Corporate policies are a set of predefined guidelines and plans agreed by an organisation. The policies are often formulated with a long-term vision. These corporate policies vary for each organisation depending on the nature of business. However, Corporate Social Responsibility forms an integral part of many organisational policies. Corporate Social Responsibility, though seems a social approach, highly benefits companies in financial performance. Apart from the charitable activities, this policy also deals with a lot of issues within the organisation.
Corporate Social Responsibility within an organisation largely depends on the departments of human resources, business development, public relations and marketing.
Human Resource policies are established to support the functioning of administration, performance of the management, relations with employees and proper planning of resources. The objective of these policies is to seek the company’s vision while benefiting the employees. The purpose is to describe in detailthe nature of the organisation with devised expectations and work procedures.
Risk Management is the biggest challenge for any organisation. Malpractices such as accidents or corruption within the organisation or in the society, by the company, or its employees, can ruin the reputation of the organisation. Such incidents affect the general public, and they lose faith in that organisation. So, certain public relation policies help the organisations handle risk efficiently.
Advertising and Marketing is another area where the conduct of the company is reflected to the customers. The advertising message should be built on moral values. Brands should concentrate on building brand loyalty among the customers. A potent and honest marketing policy is essential for an organisation to retain customers for a long time.
Manufacturing industries, construction companies and other such businesses include policies regarding the safety and health of the employees. Following government regulations, obtaining licence, being sensitive to the hazards on the environment and health of the people are also included in corporate policies.