Corporate Social Responsibility

MGT-610
Assignment 1
Q No. 1

(10-marks)

How do companies ensure that business and CSR are not mutually
opposed to each other?
CSR helps a company to create a sustainable brand. It ensures
compliance to the laws and norms. Generates satisfaction among
stakeholders and creates an everlastingrelationship based on trust. All
these help a company to earn profits without any shameor fear and give
back to the society.

Good Luck!

Governments, activists and the media have become able to make companies responsible for the
social consequences of their activities. Many businesses have well advanced in improve the
social and environmental impact of their activities, but these efforts are not as productive as they
might be, for two reasons. First, they put the business against community when clearly both are
interdependent. Second, they are pressuring firms to think about the social responsibility in a
generic way business instead of the most suitable manner to every business strategy.
However, if companies were to analyze their prospects for social responsibility using the same
frameworks that their choice of basic guide of the company they would discover that CSR can be
much more than a cost, a constraint or an act it can be a source of charitable opportunities,
innovation, and competitive advantage.
None of these approaches exploit important shared value creation opportunities that have been
achieved through smart partnership. In these companies, the development of society goes beyond
avoiding risks and improving the reputation and meeting the challenges or major strategic issues.
For society, the focus shifts is to maintain the minimum standards or funding to improve
employment, the quality of life in general, and the standard of living.
A key priority for a socially responsible company is to develop and maintain strong and mutually
beneficial relationships with the community. Companies that are active in the welfare of
community can generate community support, reliability and good will.
Companies with community relations and community engagement typically perform community
awareness to prevent or solve problems, promote social partnerships, and generally contribute to
the quality of life of a community. They also participate in community relations to help improve
their business by getting valuable community and other stakeholder input.
An important goal of community involvement is to ensure your location, products and services,
and infrastructure are without constriants, allowing all people to use independently, regardless of
the capacity of each gender, age, ethnicity, etc. Companies can show their commitment to
inclusion by welcoming everyone so that all community members feel included and a sense of
belonging.
Companies looking to make a direct and significant contribution to poverty reduction and
economic and social inclusion may be interested in the opportunities to hire people who face
barriers from work because of a mental development or physical market, skills do not match, the

lack of skills or work experience, the long-term unemployment, the lack of recognition of
credentials, age, culture, language, etc ..
"Social recruiting" is a commitment on the part of employers to actively recruit employees with
employment needs. There are many roads to find quality candidates for the examination
stakeholder engagement is the process of listening and talking to your stakeholders - typically
employees, customers and community members - about their issues, concerns and needs, and
also the business "important information on important decisions more and more companies are
realizing that it's important. listen to their key audiences to identify market opportunities, manage
risk and help innovate their products and services. Basically, stakeholders are those who have a
direct or indirect interest in your organization and its decisions and activities. stakeholder
engagement can help improve communication, facilitate buy-in on projects to generate support
from the community, and to tap into the information, data and ideas. listen to the concerns and
desires of your stakeholders can help you take into account their different priorities and
perspectives. It can secure your "social license to operate. "
A fourth area, community donations, volunteering and partnership is considered in a separate
section.
Business Benefits
Your community relations can help improve your business reputation and public image with the
community and other stakeholders. Companies that have a strong goodwill in the community are
better able to attract and retain employees. Employees prefer to work for companies that make a
difference in the community and happier employees are generally more motivated, engaged and
productive.
Companies that are in touch with their community and other stakeholders are able to capitalize
on new market trends and opportunities for innovation. Through community contacts and other
networks, companies are likely to generate new business ideas, directs sales and partnership
opportunities.
In the end we can conclude that CSR if used effectively and efficiently can result in a
progressing point for business than being a opposition to the core business objectives.