The philosophy and strategy of Corporate Social Responsibility
Nowadays, when business conduction has switched over to the completely different conditions as a social orientation rather than seeking a profit from companies’ growth, it is significant to distinguish the philosophy of social responsibility, especially within the corporate context.
When researching CSR philosophy and strategy, the major reasons why companies attend to CSR implementation are the following: globalization and active competition, leading companies’ growing influence, economic growth and cultural advance, development of civil activity, competitive activity in order to gain reputation and talented staff etc. Among the variety approaches to the CSR definition, the most successfully, as for me, corporate social responsibility can be described as businesses’ execution of social commitments towards stakeholders, which are the society, government, employees, customers and ecology. The fundamental ruling of CSR philosophy is establishing and leading a business within the long-term sustainable strategy on a voluntary basis, which means that companies should initiate the CSR programs by themselves regardless of the force of circumstances. According to that, leaders should maintain the three major aspects – outputting of products of higher quality ever possible; providing excellent working conditions and raising the salary for the staff; collaboration with an organization in terms of social development and philanthropy; and contributing to the nature protection using environmentally appropriate technology. I consider the CSR principle as managing the society and material incentives simultaneously.
Following the above-mentioned philosophy, the CSR strategy reasonable for me includes the formation of cooperation forms and instruments in consideration of interests of the different stakeholders through the fostering of discussions, exchange of views and dialogues. The significant point is budgeting for investing in the development of young generation, resolving pollution problems and creating motivational plans for employees, motivating their productivity, using material and nonfinancial incentives. Beyond all doubt, the major goal of companies’ establishing is financial gain, however, the creation of the socially responsible business in order to improve the future is worthy of praise.
