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CSR - a social development tool

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CSR - is a very essential development tool for companies.


As the term “CSR” is usedcontinually, many complementary and overlapping concepts, such as corporatecitizenship, business ethics, stakeholder management and sustainability, haveemerged. A widely cited definition of CSR in the business and social contexthas been given by the European Union (EU). It describes CSR as “the concept thatan enterprise is accountable for its impact on all relevant stakeholders. It isthe continuing commitment by business to behave fairly and responsibly, andcontribute to economic development while improving the quality of life of thework force and their families as well as of the local community and society atlarge”

 

In other words, CSR refers toensuring the success of the business by inclusion of social and environmental considerationsinto a company’s operations. It means satisfying your shareholders’ and customers’demands while also managing the expectation of other stakeholders such as employees,suppliers and the community at large. It also means contributing positively tosociety and managing your organization’s environmental impact. Hence, CSR is a contributionto sustainable development, implying the way a company balances its economic,environmental and social objectives while addressing stakeholder expectationsand enhancing shareholder value. CSR not only includes the activities that acompany undertakes in order to utilize their profit to enable social andenvironmental development, but also includes the methods that a company employsin order to earn these profits including socially responsible investments, andtransparency to various stakeholders among others. Realizing the importance andthe long-term benefit of being socially responsible many companies haveincorporated socially responsible business practices. The basic objective ofCSR is to maximize the company’s overall impact on the society and stakeholderswhile considering environment and overall sustainability.


At Dhara we actively involve in variousprojects and programs as implementation partner and help organizationdeveloping their CSR roadmap. We assist companies in creating proper socialvalue chains by means of robust implementation of their CSR projects and alsohelp in annual impact assessment and reporting.