Social responsibility an ethical theory and it’s “decisions and actions taken for reasons at least partially beyond the firm’s direct economic or technical interest.” It’s a giving back to society.
It involves developing businesses that have such a positive impact and a positive relationship with the society in which they operate in. In a lot of companies, like those with the “green” policies, social responsibility is an important and integral part of their business model.
We might define socially responsible behavior when a corporate provides its employees with a decent living wage relative to local cost of living which defined by some independent organization, for example, The United Nations. Or we might define socially responsible behavior when the corporate help or does not ruin the local environment and jeopardize the community’s health as measured against internationally accepted standards of environmental quality or health. On the other hand, we might use more subjective criteria and adopt the per specie of the stakeholders who interact with a corporation.
Corporate behavior is socially responsible if it meets these expectations regarding appropriate and acceptable corporate behavior, however they choose to define it.
Ways to practice CSR
Many companies now focus on and practice a few broad categories of CSR because they realized the importance of their actions and behaviors to their customers and it builds a strong relationship with them in a long term:
1. Environmental efforts:
it focusses on corporate social responsibility to the environment. Businesses big or small have a large carbon footprint. Any changes they can think of to reduce those footprints (that they are responsible for) are considered both good for the company and society.
Donating products, money or services for social causes and benefit. Big companies tend to have important resources that can benefit the unprivileged, like local community programs.
3. Ethical labor practices:
Treating employees fairly and ethically. Companies can also practice their corporate social responsibility in situations like when a business operate in an international location with labor laws that are unfair.
Doing charity work and events without expecting anything in return. Companies could express their worry for specific problems, and issues and support for certain organizations. Being at a lot of volunteer events says a lot about a company’s values.
The term social responsibility is such a brilliant term; it means a thing, but not always the same, to everybody. To some people it conveys the concept of legal liability or responsibility; to some others, it means socially responsible behavior in an ethical way or concept; to still others, the meaning conveyed is that of “responsible for” in a causal mode; many simply equate it with charitable events; some take it to mean socially awake; many of those who embrace it most fervently see it as an absolute synonym for “legitimacy,” in the context of “belonging” or being proper or even valid; a few see it as a sort of fiduciary duty imposing higher standards of behavior on businessmen than on
citizens at large.
Social Responsibility in Practice
-in Saudi Arabia.
Both AlOtahim and Panda, local stores in Saudi Arabia, launched a biodegradable bag in their store around the country to reduce the use of plastic. “Biodegradable bags are bags that are capable of being decomposed by bacteria or other living organisms.” And As we all know Plastic is known for having such a harmful effect on the environment because it cannot be recycled, and it stays on the earth forever.
Yousef Abdullatif Jameel Co.
This newly created company will develop a sustainable, socially responsible properties throughout Saudi Arabia.
It is passionate about creating the design and construction processes to deliver sustainable energy-efficient developments for people who need it.
The Savola Group is a multi-award-winning pioneer of everything socially responsible and green in Saudi Arabia. It recently made five agreements with leading social organizations in Jeddah to support key programmed in training, research, and equipping labs and training classes as part of ‘Savola Bridges,’ the group’s social responsibility umbrella.
Amazon said it would raise the minimum wage to $15 an hour for its United States employees.
Starbucks would stop using a disposable plastic straw by 2020.