CSR activities examples for a company, it has been established as a common demand that; they need to do some responsibilities known as Corporate Social Responsibility [CSR]. These responsibilities are classified into 4 major types. These are environmental, philanthropic, ethical, and economic ones. Here I intended to explain in a nutshell.
Types of Corporate Social Responsibility
It clarifies the environmental responsibility of a company that comes to light with the behavior of that company. Companies need to prove their conciseness of environmental challenges.
It’s a more practiced form of corporate social responsibility. Companies can perform their environmental responsibility in several ways, likewise, mitigating challenges of pollution, greenhouse effect reduction, renewable energy, water resource alternation, waste recycling, etc.
Ethical responsibility is related to practices of ethical values in labor engagement, work, and payment equality, ethical trade practice, abolishment of child labor, etc. Actually, it’s more concerned with human rights. In this type, corporations try to probe that they are operating their business in an ethical way.
It occurs not only with employees but also with all stakeholders, like leaders, investors, suppliers, and customers. Companies can ensure this one way by, not purchasing slavery or child labor products.
Philanthropic types concern enough with working for a better world to live in. This can perform working together for education expansion funding, contributing health services, donations, enhancing beautification support, etc.
Companies often spend some percent of their profit doing philanthropic responsibility.
Think about Bill & Melinda Gates Foundation, they established this foundation for charity works as philanthropic responsibility.
Economic responsibility covers all the responsibilities enlisted above to ensure the betterment of socioeconomic and environmental causes. The company has to get a perfect way of doing a profit without imposing a negative impact on mass people, the environment, and society. In the decision-making situation, companies need extra caution for this responsibility.
What is the main purpose of CSR Activities?
It’s such a costly responsibility that backs your interest eventually. In this competitive market atmosphere, you have the urgency to win the mind of the people where you make a profit.
CSR can be the alternative and a sustainable way to achieve this. It’s the time for tightening relationships with customers. If CSR can be away, we need to look at what’s the main purpose of CSR?
Enlisting some points to understand shortly of CSR Activities Examples:-
- Profit-making with responsibility.
- Acknowledge and practice social responsibility.
- Operating production eco-friendly.
- Promote and practice ethical trade with both peers and customers.
- Marketing tools affecting both business and society.
CSR Activities with Win & Win Position:
For Ming a CSR division in a company, in some cases, is considered an expense of money. But it’s not a calculating maxim at all.
Moreover, with this company get closed with employees, customers and regulatory bodies of govt. When a corporation had to spend a vast portion on advertising for branding and marketing, it can alleviate these. Loyal customer base will enhance getting long-term growth in business.
So CSR is Not a costly investment for the future, actually.
How does CSR Impact company branding?
Some companies implied unlawful ways to make a profit where ethics and dutifulness towards society became minor. But the emergence of CSR some started using this as a branding strategy only other than performing responsibility.
But CSR can impact both to upgrade and degrade your brand image. To establish a loyal customers base, sustainable business conditions, public perception trustworthiness, and transparency in total CSR strategy is mandatory.
It’s not wise to take customers as foolish buyers at this time. You can read more on this topic like Branding Inspiration in Future here.
How can CSR Activities help Society?
In a realistic sense, a business operates most of its deeds for profit. But CSR is the way through which the community can see its humanitarian face.
It connects a company to the people and enhances engagement for a long-time. The benefit of CSR responsibilities impacts a greater portion of people.
A CSR activity of a company depends on the nature of its business that paves the way for that company in which sector they perform. Some companies choose educational development.
With this, poor and slum-dwellers can go in touch with education. Furthermore, total communities become beneficiaries of these developments.
By reading this article you also know about CSR practices in India, Malaysia and Bangladesh. We can think about, a company taking steps for renewable energy and waste recycling.
It can be an epoch-making step for mankind and an Inhabitable planet for generations. So in all, shorts of steps to effectuate CSR will help mankind and society eventually.
Is CSR Good or Bad?
In some cases, the CSR activities examples of a company made the company either a responsible business neighbor of its customers or an evil employer.
Doing with a week CSR strategy that hasn’t had much studied and planed brings these kinds of shortcomings. If a company with limited resources announces an ambitious budget for its CSR can face humiliation.
Positive and negative impacts of CSR as explained, corporations should be cautious enough for this. Good and bad are highly related to the performance of mechanisms together.
This CSR can be a better way that can utilize govt. to face challenges of Sustainable Development Goal (SDG) and Millennium Development Goal (MDG).[Written by G K M Meskat Chowdhury, Student of Journalism, at University of Rajshahi]