefits that can help the company to increase the market value. First of all, with the triple bottom line reporting, the business can improve the risk management through enhancing the management systems and the company can have better business planning as the risks are understood. Triple bottom line reporting helps to ensure the company is embedding the corporate governance and acts ethically not only on the Board level, but also on the whole company. Although it cost time to train the staff and need more time for the preparation work about the triple bottom line reporting, the staff and the shareholder may have more confidence on the business that the organization are focused on the social contract and ensure they survive in the coming future ethically (Department of the Environment and Heritage 2003). Corporate social responsibility is embedded in the social contract and most of the company.
“We find ourselves in debt for other benefits that baffle our mechanical logic and defy our measures” (Berry 63), if we continue to break the Great Economy’s rules and regulations, severe penalties from the topsoil will occur. Thus, we will not have enough foods supply to sustain our lives
These environmental effects are extremely worrisome to the general public and have been highly detrimental to various economies. Climate change has often been pushed aside and considered a hoax or insignificant to many however as economies begin to suffer due to its effects people will begin to be directly affected. The dangers of climate change pose a threat to the infrastructure and housing of specific regions as it causes massive storms that can damage these buildings,it also decimates crops and causes massive droughts hurting the entire food supply drastically, and as the climate begins to melt icecaps, deadly diseases and bacteria will be released into the general public. All three of these effects of climate change are huge threats to the economies of the world and is currently the biggest threat to the common
Recently, promoting human welfare and increasing positive impacts on society have been accepted as core of business operations by most companies. This kind of corporate activities are included in Corporate Social Responsibility model. In increasingly competitive world organizations and companies face with the demand for profitability and responsibility. Thereby, they use some strategic philanthropic actions for meeting this demand. These actions are gathered under the idea of Corporate Philanthropy which is the foremost part of Corporate Social Responsibility model, created for both the corporation’s benefit and welfare of society.
It is in this area that the bigger part of the resources would be allocated and strategic campaigning would be done. Plan towards building an inclusive organisation 1. The company can make use of traditional HR methods like annual employee surveys, and performance is rewarded based more on presence than achievement and results. Offering real-time performance reviews, company analytics and employee recognition, these platforms can change the status quo to create an engaging, rewarding work environment. 2.
This then has a ripple effort, as those who benefitted from CSR programs tend to also give back to others and so the cycle will continue. More empowered and able people in the economy, the more the economy will thrive, creating more jobs, better salaries…etc5. CONCLUSION: Conclusion question: Is it really necessary for companies to get involved in CSR? I certainly believe that it is important for a company to get involved in CSR initiatives for a few reasons. 1.
Oil) and land. It is no doubt that this has heavily influence the GDP growth. However, there are also many prominent sectors such as manufacturing and service (e.g. tourisms) that has also contributed to the growth of the GDP. In whole, all this sector relies on manpower, without it, the economy will not grow.
Most consumers believe companies doing charity will receive a positive response. During years, number of companies that concern about CSR is increasing significantly. They put serious efforts to integrate CSR in their business. Shareholders, activists, employees, community organizations, and off course the media demand the company to be open transparent and accountable about their CSR programs. As we know, the way a company implements their CSR programs is vary each other’s.
Introduction Corporate social responsibility reflects the benefits corporations provide to local communities, the country as well as the environment in general. Globalisation has caused an increase in pressure on companies as well as their employees to act responsibly in and outside of the office. Companies will benefit in the sense that customers will be more loyal to them, locals will be more tolerant and cooperative, employees will be happy, output improves as well as reducing the risk of hazards and accidents that affect the natural ecosystem (Idowu and Towler 2004). Corporate social responsibility is employed by companies as a means to get closer and to repay their staff as well as the community as a whole. Corporate social responsibility