In recent years, there is a growing trend of companies paying attention
to social and environmental impacts as a result of their business operations. Corporate
talks a lot about contributing to the society. Particularly in some blue-chip
organisations, Corporate Social Responsibility (CSR)/ Corporate Responsibility
(CR)/ Sustainability Divisions are set up. If you have aware, names of these
divisions have been shifted from CSR to CR or Sustainability. Are these concepts
the same? And why is there such a change?
Some people claim that CSR and CR/ Sustainability are interchangeable.
Theoretically speaking, however, they are contested concepts, which should
evolve across time and context.
CSR is viewed as part of the business roles of contributing its profits
to the community. It is defined by dual objectives- benefiting business and
society.
While climate change has becoming an overwhelming issue, our
interpretations have developed from a relatively narrowed social concern to a
wider notion of balancing economic, social and environmental development. The
CSR focus is far too narrow in the sustainable development led era.
By taking the ‘S’ out of CSR, CR embraces a holistic conception of sustainable
development- to meet the needs without compromising the needs of the future
generation. In business sense, CR means to meet the business objectives without
compromising the future social, economic and environmental needs. In other
words, corporate has the responsibility of maintaining sustainable development
by acting in a sustainable manner.
The transformation of departmental terms reflects practitioners’
awareness of the prevailing contextual shift. However, how can corporate make
full use of CR/ Sustainability? Is it an opportunity or a risk?
From a charity point of view, it is promising to see corporate waking up from the call and getting business beyond usual. We see CR/ Sustainability an opportunity for charity/non-profit organisations to build potential partnerships with corporate and accrue significant benefits to the society in sustainable manners.
Next, we will discuss more about the opportunities and challenges of
business-charity partnerships from a charity perspective. Please post a comment
of your initial thoughts!
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