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Sustaining CSR during financial hardships
December 23, 2020 Written by JOAN SEMANDA KIZZA
Corporate social responsibility and investment (CSR/I) have grown to become an intrinsic part of many companies across the globe.
In the past, all that mattered for businesses were sales and super profits. Consequently, this disposition has changed with the realization that businesses are part of an ecosystem and operate within a network of stakeholders, including; employees, suppliers, customers, partners, distributors and government, among others.
As a result of this ecosystem, businesses have evolved to be socially-responsible in their interactions with different stakeholders. By implementing managerial tools and acti
Daily Monitor
Thursday December 10 2020
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Corporate Social Responsibility and Investment (CSR/I) has grown to become an intrinsic part of many companies across the globe. In the past, all that mattered for businesses was sales and profit maximisation.
Consequently, this disposition has changed with the realisation that businesses are part of an ecosystem and operate within a network of stakeholders, including employees, suppliers, customers (geographical and local communities), partners, distributors and government among others. As a result of this ecosystem, businesses have evolved to be socially responsible in their interactions with different stakeholders in the communities they operate in.
By implementing managerial tools and actions like corporate social responsibility and investment, businesses can maintain sustainability and stability in their operations. This investment while good for society and communities, comes at a cost to businesses, albeit not all CSR/