Seeing that what parades itself as Corporate Social Responsibility (CSR) today is nothing but Corporate Philanthropy, CSR is thereby really definable as a holistic framework in which a business operates.
True CSR can only be effective in Nigeria by offering services that will improve the standards of living of users of their products. This can either be by providing jobs or by enhancing workers’ quality of life by paying a living wage rather than basic wage. This alleviates poverty and is a typical practice of good CSR.
Furthermore, true and effective CSR policy in a company is talent acquisition and being sensitive to the environment.
Examples of good CSR can be seen in Coca-Cola through the competitions that are being sponsored in Kenyan universities, its conscious decision to change its supply channels in order to afford local businesses the opportunity to work with them and environmental consciousness seen in its importing of products in containers that can be converted into stalls.
Due to lack of accountability for CSR in Africa, it is difficult to measure how companies are doing in fulfilling the objectives of true CSR. However, the Global Reporting Initiative remains a good international standard.
So, do companies have the capacity to make the world better? Yes. This can be done by ensuring the sustainable impact of their corporate operations.