Open AccessA Reflection on Corporate Social Responsibility in Africa contrasted with the UAE and some Asian Nations
Author(s) -
Revantha Gajadhur,
Angelo Nicolaides
Publication year - 2022
Publication title -
athens journal of law
Language(s) - English
Resource type - Journals
ISSN - 2407-9685
DOI - 10.30958/ajl.8-2-4
Subject(s) - corporate social responsibility , corporate governance , theme (computing) , social responsibility , business , shareholder , value (mathematics) , public relations , business ethics , perspective (graphical) , accounting , political science , finance , machine learning , artificial intelligence , computer science , operating system
Corporate social responsibility (CSR) is still a controversial theme in discussions about companies and what they do to benefit communities in which they operate and society at large, and many argue that it does not permit the maximisation shareholder value. CSR is nonetheless a significant matter to consider in any business conduct. A plethora of research proves that socially responsible companies benefit both themselves and society. A key benefit that emanates from CSR is ab enhanced relationship between a company and the community in which it operates. CSR must be leveraged by organisations who are committed to society and stakeholders. Only in this way can sustainable development be realised, and this must be done in a transparent and ethical fashion so that maximising profits do not remain the key drivers of CSR which is a mere façade as noted. Corporate social responsibility offers numerous advantages and strategic benefits to companies that adopt it and do so in a serious manner. This study aims to fill that gap in knowledge by providing a different perspective to the discussion on CSR in South Africa, using insights garnered from the UAE approach and that of some other nations. Keywords: Societal support, organisations, good governance, ethical practice, regulations.