4. CSR in Company Practice

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4. CSR in Company Practice

According to the current trend many entrepreneurs have a perception of company social responsibility only as invested funds associated to philanthropy. Indeed, Philanthropy activities should not supplement the insufficiency of tax measures or conceal system mistakes and obstruct their elimination (Soukupova, 2008). It is not possible to understand company social responsibility as “funding” philanthropy groups that consume certain goods but on the other hand are not willing to pay for them to the full extent.

CSR is often mentioned within the context of complying with legal standards or ethical principles. Despite all the concerns, the beneficial initiatives and the process of changes are usually limited to the in-house environment. According to Soukupova et al. (2008) it stands to reason that firms “expect a long-term benefit to compensate their investments, including positive effect on their reputation”. Usually, partnerships that promote and support a the goals of the firms, cooperation with ONG, project developed in accordance with no profit organizations increase the public interest on firms (Wenker, 2007).