Corporate Social Responsibility (CSR): A multi-lateral approach to the subject

Corporate Social Responsibility (CSR) has been a highly debated topic during the last recent years in most developed and developing countries. We can today distinguish among three main general views on the role that CSR could play in shaping companies’ policies. The first view on CSR, which has been summarized by the Economist in the 20th of January 2005 issue, is, as the British weekly magazine titled, sceptical. I highly recommend you to go through that issue; making a brief summary the idea of the Economist is that CSR is useless since companies should only care about what they are supposed to do (maximize shareholders’ profits) and should not do more than obeying to the existing law that regulates business. The Economist clearly states that it is the role of governments to ensure civil, political, and social-cultural rights of people, and to make laws to prevent discrimination and to protect the environment. Companies should follow such laws, but not do more by themselves, since this would be harmful to their business.

[...] The government has a social responsibility to fulfil the goals of this strategy by implementing it. On the example of the reducing the poverty rate in Serbia it is possible to get acquainted with the biggest problem this country is facing and see that the governmental social responsibility is in each country different, reflecting upon the most burning issues. Montenegro The Republic of Montenegro declared itself as an ecological state dedicated to achieving balance between exploitation of resources and industrial growth on one side and preserving the natural environment on the other side. [...]

[...] From the time of the creation, over seven years ago, of MAALA - Business for Social Responsibility in Israel, a non-profit membership organization to promote the concepts of corporate citizenship and social responsibility in Israel's business arena, Israel has undergone extreme internal and external political upheavals, which emphasize the shortcomings of the government's social investment, and which underscore the importance of MAALA's mission. The Need for a Caring Business Culture in Israel Shifts in the local marketplace, with multi-national corporations becoming major players, and accelerated privatisation and liberalization, have opened the market to growing competition. [...]

[...] The CSR Level aims to promote a culture of social responsibility among business through the definition of Guidelines for implementing CSR in the company, the adoption of voluntary agreements, and the introduction of management systems. This level does not foreseen by third-party verification. In the SC (Social Commitment) level companies are expected to co-finance projects in the field of social inclusion, in order to qualify for fiscal and financial benefits. This level envisages a specific assessment procedure: enterprises which want to join this benefit system are required to draw up a Social Statement according to a set of indicators defined by the Government and be able to demonstrate that they are complying with them. [...]