Studying the Sugar Production Process in Pakistan
1 Concept of Corporate Social Responsibility (CSR) I. CSR According to core economics every business works for maximization of profit. But it is also noted that every person, business and entity is responsible for its impact on the people linked to it both directly and indirectly and the space it evolves in. The social network of a corporation is not limited to but may include company’s stakeholders, employees, and customers, investors, suppliers, business partner, government and community. A business holds both tangible profits and intangible assets; the intangible holdings include its reputation, goodwill, responsibility etc. A corporation is judged on both the tangible and the intangible. CSR practices focus upon the businesses to work towards public interest by development and growth of the community. The concept of CSR is still not fully contextualized in Pakistan however on some levels work has begun at least. A number of multinational companies are seen to be bringing in CSR practices along with other innovative technologies from the developed countries into the developing countries. In Pakistan the concept being comparatively fresh is not understood correctly; the approach is mystified with philanthropy. It is clear that adoption of CSR strategies requires changes on all grounds of the organization; from the mechanical procedures to the culture and values. Even in fields where there is awareness of the CSR concept the companies choose to insert simple philanthropy instead of producing intricate CSR models and strategies. It must also be taken into account that in Pakistan there persist no laws or
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