Corporate Social Responsibility: A Necessity
Corporate Social Responsibility or CSR is a term used in business
. When a business organization takes a deliberate approach to fuse social as well as ecological concerns along with the measures of making profit for the organization, they are said to be following CSR.Establishing corporate social responsibility programs require the company or organization to put in lots of efforts and resources. The company has to take care that the workers are being given proper wages. The company also needs to work towards the community of the workers and their families.
Providing institutions that impart education, free medical services, protecting the environment are just some of the requirements that a company has to fulfill if it follows a CSR program. Because of the same reason many organizations differ and believe that CSR is not needed and is just wastage of resources. If a company following a CSR program is not able to make its efforts for the society known to the consumers, it might result in the consumer not being loyal to the company and buying the same products from other competing companies.
Benefits of CSR:
For The Company: If a company is able to market its products and also make their CSR responsibilities known to the consumers, the sales of the products could significantly increase in the market. These companies can get good number of loyal consumers. This would help the company to get an edge over their competitors and progress faster and gain profits. Following a proper CSR program keeps the workers of the company happy because of the facilities provided to them. These workers help in increasing the overall productivity of the companies.
For The Society: If more companies start following CSR, the benefits that the society can obtain from it are quite appealing. When a consumer buys products from responsible companies following CSR, other rival companies have to adopt corporate social responsibility to keep up with the competition. If more companies start following CSR programs, they will take more care on keeping the surroundings clean. This will result help in keeping the environment cleaner and reducing the pollution levels. Cleaner surroundings and maintaining a healthy environment would mean that the rate of workers falling ill will decrease.
Corporate social responsibility looks beneficial from any point of view. It is just a matter of time before other organizations realize that CSR is as advantageous to them as it is to the society.
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