Corporate Social Responsibility: A Helping Hand for a Better Belize
Corporate Social Responsibility can be defined as a commitment to improve the community’s well-being through discretionary business practices and contributions of company resources (Kotler & Lee, 2008). Corporate Social Responsibility has been gaining momentum and private sector engagement is at the helm. Amidst the challenge of developing a mutually beneficial relationship between the local community and private sector entities, there is a need for greater Government involvement. The conventional approach to corporate social responsibility used to be simply “Fulfilling an Obligation”. This traditional approach versus the new strategic approach to corporate philanthropy seeks to balance contribution with the concept of the greater good. Similarly, private sector resources and contributions have been stimulating our Belizean society and has been a major driving force in the development of our economy. In order for us to sustain and strengthen such inherent corporate social responsibility there must be a strong Government of Belize involvement in the relationship. No corporate entity can afford to be totally oblivious to the needs of a community of which it is a part. In fact, there is an ongoing global market pressure for companies to promote Corporate Social Responsibility. In Belize, private sector entities and the Government have contributed and continue to contribute to the social welfare of children. Recognizably, these contributions did not represent a coordinated effort amongst these entities. This paper is an empirical study on private sector engagement through Corporate Social Responsibility for Corporate Belize.
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