Title: Corporate Social Responsibility: A Win Win Situation for Efficacious Business Strategy

Biography:

Azam Malik has been working as an Assistant Professor in Prince Sattam Bin Abdulaziz University Saudi Arabia. His area of interest is Corporate Social Responsibility and he is also working on the social issues of employees and Society. e.g. Environmental impact on society, social issues of employees. The areas are not limited to CSR, just taking research into the social issues of employees like Work-Life balance and Leadership styles. He also published many papers in national and international journals indexed in Web of Science and Scopus. He also authored two books on Management.

Abstract

A company's Corporate Social Responsibility (CSR) efforts not only maximize the good impact on communities’ in-and-around corporate operations and beyond, but they also represent "the manner of doing business." "The manner of conducting business" draws attention not only to a company's attitude toward society beyond business, but also to its workers' responsible social viewpoint, which helps the organization optimize its social influence. Sustainability initiatives that aren't closely connected to the company's main business obstruct the best use of the company's knowledge, which is a missed opportunity for both the company and society. CSR initiatives not only allow businesses to give back to society, but they also provide a platform for them to come up with innovative solutions to common business problems. Despite the fact that businesses recognize the importance of CSR, many find it difficult to form mutually beneficial partnerships: small-scale projects provide little tangible benefit to either the company or society, and corporate donations frequently leave the donating company out of the benefits equation. To achieve a sustainable positioning of their corporate brand and long-term positive benefits for society, organizations should strategically embrace CSR. CSR initiatives should emerge from core business processes and focus on the benefits the company can provide to society, creating a win-win scenario for both the organization and the community. Companies may interact with consumers and workers, raise brand recognition, inspire innovation, and save operational expenses by implementing CSR.