Culture And Tradition Of Corporate Social Responsibility Management Essay
Hotel industries in Mauritius have a long culture and tradition of Corporate Social Responsibility especially in terms of voluntary engagements in the regions they operate.
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Get Help Now!They have been making several important contributions over the years to the environmental and social development of the country. Mauritian Hotels in their large majority believes that their role in society extends beyond wealth generation and that of pursuing economics interests, but is also balanced with both the social and environmental responsibility.
The Mauritian Hotel industry engages in both internal CSR activities for the benefits of its employees and also external CSR activities for developing or supporting and community related activities. Moreover,the Government of Mauritius has established a policy whereby all profitable firms are required to either spend two percent of their profits on Government-approved activities/programs which contribute to the social and environmental improvement of Mauritius or transfer the funds to the Government to be used for social investment.
Corporate Social Responsibility (CSR) is a model whereby businesses consider the interests of the societies within which they are based and operate. Moving beyond philanthropy and compliance, CSR shows how companies manage the impact of their economic, social, and environmental policies, as well as their relationships with customers, employees, suppliers, shareholders, and communities.
CSR has become a very well know public relation subject in the business world, yet there are those who argue that the positive impacts of CSR on businesses are overblown and say companies exist to sell goods, make profit and satisfy shareholders – not to save the world. Below are some definition of Corporate Social Responsibility.
According to the Jones Sustainability Index website, which defines corporate sustainability as follows :
“Corporate sustainability leaders achieve long-term shareholder value by gearing their strategies and management to harness the market’s potential for sustainability products and services while at the same time successfully reducing and avoiding sustainability costs and risks.”
According to the The World Business Council for Sustainable Development (WBSCD),it defines CSR as “Corporate Social Responsibility is the continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families as well as of the community and society at large.” (WBSCD,2000).
Following an evaluation of the impact of current European CSR Policy, the European Commission has put forward a new definition of CSR: “To fully meet their corporate social responsibility, enterprises should have in place a process to integrate social, environmental, ethical and human rights concerns into their business operations and core strategy in close collaboration with their stakeholders.” (EU commission, 2011)
Some other well-known definitions of CSR are as follows:
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