Corporate Social Responsibility As Risk Management

In the interviews with the five managers, the research found three made reasons being posited for engaging in CSR. These are similar to what Kytle Ruggie (2005) indicates in his study. The three reasons are discussed below: †¢ Philanthropy The structured interview session revealed that majority of the managers (5) prefer philanthropy as a direct and â€Å"least involving† CSR strategy. These managers admitted that they channel their financial contribution to various governmental or non-governmental organizations that act as implementing agencies of various programs in the society. This support model is the most preferable CSR concept as compared to other CSR strategies that have been discussed in this paper. This has been confirmed by Kytle†¦show more content†¦These entail the construction of schools by these corporates and paying fee for the learners. The respondents equally mentioned that they intend to be involved in supporting churches and other social institutions directly. The researcher also had discussions with the interviewees regarding the benefits that these CSR activities have brought to the organization. It was established that many organizations have a CSR Policy, which defines areas of concern and initiatives to improve relations with the people and environments affected by business operations (Bell, 2016). The interviewees agreed however that CSR is about more than environmental responsibility or having a recycling policy. Its initiatives take organizations beyond compliance with legislation and leads them to honor ethical values, respect people, communities and the natural environment. But most of all CSR is sustainable - involving activities that their organization can maintain without adversely affecting the business goals. Few benefits mentioned were; 1. Win new business 2. Increase customer retention 3. Develop and enhance relationships with customers, suppliers and networks 4. Save money on energy and operating costs and manage risk 5. Differentiate company from competitors 6. Improve the business reputation and standing 7. Generate positive publicity and media opportunities due to media interest in ethical business activities Participants were asked a series of open-ended questions related to