Over decades, corporates have been known as a source of business building and revenue generating for shareholders and an opportunity for locals to found appropriate working positions. It was nothing more for corporate but to generate profit. With time, business organizations started to participate in community sharing in terms of philanthropy, that is to say, giving direct money and donation to community.
Gradually, business industry and services went to the next development step in terms of exporting products or services beyond national boarders, manufacture in a cheap affordable markets and looking for overseas outsourcing partners, and they called all of these “Globalization”. However, with more development of globalization there was more development of responsibility and ethical practice to keep corporate’s morals, standards, customer loyalty and, for sure, branding. Here it evolved the Corporate Social Responsibility or the CSR.
Since 1960s and CSR has moved into recognition, development and changing concept. Trying to find a proper definition and even new identity name, ethicists and business professionals still questioning and shopping for terms such as Corporate Sustainability, Sustainable Business, Corporate Citizenship and still more terms and names are generated over time. I personally support and do admire the “Corporate Citizenship” as it reflects on business as a living responsible identity with rights and account abilities toward its family, community and the location it lives in.
To simplify define the CSR, we can use one of its terms that is the “Triple Bottom Line” or “The Three P’s: Profit, Plant and People” or the “Three E’s: Economy, Ecology and Equity”. So CSR is every corporate practice and initiative that positively contributes to people in and out the corporate, positively influences the environment and finally reflects profitability and branding to business.
CSR as a concept has went into different development stages started from initiatives to daily practices, from voluntary to responsibility then commitment and finally we are hoping to reach to global obligations.
Therefore, to start your journey in the world of sustainability and corporate responsibility, review your current practices and initiatives such as the corporate governance, morals & ethics, law commitment, performance reporting & transparency and customer related practices and satisfaction. In addition, Review your conditions of work such as: working hours, wages, human rights, health and safety, and anti-discrimination practices. More importantly, revise your company impact on the environment in terms of practices related to environmental stewardship, sustainable development and use of renewable resources.
To Conclude, CSR is a Triple winner concept, it is about making profit not spending, people get value and Mother Nature is preserved. It is your turn now, be ready and book your ticket to your Sustainability Journey.