What Is Corporate Social Responsibility (CSR)? How Could Saskatchewan Companies Demonstrate CSR? Use Specific Examples. Essay Examples

Corporate Social Responsibility refers to as a business practice in which company tries to participate in projects which benefit the society as a whole. Companies mainly participate in such initiatives to gain consumer loyalty. CSR is basically a management concept in which companies integrate social and environmental concerns along with their business operations and they also work to increase communication with stakeholders.
CSR is becoming a famous act among business individuals, and the majority of the business use CSR acts to create shared value for their business and society. CSR is beneficial for business in another perspective too. If actions are not taken against the fast-paced problems of the globe; whole business world will be at stake. Further benefits of CSR are a better risk management, cost savings, innovation capacity and better customer relationships.
In Saskatchewan, CSR is strictly followed, and companies are encouraged to conduct business in responsible manner and also encourage other businesses to do the same. CSR in Saskatchewan is demonstrated by many companies; for example, in Cameco Corporation, stakeholders are a part of management and board. Being the largest Uranium producer, the CSR mandate is shared among committees with leadership in health, safety and Environment committee.
Loblaws Corporation limited is the largest food distributor and a major provider of general merchandise product, drugstore and financial products and services. It follows CSR very seriously, and the senior management is strongly guided by input into the vision, strategy and disclosure.
Potash Corporation is working to include CSR in board mandate since 1995. It is now successful in incorporating CSR principles in its vision and strategy. By this time, they have become leaders in establishing board level stakeholder engagement mechanism. Moreover, they have become a leader in external disclosure.