Corporate Social responsibility is also Known as “Corporate Citizenship”, “Social Performance” Or “Sustainable responsible Business”. CSR is the process with a aim to embrace responsibility for the company’s action and encourage a positive impact through its activities on the environment, consumers , employees, communities , stakeholders.
Each business entity should formulate a CSR policy to give its strategic planning and provide a roadmap for its CSR initiatives , which should be an integral part of overall business policy and aligned with its business goals. The policy should be framed with the participation of various level executive and should be approved by the board.
Core Elements Of CSR :
- Care For All Stakeholders :The companies should respect the interests of, and be responsive towards all stakeholders including shareholders, employees , customer , supplier,, project affected people and society at large. And create value for all of them.
- Ethical Functioning :Their governance system should be underpinned by ethics, transparency , and accountability. They should not engaged in business practice that are abusive , unfair , or anti competitive.
- Respect for Worker’s Right and Welfare :Companies should provide a workplace environment that is safe , hygienic and humane and which uploads the dignity of the employees. They should provide all the employees with access to training and development of necessary skills for career advancement on an equal and non discriminatory basis.
- Respect For Human Rights :Companies should respect human rights for all and avoid complicity with human rights abuses by them or third party.
- Respect for environment :Companies should take measure to check and prevent pollution , recycle , manage , and reduce waste , should manage natural resources in sustainable manner and ensure optimum use of resources like land, water etc.
- Activities For Social & Inclusive Development :Depending upon their core competency and business interest , company should undertake activities for economic and social development of communities and geographical areas , particularly in the vicinity of their opertations.
Author:- Ms. Shaziya naz
