CSR, a critical tool for development

Globally, Corporate Social Responsibility, CSR, has continued to impact the people, in deed, serving as a tonic for development. That is why countries and corporate organisations have continued to key into it as a veritable medium for impacting lives.

In fact,in a world where economic performance, growth and development are defining business success, companies are also challenged to ensure their environmental and social impact lead to a sustainable growth and development.

Patrons of brands are becoming more mindful of where to spend their money. While many brand owners are fulfilling parts of their CSR model, a few of them are truly embedding corporate it into their business model; and in a way, responding to the expectations of consumers.

The trend has moved from a slow growth and a stagnant population to an era of sustained economic growth. Although, the government plays a key role by way of providing the enablng environment for a sustainable business, private sectors remain the engine room for economic growth and development.

Indeed, CSR is still one of the medium, owners of brands can engage in, and contribute to the growth and development of a nation.

Daily Times checks showed that every now and again, the media reports yet another example of CSR. While the act receive applauds in some quarters, others are of the opinion that, most of what is reported cannot be measured as real corporate social reason-ability leading to growth and development of a nation.

It is events, such as these, that have led to calls by analysts for corporations to take their social responsibilities as seriously as they pursue their economic objectives. However, other scholars subscribe to the theory of the firm, whereby activities have to be directed towards delivering shareholder value.

Another area that analysts believe is causing lots of issues is the youth demography. For these analysts, one of the biggest problems facing the youths today, is the unequal access to opportunity and the lack of emphasis on education.

In order for reap economic growth, younger population must have access to quality education, adequate nutrition and health.

Therefore, growth opportunities, through youth development initiatives, if tapped and nurtured appropriately could induce remarkable societal changes and impact lives.

Nigerian youth is facing acute pressure from getting a job to performance at the workplaces. There is need to create a productive workforce that can make a significant contribution to Nigeria’s economic development. One of the ways to build such workforce, is to provide enough opportunities for education, skills’ development and entrepreneurship.

Commenting on this issue, a public affair commentator, Abiodun Aremu said; “One of the sustained ways of addressing poverty is youth skills’ development. It goes a long way as skills can be used to earn livelihood, assist others and even invest for future use. Skills can be equated with long lasting empowerment. A significant step is to reduce the rural and urban gap, especially in educational infrastructure and attitudes to education. Catching and training them young, is a priority.

“It could be extremely precarious to leave out youth without proper skills set and training. Alienation from employability and job opportunities, could invite youth towards crime and create anti-social elements. Therefore, it is critical to build formal institutional mechanisms to address skill development programs. Technical education should aim at raising skilled workforce that is employer ready.”

According to him, “Corporate bodies, through their corporate social responsibility programes that ensure a spirit of entrepreneurship should be inculcated right from the school to create more jobs than job seekers for a vibrant economy.

It helps youth engage in innovation, production, distribution, consumption, regeneration, and etc. Systemic linkages have to be established to link education with training, placement and real life scenario to survive and sustain in the competitive world.”

Also speaking to Daily times on this issue, a brand marketing g analyst, Adewale Okoya said; “Youth are powerful. They represent courage with wisdom and energy with will power to take leadership. The energy and wisdom have to be respected, guided and nurtured for future roles. Youths need to be in leadership role. Youth can be antidote to bad governance and corruption. They have power to change. Education programs should aim to teach young minds right from the school level; the importance of choosing right people who would take charge of governance is very key.”

He said, “Conventionally, youth have been asked to keep away from politics. Youth should be motivated to consider politics as a means to serve the nation. They should be oriented on anti-corruption drives with focus on prevention, education, and strategies for fighting corruption. Good governance is realistic with youth empowerment.”

He said that, new economy brings fresh challenges along with economic development. Therefore, to create better work life balance and take up future challenges, brand owners, through their corporate social responsibility , must ensure that, youth is equipped with information on health, nutrition and preventive care. Concerted and outreach programs have to be taken up right from school age. A segment of disengaged youth could be a serious concern for the growing vibrant economy.”

According to him, “Public funds are insufficient to cover the amount of efforts required; and it’s the right time for non-government organizations, corporate and philanthropists to contribute towards the grander efforts in making youth engaged, employable and inclusive in creating balanced economy.”

For him, CRS is a wonderful opportunity for corporate set ups to undertake various initiatives to promote youth empowerment. He said companies can take up activities to promote education and employment enhancing vocation skills and livelihood enhancement projects.

According to him, “Celebrating national Youth Day will instill confidence among the youth of the times that their empowerment will go a long way in achieving national dreams.”