The Finance behind the Plastic Problem
The plastic problem has become a major talking point across the entire world. Almost every country in the world is alarmed with how much plastic is being used and the effect it has on the environment. Plastic is an extremely convenient product to use. However, the problem with plastic is that when it is disposed […]
Dealing With Special Claims during Bankruptcy
The bankruptcy process takes a long period of time to resolve. During this time frame, the company takes the protection of the legal system. The legal system makes provisions for discharging the previous claims on the assets of the company in a fair and equitable manner. However, the bankruptcy process is quite complex. It has […]
Inventory Migration – Meaning, its need and importance
The need for Inventory Migration from one warehouse to another warehouse does not come about very often in Supply Chain Operations. However, sometimes the business demands necessitate a change of warehousing location, setting up a new location or even a change of business model. The occasion and need for an inventory migration can come about […]
Corporate Governance and Expectations from the Management
The field of corporate governance exists in a symbiotic relationship between the management and the board of directors. It is impossible to talk about corporate governance without taking into account the roles and duties of the board of directors and the expectations from the management. To explain this fully, it would be useful to consider […]
Economic Impact of the Failed Coup in Turkey
In 2016, Turkey faced an attempted military coup. The coup was supposedly orchestrated by a US citizen of Turkish origin. His name is Fethullah Gulen. Apparently, the coup did not go as planned and President Erdogan was able to come out victorious. However, this attempted coup has made him paranoid. This has led him to […]
The articles till now have focused on how corporations need to embrace CSR (Corporate Social Responsibility) as a business imperative. The emphasis mostly was on how there are business needs to adopt CSR and it is high time the corporations became socially conscious.
In this article, we look at the role of the Media in championing CSR. Indeed, the media have a huge role to play in how CSR is broadcast to the world at large. It is simply not enough for corporations to do their bit for social causes. They must also let the world know so that others are inspired and they set an example for others to follow. Of course, we are not talking about “advertising” CSR per se because then it would fall into the category of the corporations trumpeting their achievements like they would do when they launch new products.
On the other hand, what we are saying is that they must follow the example of ITC and Vedanta that have created brilliant ads that portray their values and showcase the excellent work that they have been doing. There are other companies like Shell that have come out with innovative ways to reach out to the people about their CSR initiatives.
Apart from creating appealing and conscious ads, corporations must enlist the cooperation and support of media in spreading awareness about CSR to the people at large. In the final analysis, CSR is all about helping society look beyond profits and hence the media (which is a guardian of public good) has a stellar role to play in this endeavor.
The media can be used to seek volunteers from the society or the specific places where the corporations are launching their CSR initiatives. Further, they can be used to publish articles pertaining to the values and the mission of the company in promoting CSR. An excellent example of this relationship is the way Infosys is covered in the media. There are very few articles which do not mention the respect and the adulation that Infosys commands from the Indian public at large and this has been made possible because of adroit media coverage. The way in which the social initiatives undertaken by Infosys have been covered in the media speaks volumes about how well the company has managed its media coverage.
Apart from this, the media can also act as a conscience keeper by constantly reminding corporations about the need to give back to society and to look beyond profits. Internationally, The Guardian Newspaper has been at the forefront of demanding accountability and transparency from the corporations. In India, The Hindu does a good job of publishing articles and editorials that exhort the corporations to be socially conscious.
Finally, the media can also take a critical view of the CSR programs that a corporation claims to run and it can ensure that the corporation is not indulging in “Green Washing” which is the case where a corporation pretends to follow CSR but in reality does not do so.
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