Corporate Social Responsibility: Applicability and Practices

Abstract

Now more than ever, there is a growing importance for companies to ramp up their focus on social responsibility. "Social responsibility," in simple terms, means a business’s obligation to pursue achievable and good long-term goals for its people and the world at large. We have observed a number of successful companies today that use social responsibility as a way to give back to society and thank customers for their loyalty. This can come in the form of projects, movements or empowerment of individuals. Whatever form these corporate ventures take, they are definitely a win for both the company and the community alike. We’ve also seen that some companies are taking the lead and venturing into humanitarian projects ranging from the construction of roads to the alleviation of poverty. Key words: social responsibility, humanitarian, alleviation of poverty.