Corporate Social Responsibility

The concept of Corporate Social Responsibility (CSR) is generally understood to mean that corporations have a degree of responsibility not only for the economic consequences of their activities, but also for the social and environmental implications.

It is imperative that we as humans strive to protect the planet as much as we can. This will require us to be conscious and intentional about making our planet as habitable as possible.

Due to the activities of humans, the wild animals and wild forests have been greatly affected. We are currently living in an Anthropocene world, and if care is not taking, it will have an irredeemable effect on the planet.  

What do we do as a result?

1. We must be intentional about going green.
2. Engage in lots of tree plantings and frown against felling of trees unnecessarily
3. Constantly educating humans about our poor activities and its effect on the planet will go a long way.
4. We must learn to reuse and recycle.

Why we need to be socially responsible?

Every firm operates in one or more local communities. At an extreme a little restaurant has a
negligible impact in the affairs of a city like Lagos, although it may play a somewhat larger role in
the neighbourhood where it is located. At the other extreme a whole community may be dependent
for its economic viability on a single factory located in it.

Of course, the primary responsibility for promoting the common good of any given community lies
with the local authorities, who are the ones who have, or should have, the legal authority and the
tax revenues to enable them take appropriate action.

However, it may often be that the authorities are unable or unwilling to take effective action in some areas and as a result some important aspect of the common good of the community in which a firm operates is left unattended. beyond such cases, even if there is no breakdown in the operation of local authorities, for a community to have a
flourishing life it is necessary that all citizens, including corporate ones, be ready to make their own
contribution.

As a result of this, there will usually be pressures of one type or another for business organizations to get involved in solving problems of the local community in which they live.
Often, firms will be required to contribute financially to local needs and support local events or initiatives. In principle, there is good justification for business organizations contributing their share to community activities and needs in the fact that the firm is really a member of the community that benefits from the existence of a healthy community and from the voluntary contributions of other members.

Of course, there will be limits to how far a firm can be expected to engage in such voluntary work and donations, as there are in the case of any other neighbours.
In the case of business firms these limits derive basically from the fact that they have responsibilities to many parties, such as shareholders, employees, customers, creditors and so on, and that discharging appropriately these responsibilities often will leave relatively little available to contribute to charitable causes.