CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE GOVERNANCE

 

CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE GOVERNANCE

In the entire corporate entity, corporate governance and corporate social responsibility are the best methods for connecting with the society .  Corporate social responsibility (CSR) is defined as the responsibilities of the company towards the society. The company not only focuses on increasing the profit and grows their business monetarily but also earns the respect of the society so that it will engage positively with their work and the society.

Corporate governance not only deals with governing the office premises but also deals with so many other things such as the proper conversation between the employees and the managers. It is  also linked with transparency in the business, healthy conversation with the stakeholders.

 

Corporate social responsibility is the good practice of good corporate governance. In Corporate social responsibility the companies do donations, and share some amount of profit with the society.

The benefits of corporate social responsibilities are as follows:

1. It increased brand awareness

2. Improves the  image of the company in the public eye.

3. Increase customer engagement

4. Advantage in competition

 Hindustan Unilever Limited and Tata Group  have done a lot of work for the society and also shares the profit with the society . They support and fund many Non governmental organizations (NGOs) who do many social works for the society. They fund the organizations who distribute the food to the poor.

 Now we can clearly say that corporate governance are equally related to corporate social responsibility and creates the good image of the corporate entity (the company) in the eyes of the society and impacts the society positively.