Corporate Social Responsibility (CSR), is a type of self-regulation that demonstrates a company’s accountability and commitment to advancing the social and environmental; well-being of communities and society. CSR is not limited to large companies. Now even small companies have started practicing it.
Companies slowly have started recognizing the need for CSR. It is equally important as social inequalities and climate issues.
For successful CSR implementation, it is essential to establish the proper connection between the central CSR department and the functional departments where CSR practices are to be implemented.
So, here is a 3 stage process from which organizations can make progress in their CSR operations:
- Centralization and Coalescence: For implementing CSR strategies in the organization the CSR department needs to be in charge. The CSR department will be crucial in fostering momentum and creating a consolidated plan and vision for the entire business once leadership has committed to CSR goals. At the beginning for every organization, while implementing CSR strategies, the CSR department plays a very relevant role. Besides centralization coalescing is equally important. The central CSR department can decide the best method to adapt its strategy in these various circumstances by gathering knowledge about the particular needs and goals of various departments, and developing connections with these stakeholders lays a crucial basis for future execution
- Organizing and Decentralizing: After developing the right strategy and coalescing key information, the next very important step is organizing and decentralizing. Functional departments might take a more active role at this stage in implementing CSR practices into the operations.
- Retrenchment and Consultation: According to research, the most mature CSR operations are those who had successfully transferred ownership to functional departments and who had the least resources. At this stage, the CSR departments can still provide beneficial strategic advice and knowledge of new trends, such as new climate risks or requirements for cyber responsibility.
HOW IMPLEMENTING CORPORATE SOCIAL RESPONSIBILITY AIDS TO THE PROFIT OF THE COMPANY:
- The employment decisions are based on the commitments and behaviors related to the corporate mission.
- Based on the company’ commitments and activities related to the corporate purpose, the customers make their purchases.
- Investors base their decisions on the goals and actions of the company toward corporate responsibility.
- The mission and operations of your company are inextricably related to its reputation.
Reference: