The implementation of Corporate Social Responsibility (CSR) actions brings benefits for society, employees and the company. This is why this term has been heard more and more in recent years. Although the results of CSR are difficult to quantify, its product is already known and disseminated thanks to the experience of companies that have incorporated it.
Companies want to promote a good environment in accordance with the activity they carry out, so that they can guarantee their permanence in the market in the long term, and build a corporate culture for social responsibility, prioritising the interests of the company and in turn those of the stakeholders.
The activities carried out under corporate social responsibility are an important support for the company to improve its profitability. However, it is not uncommon that there are drawbacks due to the lack of consumer awareness for the implementation of these CSR activities.
A CSR partnership is referred to as "the status and activities of the company with respect to its perceived social obligation". It reflects the "corporate function towards important social issues" and can help in producing consumers' emotional feedback towards the company (Brown & Dacin, 1997).
Importance of Social Responsibility in doing business:
Social responsibility is very important for companies to be successful in business in the long run, as responsibility in recent years has taken a turn in business, businessmen themselves are the ones who express that it has evolved the ethics of business by getting involved in the balances of social concerns of people. The term social is an important one for a better understanding of CSR as it goes beyond integrity.
Another importance of CSR is the preservation of the environment, to better use natural resources, trying to implement renewal, reuse and recycle, and also reduce waste.
Legislation in Ecuador
ISO 26000 - Corporate Social Responsibility
Companies and organisations do not operate without goals or objectives... ISO 26000 aims to give more guidance on how companies and organisations can better realise corporate social responsibility. As well as acting in an ethical and transparent manner to contribute to the health and well-being of society (International Organization for Standardization, 2000).
ISO 26000: 2010 provides guidance rather than requirements, so it cannot be certified unlike other well-known ISO standards. Instead, it helps clarify what social responsibility is, helps companies and organisations translate principles into action and shares best practices related to social responsibility, globally effective. It is aimed at all types of organisations, regardless of their activity, size or location.
The standard was launched in 2010, after five years of negotiations between many different actors around the world. Representatives from government, NGOs, industry, consumer groups and trade union organisations from around the world have been involved in its development, which means that it represents an international consensus (International Organization for Standardization, 2000).
Principles of corporate social responsibility:
Comply with the legislation in force at the time, and in particular international laws.
Be global in nature
Have ethical commitments
Business in relation to Human Rights
Commitment to the impact that companies can have on the social, environmental and economic environment.
In Ecuador, the application of ISO26000 has begun in some public and private sector companies, with its principles and applying its necessary concepts.
How to identify a socially responsible company?
It can be identified by several factors:
Respect for its employees
Supports the community
Cares for the environment
Pay taxes
Possessing values and ethics
Generates employment
The most important factor for a company to take into account is to demonstrate ethical and responsible behaviour.
How social responsibility is perceived in Ecuador:
A part of Ecuadorians consider that companies can be identified with socially responsible companies. To a certain extent almost 85% of people know what CSR means, only 70% of people believe that companies in Ecuador apply CSR. Companies that communicate or divulge that they are socially responsible, normally their intention is that people consume more of their products or services.
In conclusion, corporate social responsibility has taken a total turn, as companies not only implement projects, but also promote other companies to start applying it.
In Ecuador, it has been developing progressively in terms of the application of social responsibility, currently most companies in Ecuador apply it.
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