Question

QUESTION 3

In contemporary times, almost all organizations are engaged in Corporate Social Responsibility (CSR). Discuss five (5) factors that propel them to engage in CSR.

Answer 1

5 factors which propel an organisation to engage into corporate social responsibility are as follows-

A. Government Intervention-The Corporate Social Responsibility should be followed to avoid high probability of government intervention into various legal procedure in organisational operations so there is a need for maintenance of high level of Corporate social responsibility so that government rules and regulations can be followed and there is less scope for a government intervention.

B. Trade unions and other factor which can propel an organisation to maintain a high level of Corporate social responsibility because they regularly put on their own agenda of protection of interest of labourers and onus is on the organisation to be highly ethical and social in nature to protect interest of various employees.

.C. Public security is another reason why there is an high need of emergence of corporate social responsibility in the organisation as a whole because there is high need for securing the interest of public as a whole.

D. Market forces are used to decide the level of corporate social responsibility in an organisation because they keep on forcing government to adopt higher level of Corporate standards and that helps the organisation to follow the corporate social responsibility.

E.there are various kinds of customers considerations like redressal of grievances of customer in quick time in order to adopt a high level of Corporate social responsibility so that the interest of various consumers can be protected.