Corporate Social Responsibility (CSR)
Corporate social responsibility is a type of business organization that aims to bear responsibility towards society. Although there is no single method that companies can follow to achieve social responsibility, most companies contribute to societal initiatives, whether with regard to the public, the economy, or the environment.
The concept of social responsibility
Social responsibility has a broad and comprehensive concept, as it can take many forms, including charitable and volunteer work, and there are some companies that take the approach of enhancing value. Its brand To benefit society through it.
Social responsibility plays an important role for the company itself, as it does for society, as corporate social responsibility works to raise trust between companies and their employees and forms a bond between employees and company owners and the community surrounding them.
In order for companies to be able to perform social responsibility, they must be accountable to their employees, shareholders, and people investing in them, as social responsibility begins from within the company and achieves success and development for its business, so that social responsibility turns into a business strategy inside and outside the company. The greater the success of the company, the greater the responsibility towards society and companies. Competition in terms of ethical standards, and this is not limited to large companies only, but many small companies participate in creating social responsibility programs, and despite this, they do not receive the same amount of advertising and attention that large companies receive.
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Types of social responsibility
Companies focus on certain categories of social responsibility in order to ensure the achievement of the goals that companies seek through the efforts of that responsibility, whether for their employees, customers, or society in general. These categories or types are:
- Environmental responsibility
Through environmental responsibility, companies will have to commit to practicing things that help preserve the environment and companies contribute to reducing gas emissions to reduce global warming, as well as disposing of waste in a correct way, reducing pollution, and preserving natural resources. Environmental responsibility is determined based on the size of The company, where major companies must use alternative sources of energy that are environmentally friendly in addition to using sustainable materials, while other companies must use a recycling policy and assist environmental organizations.
- Moral responsibility
Ethical responsibility can be defined as a guarantee by the company to conduct all its work in a good and fair manner, starting from the company’s employees and investors to customers and consumers. Ethical responsibility also takes multiple forms, such as setting a minimum wage, and obtaining the materials used by the company from good and ethical confiscation.
- Charitable responsibility
Companies can fulfill this responsibility by donating a percentage of profits or contributing to a fundraising initiative for a non-profit charitable organization.
- Economic responsibility
Companies make financial decisions under the heading of economic business. This is due to the economic responsibility of companies, where the priority is not only making money, and it is noteworthy that all the previous types are intertwined with each other.
The importance of corporate social responsibility
Social responsibility helps the practices undertaken by companies to transform them into practices that positively affect employees and society in general. This responsibility also benefits the brand as it enhances its value through initiatives undertaken by the company that work to increase trust between it and the public.
Among the benefits of social responsibility is spreading goodness and positivity in society, whether by setting fair wages for employees, using sustainable materials, or respecting employees and customers.
Therefore, assuming social responsibility by companies is a win-win for everyone, as this benefits society and companies as well, and undertaking a social responsibility initiative in a correct and honest manner may make a real difference in the entire world.
