INTRODUCTION
Corporate Social Responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it because it is good for our business
– Niall Fitzerald, Former CEO, Unilever.
The current century is impacted by unpredictable challenges and opportunities, arising due to globalization. So it is recognized the world over business integrating their social, environmental and ethical responsibilities into the governance by the way of strategically formulating the CSR activities for ensuring their long term success, competitiveness and sustainability.
The idea of CSR first discussed in 1953 when it became an academic topic in HR Bowen‟s Social Responsibilities of the Business . Since then, …show more content…
Having a bad reputation socially and environmentally can have serious negative effects on the overall profitability and success of a company, as nowadays consumers want to spend their money on products and services that they believe in, and engage with companies that follow ethical practices that meet their own beliefs. CSR requires internal and external stakeholder’s engagement so it enables organization to anticipate better and take advantage of fast-changing expectations in society as well as operating conditions. By doing the social responsibility activities, organization can build long-term relationship with employee, consumer and citizen trust which act as a basis for sustainable business models. And it helps to create an environment and culture in which organization can innovate and grow. In the longer term, CSR provides a set of values on which to build a more cohesive society and on which to base the transition to a sustainable economic system. In today scenario the millennial consumer population grows, so the companies should consider their corporate social responsibility status. For attracting the Millennial Employee engagement is also having relationship with the company’s CSR …show more content…
Employees may therefore be offered special incentives, motivational packages, job designs and a fair organizational system that includes assurance of organizational justice. Engaging employees in corporate social responsibility can unlock a potential wealth of innovative thinking from within a business. Employees that are engaged with the mission and values of their employer are more likely to work harder and stay in their jobs longer. According to research findings of Great Place to Work Institute, managers at almost nine out of 10 of the UK’s top 50 best workplaces believe corporate social responsibility affects the employees’ motivation, satisfaction and
Corporate Social Responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it because it is good for our business
– Niall Fitzerald, Former CEO, Unilever.
The current century is impacted by unpredictable challenges and opportunities, arising due to globalization. So it is recognized the world over business integrating their social, environmental and ethical responsibilities into the governance by the way of strategically formulating the CSR activities for ensuring their long term success, competitiveness and sustainability.
The idea of CSR first discussed in 1953 when it became an academic topic in HR Bowen‟s Social Responsibilities of the Business . Since then, …show more content…
Having a bad reputation socially and environmentally can have serious negative effects on the overall profitability and success of a company, as nowadays consumers want to spend their money on products and services that they believe in, and engage with companies that follow ethical practices that meet their own beliefs. CSR requires internal and external stakeholder’s engagement so it enables organization to anticipate better and take advantage of fast-changing expectations in society as well as operating conditions. By doing the social responsibility activities, organization can build long-term relationship with employee, consumer and citizen trust which act as a basis for sustainable business models. And it helps to create an environment and culture in which organization can innovate and grow. In the longer term, CSR provides a set of values on which to build a more cohesive society and on which to base the transition to a sustainable economic system. In today scenario the millennial consumer population grows, so the companies should consider their corporate social responsibility status. For attracting the Millennial Employee engagement is also having relationship with the company’s CSR …show more content…
Employees may therefore be offered special incentives, motivational packages, job designs and a fair organizational system that includes assurance of organizational justice. Engaging employees in corporate social responsibility can unlock a potential wealth of innovative thinking from within a business. Employees that are engaged with the mission and values of their employer are more likely to work harder and stay in their jobs longer. According to research findings of Great Place to Work Institute, managers at almost nine out of 10 of the UK’s top 50 best workplaces believe corporate social responsibility affects the employees’ motivation, satisfaction and