Social Responsibilities
Corporate Social Responsibility
“Striving to bring an impactful and positive societal change”
It is highly appreciated if a business takes voluntary activities for the society apart from thinking about their profitable income. Corporate social responsibility must be encouraged among the corporate and personal groups as this will showcase a keen sense of social responsibility amongst this evolving digital economy era.
Contribute to the social goals within your corporate space wherein you can potentially drive your social skills. From a business perspective, CSR initiatives will help you to stay accountable to the public, stakeholders and to yourself as well. The resources who are within the organization can build their values more efficiently by taking part in several CSR activities like in the promotion of education, bringing gender equality, disease treatment, providing environmental sustainability and many more.
Because of the problems in the definition of CSR, there is an undeniable uncertainty as to what activities come under CSR. Thus, to identify the activities under the ambit of CSR there are three basic principles that have been laid down. These are:
Sustainability
This is a basic understanding as to what impacts our present actions and decisions will have on society’s future at large. This means that utilising resources today in such a manner that they are left for our future generations. Viewing and seeing an organization through this lens implies that actions of the organizations must be thought upon and taken into consideration not just for the measurement of costs and value created in the present but also for the future of the business itself.
Accountability
This is concerned with any large corporation in understanding that its actions affect the external environment equally well as it affects the internal environment, and therefore such organizations need to take up and assume responsibility for the effects of its actions. The idea of accountability thus basically interprets a measurable data of calculations of effects of actions that have been taken by the organization, both internally as well as externally. this this is the dummy text for space
Transparency
Talking about transparency as a principle means that there needs to be a certain level of clarity in reporting of the external actions of an organization. It implies that the external impact of the actions of the organization is an extremely important factor in the determination of its fulfillment of obligations towards society. And such an action’s impact can be ascertained from that organization’s reporting of all the
important and pertinent facts that are not hidden or disguised within a particular reporting period or in a certain particular report. Thus, transparency as a principle requires all the effects of the actions of the organization, including its external impacts on the society or otherwise, should be apparent and on the face of it to all, from the use of the information provided by the organization’s reporting mechanisms.
Role of CSR in Community Development
From the concept of CSR, it is quite clear that it has a significant impact on our society and environment. Thus, CSR plays a major role in the community development process. There are certain important roles that CSR plays in the overall development of a community and the social system. These roles are:
- To share the negative consequences as a result of industrialization which results in conscience-focussed market places and necessitates ethical business practices
- To maintain a closer and harmonious tie between the corporations and the community
- CSR has a major role to play in the transfer of technology
- It helps to protect and improve the environment.
- CSR also exists for human rights corporate sustainability.
- It reflects the interdependency between the corporation and the community.
- It can be helpful in alleviating poverty as well.
- It is helpful to incorporate sustainability goals.