Coporate Social Responsibility (Csr) in Zimbabwe vs the Global Expectations
NAME NYARADZO TABE- 122SIS28 TOPIC COPORATE SOCIAL RESPONSIBILITY (CSR) IN ZIMBABWE VS THE GLOBAL EXPECTATIONS Considering the rough economic environment in the country one might wonder how businesses can balance between making sure that they survive and responding to social concerns. Zimbabwean businesses in general accept that they have a responsibility to plough back into the society but not all of them have been committing themselves to solving the social and environmental problems that arise in the country.
According to (Frederic, 1994, p. 151) “The obligation to work for social betterment is the essence of the notion of Corporate Social Responsibility”. CSR assumes that business organizations have societal obligations which transcend economic functions of producing and distributing scarce goods and services and generating a satisfactory level of profits for the shareholders as asserted by Epstein (1989).
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This study seeks to understand why Zimbabwean businesses have been so reluctant about CSR and will answer the following questions: 1. Why have Zimbabwean businesses been reluctant about CSR? 2. How practical is it for corporations to employ the international standards for CSR in Zimbabwe 3. How does Corporate Social Responsibility contribute to the socio economic development of Zimbabwe? This paper argues that the absence of legal text toward CSR has contributed to some businesses’ reluctance towards it.
Moreover, It can be very difficult for Zimbabwean businesses to contribute to social activities because of the economic collapse in the country, business are struggling for their own survival and might not have anything to spare for social cause. However although corporations in Zimbabwe are not doing as much as corporations in developed countries, they are contributing to a greater extend to the social and economic development of the country. The analysis will be qualitative and will also make use of secondary data.