Summary Challenges Faced by an Enterprise in CSR Implementation
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Course
Finance
Institution
Indian Institute Of Management
Challenges Faced by an Enterprise in CSR ImplementationCorporate Social Responsibility (CSR) implementation can present various challenges for enterprises. Some common challenges include:
1. **Resource Allocation:** Allocating sufficient resources, both financial and human, to CSR initiatives ca...
challenges faced by an enterprise in csr implement
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Indian Institute Of Management
Finance
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Challenges Faced by an Enterprise in CSR
Implementation
An enterprise faces numerous challenges while practicing CSR activities.
These challenges may pose a hindrance in the process of strategic
management in an enterprise. Some of these challenges are explained as
follows:
● Lack of Transparency: Imposes a major hindrance in the authentic
implementation of CSR programs when enterprises do not disclose the
information regarding the CSR programs and funds allocated to
implement these programs. The lack of transparency may negatively
affect the trust between enterprises and communities. Transparency is
required in the following areas:
● Codes of conduct: Include worker’s right and environment protection
● Management standards: Include integrating social and environmental
aspects of an enterprise
● Evaluation: Involves internal reporting of CSR activities by an
enterprise
● Lack of Community Participation: Hinders the prospect of CSR
activities. Many countries have less knowledge about CSR; thus, it
leads to lack of interest by communities to participate with enterprises in
the CSR activities. For example, in case of India, enterprises do not
have adequate understanding of the CSR activities because they lack
tools, resources, and commitment to carry these activities. This in turn
results in lack of initiatives by Indian enterprises to undertake the CSR
activities at an extensive level.
● Lack of Non-Governmental Organizations (NGOs): Leads to a lack of
CSR activities as these activities are largely implemented through
NGOs. In other words, the presence of NGOs is important to accelerate
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