Nature of Corporate Social Responsibility

06/05/2021 1 By indiafreenotes
  1. Environment

This area involves the environmental aspects of production, covering pollution control in the conduct of business operations, prevention or repair of damage to the environment resulting from processing of natural resources and the conservation of natural resources.

Corporate social objectives are to be found in the abatement of the negative external social effects of industrial production, and adopting more efficient technologies to minimize the use of irreplaceable resources and the production of waste.

  1. Energy

This area covers conservation of energy in the conduct of business operations and increasing the energy efficiency of the company’s products.

  1. Fair Business Practices

This area concerns the relationship of the company to special interest groups.

In particular it deals with:

  • Employment of minorities
  • Advancement of minorities
  • Employment of women
  • Employment of other special interest groups
  • Support for minority businesses
  • Socially responsible practices abroad.
  1. Human Resources

This area concerns the impact of organizational activities on the people who constitute the human resources of the organization.

These activities include:

  • Recruiting practices
  • Training programs
  • Experience building -job rotation
  • Job enrichment
  • Wage and salary levels
  • Fringe benefit plans
  • Congruence of employee and organizational goals
  • Mutual trust and confidence
  • Job security, stability of workforce, layoff and recall practices
  • Transfer and promotion policies
  • Occupational health
  1. Community Development

This area involves community activities, health-related activities, education and the arts and other community activity disclosures.

  1. Products

This area concerns the qualitative aspects of the products, for example their utility, life- durability, safety and serviceability, as well as their effect on pollution. Moreover, it includes customer satisfaction, truthfulness in advertising, completeness and clarity of labelling and packaging. Many of these considerations are important already from a marketing point of view. It is clear, however, that the social responsibility aspect of the product contribution extends beyond what is advantageous from a marketing angle.