Corporate Social Responsibility is significant in today’s world. It is basically a commitment to improve community well-being through discretionary business practices and contributions of corporate resources. It is misperceived as just a combination of three simple words, its meaning and importance goes way beyond. Businesses exist in society, so society owes some rights over business, these rights means that business sector have to plan their activities in an ethical way. Along with ethical business practices, it is an obligation of business sector to prove their contribution in the development of society. The importance of corporate social responsibility has grown significantly in last decade; it reflects that corporate sector has acknowledged the importance of this concept. Indulgence of corporate sector in CSR activities significantly increases the corporate image; consequently it adds value to corporate brand name, and vice versa.
The generic purpose of business is to generate profits for its stake holders. The corporate social responsibility doesn’t means that business sector spend all of their revenues in CSR activities. Corporate social responsibility means that business sector have to show philanthropic and altruistic efforts towards this concept.
Corporate social responsibility plays a vital role in creating brand image and reputation. The biggest asset of any retail and consumer product and service organization is its brand image in the market and its perceived value among the people who consume it. In kind of businesses today corporate social responsibility plays a very important part in developing and creating brand image and reputation in the market. These brand reputations have higher value.
The long term survival of business lies in the concept of corporate social responsibility. The rapid growth in technologies and education make the business more accountable to society. More number of companies are issuing there corporate social responsibility reports, as compared to past. Different companies from different sectors are increasing their focus on corporate social responsibility activities, engaged in various types of business practices but the commonality in them is “increase focus on corporate social responsibility”.
The indulgence of corporate sector in CSR activities reflects that they know that how CSR activities made their impact on corporate brand name. It is often observed that organisations treat corporate social responsibility as an insurance premium of their brand; in fact it is not, the concept is all about the commitment of an organisation towards community.
In the light of the above mentioned discussion it is reflected that employees feel much more satisfied to work with the organisations which are involved in corporate social responsibility activities. Believing on this notion Piffers Security Services is trying to satisfy their internal and external stakeholder which is the essence of corporate social responsibility. Piffers wants to maintain and strengthen the relation between organisation and its stakeholders by refraining from the unethical business practices which significantly damage organisational brand name.
The expectation of stakeholder may vary from time to time, but it is the responsibility of organisation to keep them satisfied and Piffers Security Services is fulfilling its responsibility. On the occasion of Eid, gifts were presented to the security guards and besides that special Eid compensation packages were also given. Furthermore all the security guards who were on duty on the Eid days were given Eid allowances. This is small corporate social activity to justify its existence in the society. The existence must be evident with their contribution and role in developing the society.
Armoghan Tallat KHAN
Chartered Marketer. MCIM
Chief Operating Officer
PIFFERS Security Services (PVT) Ltd.