Corporate Social Responsibility In Asia
India has been recently ranked fourth among the five Asian countries that lay emphasis on the disclosure norms of corporate social responsibility
. The list was topped by Australia as approximately 8 out of 10 companies in this country are involved in CSR activities. According to industry experts, Asian companies have started realizing the importance of integrating cost effective CSR programs as a part of their business activities. This is being done in order to make profit and run a sustainable business that will cause less damage to the society and environment. For business organizations to function in a better manner, a conducive and healthy environment is required for carrying out profit making and CSR activities. This is the reason why it is important for companies to learn how to maximize available resources and come up with innovative products and services to address social issues while making money.Jollibee is one of the organizations that can be considered an effective example of how companies can integrate corporate social responsibility in business operations. It has been successful in helping poor farmers with skills and infrastructure in improving rice production. The company in turn has benefitted with the supply of better quality products. There are many such Asian companies that have been making profit from production of goods along with protecting the rights of farmers or workers. More Asian countries are taking this example into consideration and encouraging business organizations to introduce products and services that can be beneficial for the society and the consumers.
There is no doubt that Asia still lacks behind Europe and America in enforcing corporate social responsibility to make business better. But efforts are being made in order to tackle social concerns within the limited resources. According to experts, Asian countries will have to first alleviate poverty more than any other relevant issues and this is why they need to learn from developed countries on how to incorporate and sustain corporate social responsibility even in difficult times. Surprisingly, in India, CSR disclosure level is very high and well known brands such as Infosys and TATA are successful examples of companies that are involved in CSR events and publishing of CSR reports. The present need for organizations is to become more transparent in terms of code of conduct, policies and governance.
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