Corporate Social Responsibility: Role and Importance in the Present World

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MANAGING ACROSS BORDER 1
Corporate Social Responsibility
Introduction
CSR or corporate social responsibility is considered as the ethical responsibility which is
being played by the organizations in present business world. From business point of view,
CSR activities are linked with the aim of long term profit by gaining the trust of the
community in which organization is currently operating. In addition, it is also linked with the
objective of creating positive public relationships with the help of using ethical standards in
the business operations (Lins, Servaes and Tamayo, 2017). CSR is the activities which are
focused on the welfare of the society by bonding the organization to take active role in this
process. But as per business market in present time, CSR activity it not sufficient for
organizations to create a profit in fact it impacts their profit margin because the capital which
they are investing on CSR activities are taken from profit margin of the organizations. CSR
activities motivate the organization to maintain a positive work environment within and
outside the organization which helps them to develop a positive image in the business market
(Saeidi et al., 2015). Image of organization is connected with the entire stakeholder such as
employees, stockholder and therefore any negative activity can impact the performance of
the organization directly.
Role of corporate social responsibility in the present world
Corporate social responsibility means that organizations are bond to take necessary steps
which ensure the positive social and surrounding links with the business operations which
has directly impact on the stakeholders of the organization. CSR plays a very important role
in maintaining ethical culture in the workplace of the organization by encouraging employee
to keep them connected with social and ethical activities (Flammer, 2015). In addition, CSR
activities also motivates employees to inform the management of the organization to keep
informing about unethical practices going on in the organization setting. CSR activities act as
brand building for every organization in the business market on the global level by promoting
positive message in the society that particular organization is very concern about the
improvement of the society. One of the best examples is Nike organization in which CSR
strategy plays very active role related to water usage and purification. As per the study, it has
been found that water purity and reducing water level has become one of the major issues on
the global level. This issue is being understood by Nike organization and therefore they have
focused their interest reducing water footprints in their business operations (Khan, 2017).
Under CRS activity, Nike organization has introduced water reuse in their all plants in order
to maintain the water ground level in the society in which they are operating. It has been very
common that most of the water wastage happens in the manufacturing operation. In this
situation, Nike organization has used innovative technology which has helped them to