ROLE OF CORPORATE SOCIAL RESPONSIBILITY(CSR) IN TODAY’S WORLD

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 ROLE OF CORPORATE SOCIAL RESPONSIBILITY(CSR) IN TODAY’S WORLD



Today it cannot be considered an exaggeration if we consider business and business houses to be a part of society and to view them together as something inseparable. The business houses through their actions and activities affect the survival of billions of people around the globe and hold the power to change their surroundings, their natural resources, and the whole environment itself by implementing various aggressive and profitable business strategies. More of the consumers than ever before, today are voicing their demands to change the way the companies do their business and pushing them to radicalize their business practices. They want the business existing in today’s world to become more transparent and take an active role to realize their Corporate Social Responsibility (CSR) towards addressing the various social, cultural, and environmental issues.

The Concept of CSR-

CSR means when a company or a business enterprise operates in a way that is ethical and sustainable and deals with the environmental and social impacts that they can possibly incur through the actions they take or the decisions they make. This means careful consideration of human rights, the community, environment, and society in which it operates.

This article outlines the importance of corporate social responsibility and the benefits that sustainable and ethical practices can bring to your business in today’s times.

Business is a part of society. The time has long gone past when the business houses could be separated from society. Mow everything a business house does could affect the surroundings, the natural resources, and also lay influence over the survival of many. The profit or the non-profit motive of a business can lay emphasis on the dynamic nature of society.

As we see the millennial population growing around, it becomes extremely critical that the companies of the modern times also acknowledge their Corporate Social Responsibilities, because that is one thing that can help in instilling a moral code of conduct and make the people of tomorrow realize their responsibilities against their own posterity. CSR, thus in the crux of it can be described as a community-based approach in today’s times. It is therefore the continuing commitment of businesses to contribute towards the overall development of the people and look towards the improvement in the way of living standards of the population as a whole.

Benefits of CSR in today’s world-

  • Increased brand awareness and recognition. If you’re committed to ethical practices, the news will spread. More people will hear about your brand, thus creating increased brand awareness.


  • Cost savings. Many simple changes in the direction of sustainability, such as using less packaging, will help to decrease your production costs.


  • Improved public image. As consumers assess your public image when deciding whether to buy from you. Something simple, like staff members volunteering an hour a week at a charity, shows that you’re a brand that is committed to helping others. This will also help you appear much more favorable to consumers.


  • An advantage over competitors. By embracing CSR, you stand out from competitors in your industry. You establish yourself as a company committed to going one step further by considering social and environmental factors.


  • Greater employee engagement. Similar to customer engagement, you also need to ensure that your employees know your CSR strategies. It’s proven that employees enjoy working more for a company that has a good public image than one that doesn’t. Furthermore, by showing that you’re committed to things like human rights, you’re much more likely to attract and retain the top candidates.



Article by: Avi Sharma

Edited by: Aastha Soni

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