What is Corporate Social Responsibility (CSR) and provide a specific example of a company utilizing CSR and what the company is gaining from that CSR initiative

Answer:

Corporate social responsibility:

Corporate social responsibility (CSR) is nothing but a organization business model in which companies engage in social and environmental activities through economic contribution in order to enhance the community quality life.

Let us know the specific example of companies utilizing the CSR.

• In the current scenario of covid 19 outbreak, WIPRO and some other IT organization have declared to support the students for education by providing the laptops and tabs.
• Infosys foundation have helped the people during floods in india.
• Tata company have given funds to govenrment in india to avoid the covid 19 to help the poor.
• Amazon and flipkart have made aquisition with the farmers to promote the organic foods and help them during covid 19 outbreak.
• Leading aircraft company AIRBUS is developing the ventilators for hospitals during pandemic.

All these companies are helping the community people in order to enhance the quality of life by spending the some part of thier revenue.

Let us understand, what company is gaining form the CSR activities.

• Companies which involve in corporate social responsibility will get recognized in the community thus enhance the brand image of organization.
• Companies with CSR activities help to build a strong relationship with the different stakeholders.
• Companies with CSR activities boost the sales of goods or services.
• Companies with CSR activities enhance the organization ethics and morale.