Question

Organizations around the globe are being challenged to take more responsibility for how their operations impact local communities, society as a whole, and the environment.

• Do you agree or disagree with these increasing challenges? Why or why not?
• Also, share one example of an organization that has risen to the challenge. Include one reference that will allow your peers to learn more about your example.

Can you please put the answer in your own words and also can be typed out I have bad eyes thank you

Answer 1

statement given is true.

In the current era of high cutthrought competitions, the organisations are over the clock dedicated in making more and more profits.Are the top management of any organistion alone be able to create such a huge enterprise? NO. They need support of various people to accomplish such goals of organisation. These includes Employees, Government and stakeholders.

The stakeholders are one who has external interest in any organisation for eg suppliers, customers, local population.

When the stakeholder support an organisation for smooth running of its business, they expects something from organisation and also it duty of org to cater it responsibility towadrs its stakeholders.

This concept coined the term Corporate Social Responsibility (CSR). Where the company took initiative to upbring the local communities who are supporting them.

Is it nessecary for an org to fulfill its CSR?

Yes, because of following reasons.

1. Support factor- it is the local people who are employed in an org at lowest hirearchy, if an org doesn't care about overall development of their community then they may migrate from the area or stop supporting the organisation. This could call potential loss in organtisation due to downtime face by it.

Generally many org construct residences near by factories, operate schools for children of employees, organise family trips for them, maintaing Parks, contructing hospitals etc.

2. Corporate Reputation.

Take eg of yourself, you have two options to join. Org A will give you only salary in cash and org B will give you apart from salary free residence, medical facilities, subsidised education to children. Which one will you join? Ifcourse the org B even if it pays you marginally low salary then A.

The organistions these days are competiting each other not only in markets but also out of mkt in terms of how much they are responsible towards their society. Many Forums on international level awarded companies around the globe who did excellent jobs in terms of CSR. This create Asset for an org as it increase it value between the competitior and help to gain advantange financiallyto some extent.

3. Legal requirements

In many countries like Britian, India, south Africa the law which given the comapnies has been ammended to incorporate CSR. They mandate that a company which isbearnjng revenues above an amount must park the certain percent of profit in a seperate fund which could only be used for CSR purpose. The Org which violates such provisions are penalised with huge amount.

The Benchmark of Revenue, Percentage of transfer of funds and penalty amount varies with each country as per their local scenario.

Few comapanies which are doing excellent in CSR are as follows.

WIPRO- it is an indian IT giant who in last few years spended more money on primary education than the govt of the state of india in which thery operate.

Microsoft- everyone knows about it. It directly or indirectly influencinf life of each and everyone in this world. The org via their bill and melinda gates foundation donates huge amount to many countries for eradication of polio, awareness of Aids, education etc as they make money from almost all the countries.