Sunday 4 November 2012

CSR

Corporate Social Responsibility(CSR) means that a corporation should act in a way that
enhances society and its inhabitants and be held accountable for any of its actions that
affect people, their communities, and their environment. this means making a commitment to give back to the society. Many companies dont give back to the society yet the partonize them.
Being socially responsible does not mean that a company must abandon its other
missions.
CSR considers the impact of the companys actions on society.

It requires decision makers to take actions that protect and improve the welfare of society as a whole.

CSR has two principles that govern their activities such as charity : business should give voluntary aid to societies,needy persons and groups.
and stewardship principle means business acting as a public trustee and should consider the interest of all who are affected by business decisions and policies.
  why indulge in CSR
  • CSR addresses social issues and allows business to be part of the solution.
  • Protect self interest
  • Limits future government intervention
  • Addresses nissues by using business resources and expertise
  • Addresses issues by being proactive
It will be really captivating if companies and businesses give back to the society because this doenst onoly benefit the community but the company as well leading to a win-win situation.

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