The topic of business social responsibility in recent years has become increasingly relevant in the business and scientific circles around the globe.
Corporate social responsibility is a constant commitment of companies to conduct business on the basis of ethics and to contribute to economic development, while at the same time improving the quality of life of their employees, their families, and the society as a whole.
To manage the social responsibility of a firm means to find a balance between efforts and resources aimed at achieving commercial goals and doing something for the society.
In the modern business world, corporate social responsibility (CSR) pays special attention to the company’s relations with employees: training and professional development, the use of motivational remuneration schemes, the provision of a social package, the participation of employees in decision-making processes, and the maintenance of internal communications. This approach is not really what CSR is about. The social responsibility of any company should not be fixed only on one aspect of its activity.
There are more than a dozen areas of implementation of social responsibility. Depending on the type of your company, you could finance or even set up support programmes in the educational or training fields, the healthcare system, support various initiatives of municipal authorities and civil society organizations. One of the indicators of the growth of social responsibility of a business is its socialization, the implementation of a significant part of programmes associated with the well being of the society.
The main forms of implementation of social programs:
- charity donations;
- social investments;
- funding and grants for socially significant initiatives;
- socially significant marketing (cause related marketing);
- corporate volunteering.
The correct approach of CSR to the development of the social sphere are: the presence of well-considered priorities in corporate social policy, a combination of policy and producing of its products or services, the competitive selection of programs for social investments, the relationship of corporate social programs with the image and brand of the company. The business community must improve its social strategy, develop and implement mechanisms in order to place the CSR interests in the business-society-state dialogue, and thus enter the stage of forming a consolidated position of socially responsible business.
Thus, corporate responsibility is nowadays becoming a modern type of business activity, which has a significant impact on the management and decision-making processes, taking into account the interests of all interested parties. Corporate social programs are becoming a prerequisite for sustainable business and at the same time a factor in improving social stability and living standards.
Does your company implement CSR programmes?
