Abstract
Corporate Social Responsibility (CSR) is predicated on three organizational pillars of economic values, social values and environment values known as the “triple bottom-line”. This framework refers to an accomplishment of a win-win status quo amongst three units. Stakeholders within the Higher Education Institutions (HEIs) somehow have ways of enforcing organizations to comply with these triple bottom-line. However, profit making is not applicable to a considerable extent in (HEIs) funded by government, but accountability is of paramount importance. On the other hand, HEIs are facing challenges induced by labour market dynamics. This article is a based on the triple bottom line conceptual paradigm and reviews CSR and the importance of the paradigm for HEIs in community development for developing countries, using South Africa as a reference point. We relied on existing literature and our analysis suggest that HEIs need to take part in profitable relations with several stakeholders while integrating their visions and purposes into their CSR management agenda. For the reason that the structure of the community is somewhat complex because of diverse personalities with different levels of resource control; adopting CSR would benefit, appropriate integration of community development programmes.. Engagement through CSR will enhance mutual trust, reduce protest and help improve public image of the HEIs. Particular emphasis on HEIs support to economic welfare and social environs would be a value addition to community development.
Highlights
Development organizations for example, the United Nations, the World Bank and many others views Corporate Social Responsibility (CSR) as a prospective apparatus for generating development (Frynas, 2005)
As the public expectations of CSR endure and increase because of the bigger role Higher Education Institutions (HEIs) are playing in the public sphere, some HEIs are still looking for ways and means to incorporate CSR into their longterm business stratagems in a way that is advantageous to both education and society
Previous literature have not investigated in detail how CSR should be focused towards skills and uplifting of previously disadvantaged persons in the South African Society
Summary
Development organizations for example, the United Nations, the World Bank and many others views Corporate Social Responsibility (CSR) as a prospective apparatus for generating development (Frynas, 2005). The South African changing environment in which HEIs function and the challenges that higher education face comprise mass increase of higher education; reduction of state expenditure and support; diversification of financial resources; internationalization; commercialization; changes brought by technology development, the adaptation of core curriculum to accommodate and capitalize on labour market requirements These changes, no doubt have affectedthe quality of education, HEI autonomy, academic freedom and responsibilities towards society. According to Lin, the stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others It asserts that managers must satisfy a variety of constituents who can influence the firm's outcomes and addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory (Lin, 2018). The foundation for adopting this theory for this paper is that the discourse is around the framework of organizations’ social responsibility schedule to generate development within its host community
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