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The Place of Csr in Nation Development

The Place of Csr in Nation Development

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Published by Arinze Okemefuna

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Published by: Arinze Okemefuna on Jul 07, 2011
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07/07/2011

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INTRODUCTION Every company is part of society and inevitably is affected by society s expectations.

The traditional contract between society and private industry has changed in the wake of globalization, the establishment of a worldwide network of economic ties and rapid technological advances. As companies develop global value chains, there are increasing expectations that they will behave responsibly. Today, many companies are active in a variety of countries at the same time. They maintain production facilities all over the world, work with suppliers in different continents and sell their products in the global market. As they do business in the international arena, they are faced with economic, political and social challenges such as poverty, inadequate medical care and educational deficits, particularly in the developing and emerging countries. In less developed countries, the government s failure to solve problems means an increase in the influence and responsibility of global players. In this context, corporate social responsibility can play an important role in ensuring fairness in the globalization process. It is not only the society in the target market that benefits, however; social engagement also helps companies open up new markets, retain employees and suppliers, minimize risks and develop country-specific products. Many companies are already actively addressing the expectations of their stakeholders and organizing their value-creation processes and local relationships to meet those expectations. Instead of being part of the problem, they want to contribute to the solution.

THE PLACE OF CORPORATE SOCIAL RESPONSIBILITIES (CSR) IN NATION DEVELOPMENT (A CASE STUDY OF THE NIGERIAN NATION).

The CSR Worldwide portal is intended to aid German companies as they seek to shape their foreign corporate context in a responsible way. in a company s treatment of its employees and in its dealings with the relevant stakeholders. health and the environment.THE MEANING OF CORPORATE SOCIAL RESPONSIBILITY (CSR) CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis (European Commission). It refers to responsible corporate action beyond legal requirements. THE PLACE OF CORPORATE SOCIAL RESPONSIBILITIES (CSR) IN NATION DEVELOPMENT (A CASE STUDY OF THE NIGERIAN NATION). It is often necessary for a company to invest strategically in developing its social and ecological environment if it is to be economically successful and gain acceptance from its employees and stakeholders. CSR manifests itself throughout the value chain. . Particularly in foreign markets. it is critically important to recognize the expectations and needs of each society with respect to the company and its business activities. To that end. poverty. the portal provides practical information on individual countries that may be useful to companies as they become involved in such areas as education.

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