Description Of Corporate Social Responsibility

What is CSR and its Description?
According to the publication ‘Making Good Business Sense’ by Lord Holme and Richard Watts, they defined CSR as: “Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large”. It is a duty of every corporate body to protect the interest of the society at large. The main motive of the business shouldn’t only aim to earn profits but also take interests for the welfare of society and perform its activities within the framework of environmental norms. Companies should voluntarily agree to contribute both socially

The term Corporate Social Responsibility a.k.a CSR was coined in the year 1953. The earliest mention of CSR was in HR Bowen’s Social Responsibilities of the Businessman who is undoubtedly the “Father of Corporate Social Responsibility” because in his publication he said that several hundred businesses were vital centres of power and decision making processes and they have had major influences and touched lives of many citizens. There is no acknowledgement of Business Woman probably meaning women weren’t involved.
Bowen’s initial definition of the social responsibilities of businessmen was “It refers to the obligations of businessmen to pursue those policies, to make those decisions, or to follow those lines of action which are desirable in terms of the objectives and values of our society”
Another interesting mention in his publication was CSR or the “social consciousness,” of managers meant that Businessmen were responsible for the consequences of their actions in a sphere somewhat wider than that covered by their profit-and-loss statements. And not to my surprise, 93.5% of Businessmen responding agreed to this

Nike has understood that very clearly and in turn it gives back A LOT. They have had huge impacts on the people they’re working with or providing services to.

They want to create long term positive changes so that everyone can get access to sport, the employees and partners support communities in which all of us live in! They have spent more than 52.7 million dollars investing in community all over the world alone. The introduction of their ‘WE portal’ has brought all their employees together to do activities involving community, volunteering and service. Due to this, employees are so satisfied that they have voluntarily contributed about 1.4 million dollars in the year 2013 from 1.1 million dollars in 2012.

They take involve themselves in disaster reliefs, donating money in millions, rebuilding houses, distributing essential supplies and donating meals to the needy after the after-effects of a disastrous natural calamity. For example they used their own 2-million dollars to help in rebuilding after the destructing damage caused to the US east coast by the Superstorm Sandy.

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