People and Organizations: Principles and Practice in Global Contexts


The importance of Corporate Social Responsibility (CSR)

Source: http://www.sguardian.com
Some organizations do their business ethically, social friendly & beneficially for the society. All organizations should be contributed to economic development of the country, its environment, quality of working life & local society while growing individually & acting ethically.

CSR is a concept, which considers the society by taking responsibility for the results of their transactions on clients, dealers, share holders & environment. Behavior of CSR has been identified differently in different places & interpreted differently by different people (Boxenbaum, 2004). Kotler & Lee (2005) has been explained CSR as a commitment to enhance the well being of community through business practices & contribution of corporate resources. CSR project gives lot of benefits to the organization (Hillman & Keim, 2001). These benefits are enhanced the reputation of the company & helps to develop organizational capabilities (Sharma & Vredenburg, (1998). CSR can secure the market position of the company & also creates new business opportunities (Maignan, Ferrell & Hult, 1999).

Lot of organization in Sri Lanka especially private organization conducts CSR projects annually. Planting of trees, knowledge sharing projects, diseases prevention programme, drinking water projects for drought areas,  donating books & equipment are the few of some CSR projects, which are commonly conducted by the organizations.

Small & medium size organizations are less socially responsible due to limitation of resources. But in large organizations there are dedicated departments & staff members for CSR. As an example marketing Department of NDB Bank organize separate CSR projects for the year. One is organize as a major CSR event & some several projects are organized region wise in order to be act ethically towards the society. Main concern of these projects is to generate benefits for the society & not for the few individuals for long term. In other terms sustainable CSR projects are promoted. Eg. Tree planting projects.  Therefore the purpose of the project is important for the real purpose of CSR.    
Source: https://www.aslp.org
Some organizations are conducted CSR projects only for the marketing purposes. They give huge marketing campaigns for the society but it will not be sustainable. Benefit for the society is limited for a very shorter period of time. They only consider the publicity. Eg. “Wesak Dansal”.
Source: http://www.hirunews.lk


Even though the CSR projects may cost for the organization, financial & other benefits for the company are considerable, while building a very strong brand image & positive contribution to the environment & society. Considering the above the companies should not take these kinds of projects lightly since the same will directly influence for the companies future & finally it will be increased the company’s performance while shouldering for the corporate social responsibility.

References:
Boxenbaum, E. (2004).Institutional innovation processes: A hybridization of institutional logics. Presented at the annual meeting of the Academy of Management, New Orleans.
Hillman, A., & Keim, G. D. (2001). Shareholder value, stakeholder management, & social issues: What is bottom line. Strategic Management Journal.
Sharma, S. & Vredenburg,H. (1998). Proactive corporate environmental strategy & the development competitively valuable organizational capabilities. Strategic Management Journal.
Kotler, P., & Lee, N. (2005). Corporate social responsibility: Doing the most good for your company your cause. Hoboken, NJ:Wiley, 2005.
Maignan, I., Ferrell, O. C.,& Hult, G.T.M. (1999). Corporate citizenship: Cultural antecedents & Business benefits. Journal of the Academy of Marketing Science.

Comments

  1. mbarenukumar.blogspot.comJanuary 1, 2019 at 1:28 PM

    I really like your flow of presenting. Able to aptured new things on the subject.

    ReplyDelete
  2. mbarenukumar.blogspot.comJanuary 1, 2019 at 1:31 PM

    Nice way of writing.

    ReplyDelete
  3. thanuja hettipolaJanuary 2, 2019 at 12:44 AM

    You have highlighted some valuable points..good share and keep it up always

    ReplyDelete
  4. AmithJanuary 2, 2019 at 5:44 AM

    You have highlighted the exact point of CSR
    Nice one

    ReplyDelete
  5. Bandara AdhikariJanuary 2, 2019 at 7:31 AM

    Thanks all for your valuable comments.

    ReplyDelete
  6. ShanikaJanuary 6, 2019 at 7:17 AM

    you have explained very well and attractively about CSR.good job

    ReplyDelete
  7. Aruna AmarasingheJanuary 6, 2019 at 7:24 AM

    Key points are highlighted. Interesting to read

    ReplyDelete
  8. Salitha BandaraJanuary 6, 2019 at 9:16 AM

    Interesting points, good work

    ReplyDelete
  9. UnknownJanuary 6, 2019 at 9:38 PM

    Thank you for such a wonderful article and sharing.

    ReplyDelete

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