Corporate Social Responsibility

Abstract

We are now in an era where being socially responsible is what is expected of all organizations regardless of where such organizations are based and what they do. Being socially responsible must start from the very top of the organization; those at the very top must believe in the concept of CSR and what it expects them to do. Leaders of organization in the twenty-first century are expected to address many CSR issues which affect their areas of operation and impact on their stakeholders. Most organizational leaders are too aware of the serious consequences of ignoring their responsibilities to their stakeholders and the environment. These areas where responsibility is desired are no longer few in modern times; in fact stakeholders expect organizations to go well beyond these expected areas of responsibility. In order to address these CSR issues responsibly, corporate leaders must be innovative when formulating strategies capable of providing effective solutions to the social, economic, and environmental challenges their organizations face or are likely to face; these managers are now unconsciously expected to understand the modern field of social innovation. In September 2000, 189 country leaders in New York led the way in formulating a vision of what our world should look like by year 2015 in the form of the eight United Nations Millennium Development Goals (MDGs). The eight Development Goals were expected to address some of the core social, economic, and environmental problems faced by our world, for example, “to eradicate extreme poverty and hunger” and “to develop a global partnership for development” two of the eight goals. Our world has faced a series of challenges since the eight goals were set. Some of these challenges came about as a result of greed and socially irresponsible attitude of some individuals, and others were acts of God. But it was not all about challenges, there had been many opportunities. A few countries have thrived and become socially and economically stronger since year 2000. If leaders of some of the poorer countries around the world inculcate a few more CSR approaches to their style of leadership more countries would become socially and economically stronger.