In the last 30 years, a large number of companies have appeared in the world of market. Concentration of entrepreneurs in the new dimensions is the basic factor of success. As compared to the previous years, entrepreneurs have acquired more awareness regarding their social responsibilities. Now companies not only focus on the needs of their customers but also the needs of society and environment.
Corporate Social Responsibility (CSR), popularity is growing day by day, as more and more companies around the globe are turning their focus towards the sustainability of environment and resources at large. Companies now have come to realize that their future as successful, large companies is dependent upon the future of environment and society to which they belong and in which they exist.
In a survey, it has been observed that customers are showing keen interest in buying the products of that company which is fulfilling its social responsibilities. Corporate Social Responsibility (CSR), simply means that companies should spend some proportion of their profit on the betterment of the society by plantation of trees, proper disposal of waste, using alternate sources of electricity, proper utilization of raw material and if possible using those renewable resources.
In Pakistan, companies like EBM, Nestle, Unilever etc have realized their social responsibility. Nestle Pakistan Ltd has a unique CSR profile which is inbuilt into its business model, their concept is to integrate rural development with market mechanism. If we look at EBM, their cultural ethos is of a “Caring Corporate Citizen”, that is giving back to community as a responsibility and obligation of a good management. EBM portrayed itself as a responsible company by responding immediately to the victims of earth quake and providing them not only funds but free of cost biscuits. Unilever is also actively participating for the betterment of society. Rose Petal is donating a proportion of their sales proceeds to WWF Pakistan for the preservation and nature conservation.
It is the need of time that all the companies across the globe should realize their responsibilities and discharge them as responsible citizens and generate not only good returns but also conserve the environment.