Corporate Social Responsability

1867 Words Jun 18th, 2018 8 Pages
Analyze the challenges and solutions organizations in Trinidad and Tobago might face in the design and implementation of a functional Corporate Social Responsibility policy

According to The World Business Council for Social Development, corporate social responsibility (CSR) is the continuing commitment by businesses or organizations to behave ethically and contribute to sustainable development while improving the quality of life of the workforce and their families as well as of the local community and society at large. Moreover, CSR and the need for the design and implementation of a policy has spread geographically from its original US setting (Bowen, 1953) to become a global concept (Matten & Crane, 2005; Scherer & Palazzo, 2007),
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The Earth Summit also defined sustainable development as the economic progress, social justice and environmental protection. Since, then businesses all over the world including some in Trinidad are investing money and taking initiatives in the different fields and becoming a trusted by the publics.
In terms of economic progress, the company can develop a local skills network making its expertise and resources available to local business it can create a win-win strategy. It promotes the local economy and yields access to valuable expertise. Socially, the organization can work in each community to address with local aspirations and give support to associations that are working toward public good. With regards to the environment, each task is to ensure as often as possible its business activity takes into account the need to protect and enhance local eco-systems. For example, the multi-national organization BPTT, achieve this aspect, sustainable development in the CSR policy by being involved in a range of activities in Trinidad and Tobago, from involvement at the Galeota Point’s Nature Reserve, to making a US$10 million dollar investment in the University of Trinidad and Tobago and sponsoring cultural activities and hopes it creates a profitable relationship between consumers and the organization.Note as well that in the areas of TT which they work, such as Mayaro, BPTT offers scholarships to youth to encourage their pursuit of higher education.
The third
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