In this article, we are going to discuss about corporate social responsibility. Corporate Social Responsibility also has a very famous abbreviation which is CSR. There are several places in this article where the term CSR has been used several times. Please make up the full form of CSR on your own in your mind so that you do not face any kind of difficulty in reading the points given in the article.
CSR means the responsibilities of the organizations towards the society. Let us understand its meaning by dividing the words, Corporate Social Responsibility, Corporate means organization and business, Social Responsibility means responsibility to the society. If you try to find out the meaning of things by dividing them in this way, there is a high chance that you will know the meaning of that thing very soon and for a long time.
It is not mandatory for organizations to help the society by donating and doing something. The government will not impose any fine on organizations that do not help the society. It completely depends on the organizations whether they want to fulfill their responsibilities towards the society or not.
But yes, if an organization plays its responsibility towards the society, then the society also gives its full contribution to help the organization. For example- If the people of the society come to know that there is a company X which is a chocolate company donating a lot of money to an NGO (Non-profit organization) to help the people who need the basic necessities of their life. If it is, then this contribution of the company will increase its status and respect in the hearts of the people of the society and people will think more to buy chocolates of company X instead of other’s company.
To understand more you can assume in your mind that if someone is helping another person then what would you think about that person in your mind. I am sure the first thing that will come to your mind is that he is a nice and helpful person.
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social responsibility of business
The social responsibility of the business towards the society is not just donating money. Business can fulfill its responsibility towards society both monetary and non-monetary. For example- Company Y notices that there is a lot of pollution happening in the society which affects the lungs of the people very badly and causes disease in the body. In this situation the company can do something to reduce the pollution in the society to fulfill the responsibility towards the society. To reduce pollution and prevent people from getting sick, the company can install air purifiers at a central location.
If we take another current example then there are many companies which were fulfilling their social responsibility towards the society by helping people at the time of Covid-19. Many organizations built hospitals for Covid-19 patients and many organizations donated money to help people.
Here we will discuss about the activities and examples which are followed by most of the organizations to help the society and fulfill their responsibility towards the society.
1) Money donation in govt. fund and NGOs– This is the most common way to fulfill the responsibility towards the society by donating money to NGOs and Govt. funds. Non-governmental organizations are non-profit organizations that work to help people. The main objective of NGOs is to help people rather than making profit. Government fund is an open account for all the people of the country which is opened by the government so that people can donate, then later the government puts the money of the government fund in the help of other people.
You must have seen the advertisement of Nihar Shanti Amla Oil. In that advertisement, Bollywood actress Vidya Balan is shown saying that one step towards education (ek kadam shiksha ki aur). I’m pretty sure most Indians must have seen that ad. Through that advertisement, the company tries to tell people that they are donating part of their profit to the education sector. And this thing had a great impact on the people and their sales increased.
2) Help in managing waste things– Most of the companies like footwear companies are making shoes through waste material and this thing helps the society a lot in managing the waste material as the companies re-use the waste material in making their products. Although, this thing reduces their manufacturing cost and increases their profits but if we look at the other side of this thing then this thing is helping a lot to the society in managing waste things.
3) Contribution to society through environment– Earlier, the organizations throw all the waste material of their industry into the rivers, and the river water used to get polluted, due to this supply of polluted water was held in every household of the society and this thing cause many problems to people when they drank polluted water. But recently, the organization has found a new way to manage waste materials instead of throwing them in the water. Same happened in gases, whenever industries used to manufacture their product, many harmful gases were produced at the time of production and pollute the environment but now industries try to use less of that product which causes air pollution and they are slowly paying attention to shut it down.