Business in the Community
Business in communities refers to the relationship between the business and its stakeholders in an external environment.
This is also referred to as Corporate Social Responsibility
Corporate Social Responsibility refers to recognising the responsibility of businesses towards the wider community.
This way businesses work towards making the community a better place and in return their reputation is enhanced. Examples of Corporate Social Responsibility involve offering goods or services to the members of the society who would otherwise be barred from some of the benefits of the society. For example: Helping disabled consumers and employees by offering them high class access facilities. Corporate Social Responsibility benefits the business by developing the skills and experience of employees. It also motivates the employees as they develop a sense of pride by representing their organisation in the community. CSR also helps in building the reputation of the company. Companies like Coco Cola and TESCO are committed towards corporate social responsibilities.
Further, Business in the Community BITC is an independent charity set up by leading business organisations to continually improve the impact they have on society. This organization works towards creating a responsible approach towards conducting business.
Different ways in which businesses can work as a part of the community are:
- Taking initiative to fight environmental issues to create greener environments.
- Provide educational assistance to schools by sponsorships or arranging industry visits.
- Creating employment opportunities
