Abstract:
There has been an age long debate over the relevance of Corporate Social Responsibility (CSR), considering that it is not necessarily a prerequisite for business registration or operation. Several literatures have argued that CSR in many ways tend to adversely affect a company's financial performance by diverting managerial attention and drawing resources from productivity, while promoting the personal agenda of the business manager at the expense of the shareholders. There have also been scenarios where CSR has been relegated to being a mere case of philanthropy. In this research it has been established who the stakeholders of the organization are and what their represented interests are. Some functions of CSR in the community has also been highlighted ranging from environmental protection to human rights corporate sustainability, as well as data gathering and poverty alleviation. CSR has also proven to be a Key Performance Indicator (KPI) tool used by Human Resource Management (HRM) for proper accounting of the impact of the organizations activities on society. CSR has also grown from being solely a top managerial activity to an all level employee engagement activity. In 2019 the world was hit by one of the worse health pandemic known as the COVID-19 and the effect of this on many businesses has been very devastating till this day. Yet, it has also in so many ways tested the relevance and efficiency of CSR, this era moved CSR from being 'The Nice Thing to Do' to 'What Should Be Done' . In the wake of this reality it has been concluded in this research that we are now experiencing a paradigm shift in the application of CSR and the results would determine the sustainability of many organizations post-COVID-19.
|