Corporate Social Responsibility of UAE- Based Multinational Corporations

Corporate Social Responsibility (CSR) Practice by Multinational Corporations: Focus on UAE-Based Corporations
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Corporate Social Responsibility (CSR) Practice by Multinational Corporations: Focus on UAE-Based Corporations
ABSTRACT
Corporate Social Responsibility (CSR) is undoubtedly one of the most fundamental subject matters for consideration by business enterprises the world over (Freeman et al. 2007). This is mostly because businesses are in fact part of the communities in which they exist in. this paper aims to offer pragmatic reviews and recommendations in regards to CSR practice by multinational companies or rather large corporations. As form of a case study, it focuses on four different companies based in different countries with particular emphasis being on companies based in the United Arab Emirates (UAE).
Overall, it is also important to note that not all CSR initiatives by large corporations result in realization of the set business goals and objectives. It is true however that the overall aim of CSR remains directly correlated with Public Relations (PR) and commitment to benefiting the community and stakeholders within the company environment. This has led to the development of the Global Reporting Initiative giving high priority to CSR. As such, it is important for business enterprises or rather corporations to establish and maintain sound and solid CSR strategies that hold regard for future well being of the company and wellbeing of all stakeholders as well (Smith, 2003).
This paper recognizes employees of a corporation as part of integral stakeholders. As a result, philanthropic motivation stands out as an important feature to be considered. It is also noted that corporations that engage in management by objectives go a long way in successful implementation of CSR strategies.
Table of contents
Abstract ..................................................................................................2
Introduction.............................................................................................4
CSR Analysis............................................................................................5
Al Futtaim .............................................................................................. 5
Goldman Sachs... .................................................................................... 6
British Petroleum...................................................................................... 7
Nike ...................................................................................................... 8
Recommendations.. .... ............................................................................ 9
Conclusion............................................................................................... 10
Introduction
One cannot decline to recognize the fact that businesses play an important role in regards to social aspects of a given community in addition to facilitating economic operations. Nevertheless, negative impacts posed by businesses have been witnessed from time to time. These place a weighty burden on the overall society and include aspects like pollution of the environment, employee rights violation and fraud...