Corporate Social Responsibility on Youth Development

Corporate Social Responsibility (CSR) is no longer a nice to do, it's now indisputably a must-do for building a trusted, purposeful brand. CSR enables companies to maximise the marketing opportunity to differentiate themselves in a relevant and authentic manner. One can argue that it is mutually beneficial between the company and the stakeholders. The definition of a stakeholder is a party that has an interest in an enterprise or project. The primary stakeholders in a typical corporation are its investors, employees, customers, and suppliers. It is the stakeholders who legitimate the field of CSR, for whom without, there would be no judge of the responsibility that the corporation is taking. Some use CSR as a way to rebrand a tarnished image or just keep their good image to the public. One example of an organization maintaining a good image is the Bill and Melinda Gates Foundation, and all of the charities that it donates to and sponsor globally. This helps keep up the image of Microsoft, as Bill Gates is the figurehead of the company. One of the major expectations of governments on corporations in terms of CSR is that those corporations care for the environment that is affected by their work. Coincidentally, this is also the expectation of multi-national corporations (MNCs) on the government. Another form of CSR is community development. MNCs build infrastructure in developing countries that help themselves as much as they help the communities. The new generation of millennials is emerging with the predominant mindset that the main purpose of business is to improve our society rather than earn profits for the shareholders.