On March 7, 2024, the Head Department International Business and Trade in the Faculty of Tourism, Hospitality and Languages, Dr. Denis Nuwagaba said, Corporate Social Responsibility (CRS), is a voluntary initiative by businesses aiming at making a society better place to live, operate and thrive.
Firms acting responsibly beyond the compulsory compliances. This was during the weekly webinar organised by the Entrepreneurship Innovation and Incubation Centre (EIIC), “CRS Pyramid include Philanthropic, Ethical, Legal and economic responsibilities.
Every business must look for its economic interest, the voluntary initiatives must come at the agency of the firm being able to fulfill its economic responsibility. Economic responsibility is when you are investing in entrepreneurship since one wants to make profits and that is what an entrepreneur must fulfill.” Dr. Nuwagaba said, the society is very in need of businesses that are responsible, and cautious to the needs of the people, in order to have an impact in society.
The kind of products that one can sell, can have a corporate social responsibility behind it, a possibility that goes beyond the profits, and beyond legal
requirement. He called upon participants to ensure that they support government initiatives to recycle reuse, package their product with biodegradable products and engage in neighborhood cleaning exercise.
