Corporate Social Responsibility (CRS) is a management concept adopted by various companies today. Many companies now view COVID- 19 as an opportunity to aid the society as part of their social responsibility scheme.
True, in these hard times, corporations have to be responsible towards their surroundings for their own good. When the first corona case was confirmed in Ethiopia, many companies contributed a lot of financial and material support as an immediate response for the call made by the government.
Private and government financial institutions, companies of various kind, and artists are in front line to provide support for the effort against the pandemic, which is worth appreciation.
Indeed, being socially responsible also has several benefits for every company. Until now, most companies believe that CSR is just a thing to do for tax benefits and to muffle the voices of those who raise it against certain corporate practices. However, going beyond these myopic point of views, companies have now realized how a few simple acts of kindness can benefit them in more ways than one.
For long, CRS has not been a common practice consistently held by companies in Ethiopia. But, this does not mean that there is no company that discharges its social responsibility. For instance, many local and international companies reside in and out of Ethiopia have been participated to realize a vision of planting four billion trees.
What is more, businesses also practice social responsibility by donating to national charities. Whether it involves giving money or time, businesses have a lot of resources that can benefit charities and local community programs.
A portion of companies in Ethiopia provide financial assistance to charity organizations once in a year from the profit they made. Some others are also giving away a product or service to a worthy recipient for every sale made.
Every company needs to build trust and a good reputation amongst its employees, vendors, customers, and investors. These two ingredients go a long way in determining the success of their company. That is why, some Ethiopian businesses decided to pay monthly salary for their workers even though the company is experiencing difficult times due to COVID-19.
At this Corona era when countries are experiencing economic instability, many companies and individuals have been lending hands to support the destitute people.
Communities are grappling with problems that are global in scope and structurally multifaceted – COVID-19, persistent poverty, and climate change. The business case for engaging in corporate social responsibility is clear and unmistakable. Billions are at stake if fast and large-scale action is not taken.
Undertaking socially responsible initiatives is truly a win-win situation. Not only will a given company appeal to socially conscious consumers and employees, but also make a real difference.
Thus, discharging corporate social responsibility should not be a onetime agenda; it would rather be a continuous task of a given company. In order to do that, it is important to have a relevant CSR plan to earn this kind of goodwill. The Ethiopian Herald April 30/2012
