Review on Corporate Social Responsibility

Review on Corporate Social Responsibility
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Introduction
There is increased adoption of Corporate Social Responsibility (CSR) practices in the Arab Gulf region (Adawi & Rwegasira 2011). Nonetheless, more needs to be done for the region to catch up, but there is still progress as enterprises focus more on accountability in line with corporate governance. One of the effects of the Arab Spring is that the enterprises increasingly recognize that consumers expect more social engagement and CSR is prominent more than ever before (Avina, 2013). Increased engagement of local enterprises in CSR programs is likely to have a positive impact on local Emiratis, as people have a sense of ownership better than before. Both the government and private enterprises need to educate people on CSR to reduce the gap in misunderstanding on the issue. This paper highlights on the main purpose of European Commission, adoption of new CSR strategy, main discussions in the article and lessons for UAE authorities.
Main purpose of the article
The case for CSR is now widely accepted as corporations take risibility for their activities and there impact on the environment and the social welfare. The Commission sought to adopt new strategies for the implementation of a CSR policy that is more comprehensive and applicable for the EU. The Europe 2020 strategy sought to extend the commitment towards Corporate Social Responsibility through adoption of a single policy (EU Commission, 2011). The authors sought to incorporate policy measures by taking into account the social context and economic crisis that took place after the 2008/ 2009 global financial crisis. Essentially, the new strategy is to create a suitable environment that makes it easier for business to conduct there businesses responsibility while also promoting growth.
The authors of the article acknowledge that there are challenges to full implementation of CSR policies in Europe. As such, they rightfully point out that adoption of CSR policy requires involvement of various stakeholders including enterprises, other stakeholders and the Member States. In essence, the article also focuses on ways through which to improve CSR adoption in line with international standards. To facilitate this, the article identifies the need to identify and reward enterprises which follow through with CSR policy. Furthermore, related to promotion of CSR is the need to highlight on self-regulation as a way through which to maintain social responsibility.
Main areas of discussion
In their discussion, the authors first delve into CSR, and why there needs to be adoption of a new CSR policy in the EU. A background on the issue of CSR highlights that CSR looks into the interest of enterprises and those of the society. Hence, the commission seeks to add other dimensions to the traditional view of CSR. The new strategy to be adopted integrates changes that have taken place in European societies and on the economic front (EU Commission, 2011). Other than this is the need to assess the impact of adopting a new CSR strategy in the European context. The authors further focus on the contemporary understanding of CSR that follows international standards and is multidimensional. In the...