(CSR) Corporate Social Responsibility is a term used in business. When an enterprise takes a planned approach to fuse social as well as ecological concerns along with the actions that could achieve profits for the business, they are said to be following CSR.
Establishing corporate social responsibility programs involve the businesses to put in lots of efforts and resources. The company has to take care that the employees are being provided with apt salaries. The company also needs to work towards the community of the workers including their families.
Stipulating organizations that impart education, free medical services, protecting the environment are just some of the public affairs that a company has to fulfill if it follows a CSR program. Because of this reason several establishments differ and consider that CSR is not needed and is just wastage of resources. If a company that follows a Corporate Social Responsibility program fails to formulate its efforts for the society known to the consumers, it might result in the end-user not being a dedicated consumer of the company products and might shift to other competing companies.
How can you boost your CSR rating? Here are a few suggestions.
Get involved – Many companies donate big money to their chosen charities. While this is a grand gesture, getting involved yourself has much greater impact.
Be informed – One of the problems in this world is that many are not willing to listen to others. They just go on with their business and don’t pay attention to their surroundings. But if you want to boost your CSR rating, understand that it’s extremely important to be informed.
Stay connected – A big mistake of many companies in fulfilling a social responsibility is to treat it as a project. Once it’s done, they never go back to it. If you want to boost your CSR rating, you need to understand that you are dealing with social issues that can be bigger than the problems in your office. Doing this will create a stronger relationship not only between your company and the community but also between you as people.
Corporate social responsibility is something all corporations think about. Some decide to support is because it is good press and Crisis Management will give their employees a sense of pride which might raise their throughput. Instead, some are against CSR since they realize they have an obligation to their stockholders, and they feel that people should learn to take care of themselves. Personally, I am split between the two. I see very logical debating from both sides. Proviso, I had to select one side, I would choose to support corporate social responsibility. I think the multiplied cost in support of CSR (Corporate Social Responsibility) would increase returns enough to offset the support of the local area.