Emerging Challenges and Avenues of CSR during Covid 19 Pandemic. Why should companies do more CSR during the Covid 19 Pandemic
Emerging Challenges and Avenues of CSR during Covid 19 Pandemic. Why should companies do more CSR during the Covid 19 Pandemic?
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CHALLENGES AND AVENUES OF CSR DURING COVID 19 PANDEMIC
The COVID 19 has created a lot of unexpected pressure on business, with the survival of the firm being on the line in many cases. The COVID 19 has also disrupted the global economy and also hitted the profit ,this exceptionally difficult time for business had put their commitment to ethical business conduct and CSR to test, posing challenges to firms with regards to struggle of balancing the interest between stakeholders and their own business.
During this pandemic due to the pressure some of the firms wish to pursue their short term gains and they have reduced long term investment on CSR because of lack of resources and also the pressure of survival.However the pandemic also offers an opportunity for some firms to improve their contribution to CSR.
The main challenge was so many companies are struggling to survive and also some are having affected by huge losses so the contribution to CSR has reduced where as some giant companies had contributed a lot towards CSR .
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