I wrote my dissertation on the role of companies and Corporate Social responsibility in Kenya. I was surprised at how few companies engaged in CSR. The conclusion was either that the companies do not know how to engage with the immediate community, they were aloof or were not aware of what Corporate Social Responsibility(CSR) is.
What is CSR?Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable — to itself, its stakeholders, and the public.
By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society including economic, social, and environmental.
To engage in CSR means that, in the normal course of business, a company is operating in ways that enhance society and the environment, instead of contributing negatively to them.
How does a growing, young company give back to community? Research has shown that there are several ways to support the community without blowing budget on Corporate Social Responsibility (CSR) kitty. If well implemented, it gives small companies a fair competitive environment.
Important to note that every responsible company should have a CSR programme. Most give back to the society through foundations, employee donations, sponsoring events and voluntarism. Large companies often pay staff to oversee this vital component.
In today’s environment of cut throat competition, everyone is busy chasing targets and handling the pressure at the workplace that we often forget that there is a world around us as well.
CSR therefore allows organizations to do their bit for the society, environment, customers or stakeholders such as shareholders. This makes it significant within the corporate world.
The golden rule dictates that we “Do onto others as you would have them do onto you,” and this extends to groups ,organizations and businesses.