Corporate Social Responsibility In Business

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Human Resources are an integral part of the business strategy. Successful business units realize the importance of well-trained and motivated employees so as to achieve the company’s financial goals. The successful Human Resources departments realize the importance of keeping the employees’ focus on the company’s financial goals while providing opportunities for employees’ growth and advancements. Here comes the main role of HR that is formulating the HR strategies which suits the business as well as it helps to empower the employees. The formulation of policy of corporate social responsibility has become an important function of HR. Corporate Social Responsibility (CSR, also called corporate conscience, social performance, or sustainable responsible business/ Responsible Business corporate citizenship,) is a form of corporate self-regulation integrated into a business model. The Corporate Social Responsibility policy functions as a self-regulating mechanism whereby a business tries to monitors and ensures its active compliance with the spirit of the law, ethical standards, and the international norms. The aim of Corporate Social Responsibility is to embrace responsibility for the company's actions and to encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders. It has been considered that to remain in the race of the competition in the market, HR department plays a vital role in forming strategies and policies. Corporate Social Responsibility and empowering the differently abled people is one of the new strategies of HR which are being followed by the organization. The term "corporat... ... middle of paper ... ... Corporate Social Responsibility by Michael E. Porter, a leading authority on competitive strategy and head of the Institute for Strategy and Competitiveness at Harvard Business School; and Mark R. Kramer, Senior Fellow at the Kennedy School at Harvard University and co-founder of FSG Social Impact Advisors. The article provides observations and pertinent examples of companies that have developed deep connections between their business strategies and corporate social responsibility. Many approaches to CSR shaft businesses against society, underlining the costs and limitations of conformity with externally imposed social and environmental standards. CSV acknowledges trade-offs between short-term profitability and social or environmental intention, but focuses more on the opportunities for competitive edge from building a social value proposal into corporate strategy.
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