Six Main Characteristics of CSR Companies in Sudan
Characteristics of CSR Companies in Sudan
Corporate social responsibility (CSR) has gained global attention over the past decades, but its real value remains intangible. The definition of CSR is not clear, but it is a combination of economic responsibility to maximize profits, and discretionary responsibility to meet society’s needs. Today, companies face increasing pressure from their stakeholders to embrace economic, social, and environmental responsibilities. In Sudan, no research has been conducted to assess the CSR performance of telecommunications companies.
The study also found that most corporations are failing to live up to their commitment to CSR. The ECI measures how committed a company is to societal values. In addition to this, the CSR-corporated financial performance can be measured by several financial ratios. These include the return on assets, return on equity, return on sales, and profit margin. These metrics are a useful way to assess the success of a CSR project.
The study also found that the ECI for environment advocacy was 0.0. No one of the ten corporations analyzed showed a strong commitment to environmental issues. While environmental issues are a priority in Islam, they have little weight in the decision-making process for these companies. Nonetheless, it is noteworthy to note that environmental issues are becoming increasingly important to the people in Sudan. However, the study found that most DCs in Sudan failed to prioritize environmental issues in their annual reports.
Six Main Characteristics of CSR Companies in Sudan
The study found that CSR practices and mission statements of companies in Sudan vary widely. While many firms are committed to community values, the majority of them have fallen short of what they promise to do. A firm with strong CSR values would strive to ensure the fair distribution of wealth and social justice. In other words, a company with high ECI should not do business as usual. The average ECI is 0.35 and the firms should focus on these attributes.
Corporate social responsibility sudan
The first characteristic of a CSR company is its transparency. Its policies and practices in Sudan must be transparent and accountable. It should be open to the public and respect the culture of the community. Furthermore, companies should disclose the details of any activities that may affect the communities in the country. For instance, they should pay attention to the landowners in the area where they operate. It should compensate them for their land.
Among the companies that are committing to CSR, Kamla draws attention to the spiritual side of accounting and finance. In its annual report, ten of these firms begin by quoting Qur’anic verses related to riba, fair distribution of wealth, and commitment to social justice. In contrast, three of these firms did nothing to obtain a higher ECI.