Current State Of Csr Ethical Policies - 2506 Words

Current State of CSR Ethical Policies CSR is generally a voluntary effort made by companies to please their stakeholders by addressing socio-economic and environmental issues in the community. This phenomena has been on the rise lately with increasing efforts from managers, owners, investors and even governments to a certain extent (Okpara, J., Idowu, S., 2003). This effort, also known as ‘corporate citizenship’ can also be seen as an opportunity to maximize an organization’s accountability and transparency while giving them an opportunity to improve their perception in the eyes of the consumer. This perspective of CSR is meant to be viewed as an effort to drive the private sector to take part in community related developmental†¦show more content†¦Hence many companies are reaching out to renowned social media outlets to mobilize people for a cause. * Many corporations believe that a diverse C-Suite or board of directors will help in achieving the full potential of that company and fulfill their social responsibility. In an effort to get diverse perspectives, experience, backgrounds and expertise, there is a growing trend to diversify the C-Suite. * Many growing markets like Indonesia are following the example set by markets such as India, where companies have to make a minimum societal investment. This template is also being implemented in European and South American countries. Hence, companies with growing international operations have to be aware of these policies. * Another major focus of various companies has been that of climate change and reducing their carbon footprint. Companies have been collaborating with governments to address these issues and set up initiatives to tackle them. Various companies are also striving to not only reduce their environmental footprint, but also to come up with a reliable system to measure it. * Issues of human rights are constantly climbing up the business agenda. With various governments encouraging companies to take part in tackling these issues both domestically and globally, one can see