Until fairly recently, most established, well-known corporations have the drive and one goal in mind. And that is to earn profits they have lost during the global pandemic. However, they have also recently found how helpful a CSR program in Singapore can get. It does not only help boost the profits of most companies but also initiates something to do the best for the people, world, and society.
Maximising profits was at the heart of every action pursued or initiative taken. To help you work on the best charity organisation in Singapore, below are the four types of corporate social responsibility.
1. ENVIRONMENTAL RESPONSIBILITY
The most common CSR type in Singapore is environmental responsibility. Engaging in environmentally friendly practices can include decreasing pollution, regulating renewables, planting trees, donating to environmental causes or fundraisers, using fewer gas emissions, reducing water consumption and waste, and the like. The aim of environmental stewardship is to have a greener impact on the environment.
2. ETHICAL RESPONSIBILITY
Being ethically responsible means operating in a fair, ethical manner. If you are planning an ethical-centred CSR program in Singapore, your focus should be more on treating everyone with utmost respect and fairness. Some usual forms of ethical responsibility are equal compensation, setting a higher minimum wage, and equivalent comprehensive benefits.
3. PHILANTHROPIC RESPONSIBILITY
Another CSR program is philanthropic responsibility, which aims to make the globe a better place for its people. This responsibility starts with businesses contributing a portion of their earnings to a non-profit organisation or a children’s charity in Singapore. This philanthropic responsibility can be as small-scale as donating to a fundraiser to as large-scale as creating their own charitable trust to give back to society.
4. ECONOMIC RESPONSIBILITY
Economic responsibility is another CSR program in Singapore. Like the three mentioned types, it also aims to do good for the people, but focuses more on backing all of its financial decisions to do good deeds for the people, not just making more money. The goal is to ensure that business operations positively impact the environs, society, and world. Some common examples of economic responsibility are doing business with manufacturers of sustainable materials and fair compensation that makes up for differences within the company, such as past gender and race pay gaps.
Ready to work with a charity organisation in Singapore for your upcoming CSR project and make the world a better place? Contact Singapore Children’s Society.