1CORPORATE SOCIAL RESPONSIBILITY The term ‘Corporate Social Responsibility’, refers to a management strategy adopted by companies to integrate environmental aswell as social concerns in the business activities conducted by them. The objectives of an organization behind incorporatingthe strategies of Corporate Social responsibility, is to remain accountable to people serving the organization as well as the society (Carroll and Shabana, 2010). Again, the CSR initiatives taken by an organization assist the organization to estimate the positive impact created by that organization on the targeted customers, other stakeholders as well as the society (Porter and Kramer 2006).This study aims to delve deep into the opportunities that corporate social responsibility createsforanorganization.Further,thisstudythrowslightontheCorporateSocial Responsibility principles of Deloitte and provides some recommendations regarding Sustainable Development Goals (Deloitte.com, 2019). Deloitte is one of the popular multinational services networks of the world. The domain of services provides by Deloitte includes-tax consulting, accounting, Advisory services for enterprise risk, finance and investment. The headquarters of Deloitte is situated in London. Since it foundation in the year 1845, Deloitte has been able to develop itself gradually into one of largest accounting organization serving worldwide. Presently, Deloitte is counted among the leading professional service providers of the world. Richard, the CEO of Deloitte Australia, believes that, the achievement of a significant position among the world’s renowned financial service providers, has brought to them the opportunities to enhance the brand value and fulfilling theirdutiestothesociety.Hence,DeloitteconsidersthatperformingCorporateSocial Responsibility will enable them to contribute to the betterment of the society and popularizing their brand to a larger section of the customers (Deloitte.com 2019).
2CORPORATE SOCIAL RESPONSIBILITY The objective of Deloitte to perform CSR \activities is to give back a share of their profit to the society in the form of their goodwill. Again, another purpose of Deloitte’s inclination towards Corporate Social Responsibilities is to cast upon positive impacts on its stakeholders. The company also considers their accountability to the environment as one of the prime objectivestoperformCorporateSocialResponsibilities,byinvestingintoenvironment protection programs and adopting eco-friendly production process.(Deloitte.com 2019). There are several opportunities for CSR in Deloitte which through which the company can cast upon greatest impact on the society. The opportunities for CSR activities were generating education and employment, making the people of the communities aware of the process of healthy living and make provision for medical benefits. In order to utilize these opportunitiesforcorporatesocialresponsibilities,thecompanymaytargetsomeofthe sustainable development goals. Firstly, eradication of poverty and make provision for the food security for the people living below the poverty level as stipulated by United Nations. Secondly, the promotion of healthy living as well as well-being for the people of all ages, educating people of communities, low-income groups about health and hygiene. Thirdly, to make provision for an inclusive as well as equitable quality of education along with the opportunities for life-long learning. Fourthly, fostering women empowerment and gender equality. As the fifth goal the management of the water as well as sanitation can be mentioned. As the sixth goal, the promotionofeconomicgrowthaswellasemploymentgenerationcanbespecified (Deloitte.com, 2019). The suggestion for the sustainable development goals, Deloitte may adopt, can be justified, with respect to the several aspects corporate social responsibility activities initiated by Deloitte and their positive impacts on the company. The Corporate Social Responsibility policies
3CORPORATE SOCIAL RESPONSIBILITY of Deloitte have been entwined with community involvement programs. In these community involvementprogramsthecompanyattemptstofostermeasurabletransformationinthe communities. This includes investment in educating the people of the community about health and hygiene and drives them towards a healthier lifestyle, investing in literacy generation programs, providing financial benefits for the overall development of the communities. Again, employment generation as well as vocational skill development programs is other aspects that the Corporate Social Responsibility strategies of Deloitte focus on (Deloitte.com2019). In this context, Deloitte conglomerates with several community organizations and puts a great effort to foster the development of the individuals belonging to the lower strata of the economy, as well as backward communities. There are plenty of benefits of the Corporate Social Responsibility activities conducted by Deloitte. Firstly, the construction of a positive, impactful and sustainable brand image. Secondly, the ability of the company to represent itself as a socially, morally as well as ethically responsible organization, in front of its customers. Thirdly, reach out to a lerger section of the society (Deloitte.com2019). Hence, in the conclusion, it can be said that, the Corporate Social Responsibility can be considered as the business framework, which can be utilized as an instrument, in order to attain overall sustainability and efficiency (Galbreath 2010). The initiatives taken under Corporate Social Responsibility by Deloitte are the set of prudent strategies that will ensure substantial growth of the company in the long run.
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4CORPORATE SOCIAL RESPONSIBILITY References Carroll,A.B.andShabana,K.M.,2010.Thebusinesscaseforcorporatesocial responsibility: A review of concepts, research and practice.International journal of management reviews,12(1), pp.85-105. Deloitte.com (2019).Corporate Responsibility. [online] Deloitte Ireland. Available at: https://www2.deloitte.com/ie/en/pages/about-deloitte/articles/corporate-social- responsibility-report.html [Accessed 1 Sep. 2019]. Deloitte.com (2019).Corporate Social Responsibility Policy. [online] Available at: Galbreath, J., 2010. How does corporate social responsibility benefit firms? Evidence from Australia.European Business Review,22(4), pp.411-431. https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/ gx_SDGs_Deloitte.pdf [Accessed 1 Sep. 2019]. Porter, M.E. and Kramer, M.R., 2006. Strategy and society: the link between corporate social responsibility and competitive advantage.Harvard business review,84(12), pp.78- 92.