Question

why companies undertke CSR and its importance

Answer 1

Solution. When an organization or a company decides to run a business it sets a pre-determined objective of meeting profits. In order to sustain in today's competitive economic market, companies undertake Corporate Social Responsibility(CSR).

CSR focuses on meeting companies objective keeping in mind sustainable development, social and economic governance and responsibilty. It is an ethical practice that encompasses activities that give back to society as resources are scarce. Following are the importances of incorporating CSR:

1. It helps to seek stakeholder's interests by providing improved and promising company image and data.

2. It provides a promising picture of company's activities while operating business activities over rival companies.

3. It provides new sustainable ways of operating business activities thereby cost efficient along with increased employee engagement.