Question

Explain the following statement by Crane and Matten (2004): “The first layer of CSR

(economic responsibilities) is the basis for all the subsequent responsibilities, which

rest on this (ideally) solid basis”. How does this apply to your organization? "My organization is a hospital"

Answer 1

The statement is true and it essentially means that for fulfilling the CSR responsibilities we must first gather the funds and allocate the same so as it have a economic basis to the CSR activity. Once the economic solid base is obtained then the other activities in CSR can be initiated and all the subsequent responsibilities and activities can be conducted in a manner that helps the organization in contributing effectively towards the society

This applies to my organization which is a hospital as the hospital based on ts yearly or annual generated revenue allocates the funds each year towards CSR. This solid funds especial allocated for CSR purposes helps the hospital as an organization to conducts awareness drives and camps, free medical care camps, provide medical helps to economically weaker section, provide concessions and structure policy and equipment so as to help fulfill all the activities and CSR responsibilities of the hospital. So all these activities require a strong and firm commitment towards the economic responsibilities of the organization and based on that all the subsequent responsibilities are met easily.