Corporate Citizenship and Community Engagement: Role of Corporate in CSR Projects

Abstract

The concept of corporate citizenship has acquired relevance in the past decade to incorporate a global focus and the concrete approach of the stakeholder theory into corporate social responsibility. Corporate citizenship and the role of corporations in society have been debated for centuries as their perceived role is significant in enhancing the socio-economic standards of the citizens. The corporate should not merely exist to gain profits but rather follow a moral or even ethical consideration for enhancement of broader societal goals. Corporations are usually powerful and wealthy actors in society and as such they have a moral obligation to act in such a way that aids their less fortunate fellow citizens. Corporate citizenship is the strategic direction of the company to monitor social, economic and environmental performance. The relationship between business and society has a correlation, as they are inter-dependent. Several business houses have recognized the importance of consumers and their purchasing power. There is a widespread perception that the corporate interventions are not aligned with the societal interests and not substituting the needs of the common man in the community. The corporate social responsibility is conceived as a welfare measure taking into account the interests of society, thus impacting the activities to a wide variety of stakeholders. Vibrant civil society and civic engagement is crucial as they are the drivers of change.