Yes, that is absolutely true. That's why the concept of CSR (Corporate Social Responsibility) has come up. Many business organizations have already started adopting different  social / environmental standards in line to their activities to effectively comply with their CSR. However, It can not be ignored that adoption of CSR principle involves cost  and that expenditure comes from  their business, better to say from the part of their revenue. Hence, revenue generating activities cannot be overlooked. Therefore it is expected to generate benefits so that it can be recognized as sustainable business practice. Being socially responsible may have some bottom line benefits like CSR enhances brand image,  often draws more consumers within business community, reputation increases ability to attract capital and business partners, decreased operational cost and reduced business risk. A sound CSR approach can help build share value, lower the cost of capital, and ensure better responsiveness to markets.  Practically, adopting an approach of making business organizations understand about benefits and positive effects of being socially responsible, will create an encouraging atmosphere and yield positive result rather than only critisize them. Along with researching on their lagging areas , expert advise  on the ways to overcome those lagging areas will really help businesses and thus will not only benefit their surrounding communities but also benefit all of us.  At the end of the day, we must remember that we have already set off on a voyage by spaceship earth with limited resource. Mutual cooperation at every sector of the society can only help us to use those limited resource judiciously.

Published by

Yes, that is absolutely true. That's why the concept of CSR (Corporate Social Responsibility) has come up. Many business organizations have already started adopting different  social / environmental standards in line to their activities to effectively comply with their CSR. However, It can not be ignored that adoption of CSR principle involves cost  and that expenditure comes from  their business, better to say from the part of their revenue. Hence, revenue generating activities cannot be overlooked. Therefore it is expected to generate benefits so that it can be recognized as sustainable business practice. Being socially responsible may have some bottom line benefits like CSR enhances brand image,  often draws more consumers within business community, reputation increases ability to attract capital and business partners, decreased operational cost and reduced business risk. A sound CSR approach can help build share value, lower the cost of capital, and ensure better responsiveness to markets. 

Practically, adopting an approach of making business organizations understand about benefits and positive effects of being socially responsible, will create an encouraging atmosphere and yield positive result rather than only critisize them. Along with researching on their lagging areas , expert advise  on the ways to overcome those lagging areas will really help businesses and thus will not only benefit their surrounding communities but also benefit all of us. 

At the end of the day, we must remember that we have already set off on a voyage by spaceship earth with limited resource. Mutual cooperation at every sector of the society can only help us to use those limited resource judiciously.