Corporate Social Responsibility in Nepal

Corporate Social Responsibility (CSR) is defined as the voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner.

Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social

Social responsibility is a belief that one has both, the moral and ethical responsibility to base decisions based off of the effect which it will have on society. This means that as human beings it is our responsibility, better yet our obligation to work in coordination with one another in efforts to better the planet’s well-being as well as our company’s. Corporate social responsibility adheres to the same policy, only in a corporate environment. This means that every corporation has the innate ability to make decisions that affect our vitality as a whole when applying those decisions in business. Businesses must be aware of the effect on the community and the environment

Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism that has business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered stakeholders. CSR is titled to aid an organization's mission as well as a guide to what the company stands for and will uphold to its consumers. Development business ethics is one of the forms of applied ethics that examines

Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society (2). CSR may also be referred to as "corporate citizenship" and can involve incurring short-term cost that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change(1).

Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. (World Business Council for Development, 2016)

Corporate Social Responsibility are actions taken by a corporation that have positive and lasting impact for all stakeholders associated with the organization, seeking to strike a balance between profits and helping to establish lasting investment in the community (Carrol, 2015). In the 1980’s, then President Reagan challenged the business community to take on more responsibility to address social problems (Carrol, 2015). Socially responsible actions can benefit local communities as well as the greater societal good.

Corporate social responsibility (CSR) is a corporate initiative to assess and take responsibility for the company 's effects on the environment and impact on social welfare. CSR may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change.

Corporate social responsibility (CSR) is the ethical behaviour of a company towards society it operates in. It is a commitment to the concern to the society’s sustainability & development.

CSR lacks universal methods. The United Nations Industrial Development Organization (UNIDO) mentions that it is important to draw a distinction between CSR as part of strategic business management concept and charity, sponsorships or philanthropy. The latter applications make valuable social impacts that enhance the reputations of the companies, however, CSR is a continual effort instead of an instance. A few features that CSR should focus on are: eco-efficiency, employee and community relations, environmental management, gender balance, responsible souring, anti-corruption, stakeholder engagement and human rights. Utilizing some of these key features a company can bring competitive advantages into the market place. Increased sales and profits from operational cost savings as well as improved reputation and brand image and customer loyalty can result from a well-defined CSR strategy.

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

The concept of corporate social responsibility means that organizations have ethical, moral, and philanthropic responsibilities in addition to their duties to earn a reasonable profit for investors and comply with the law Bucholtz (2003), . By looking this definition we can see all the principal aspect that CSR take into consideration.

What is CSR? CSR or Corporate Social Responsibility indicates the actions or conducts that have strategic importance to companies. CSR has been defined as a company’s efforts or obligations in reducing and getting rid of any detrimental effects on the community and maximizing long-term beneficial effects to the company and community in which it operates (Mohr et al, 2001, cited Trendafilova et al, 2013). CSR usually starts with the general emphasis that businesses are not only responsible to generate economic returns for shareholders, but are also responsible to the environment and to other stakeholders. This is usually known as the “triple bottom line” – the company’s returns for investors, the environment and stakeholders (Markley,

According to the ¡®Wikipedia¡¯ , ¡°Corporate social responsibility (CSR) is a company s obligation to be accountable to all of its stakeholders in all its operations and activities with the aim of achieving sustainable development not only in the economical dimension but also in the social and environmental dimensions.¡±(en.wikipedia.org/wiki/Corporate_social_responsibility retrieved:10/09/07); another definition is that ¡°CSR is about how companies manage the business processes to produce an overall positive impact on society.¡± (mallenbaker, http://www.mallenbaker.net/csr/CSRfiles/definition.html. retrieved:10/09/07)

Corporate Social Responsibility is an initiative companies voluntarily follow to give back to the local and global community. CSR includes such causes as environmental conservation and sustainability, diversity and equal employment opportunity, and volunteer service projects and charitable giving. More companies now practice CSR because the public expects businesses to act responsibility.