Social Responsibility Research Paper Example | Topics and Well Written Essays - 1250 words

Social Responsibility - Research Paper Example Organizations that follow CSR policies recognize their responsibility towards the society in which they operate. Although they operate with profit motives, their sole objective behind running the business is not maximizing profit. A company cannot run without the support of the community and it can only grow when it takes such steps that would improvise the status of the society as a whole. Every organization feels an obligation towards fulfilling the demands and well being of its customers, welfare of its employees, profit of shareholders and the interests of the whole community (Hassan & Harahap, 2010). Besides, the company also has a responsibility towards the environment. They have to make ecological considerations in all their operations. It is a big responsibility for socially responsible organizations to reduce their ecological footprints and make more environmentally friendly activities. Managers that develop their business policies by synchronizing their objectives with prin ciples related to these aspects, finds success in making socially responsible moves. Social responsibility of corporate organizations Concern towards CSR is rising fast among the companies operating in the gulf countries. A number of ways have been devised to make the socially concerned organizations operate in socially responsible way. Research shows that organizations in UAE base their CSR activities on the four pillars strategic governance, human capital, shareholder capital and environment (Hancock, 2005). The companies dedicate a portion of their profit for the funding of art and culture in different countries, for providing academic scholarship to less advantaged students belonging to the grass root level in the society and for supporting any type of community-building initiative (Du, 2013). The theory of CSR links closely with the concept of Sustainable Development (Shahwan & Hassan, 2013). According to this concept, enterprises are supposed to make their decisions on the bas is of short term financial factors as well as long term factors that have deep environmental consequences. It is strongly believed that while short term profits or dividends allow the company to occupy good market position in the short run, in the long run, companies can become successful by making holistic moves towards the development of the entire society in which it is operating (Hassan, 2009). For achieving this end, organizations have to look after the environmental cost of their activities. Four important arenas that companies should look after while making socially responsible action, besides presentation of environment are human rights, labor rights and anti corruption. CSR practices in UAE Organizations based in UAE are actively thinking about their CSR initiatives. These are aimed at a number of purposes. Some of the most important objectives of practicing CSR activities by the companies are building community relationships, enhancing living standards of the population of the country and also helping the people of the country defend themselves against natural calamities. Various companies in the Emirates take socially responsible actions in the form of â€Å"social marketing projects† (Flynn, 2012). Corporate managers in the country demonstrate high level of responsibility towards the society.