Beiträge zum islamischen Recht IX
Edited By Bruno Menhofer and Dirk Otto
Corporate Social Responsibility in Egypt, Lessons learned
By Sherif El Saadani, LL.M, Attorney at Zaki Hashem and Partners, Cairo, Egypt
Corporate Philanthropy is now considered an important line item in the agenda of every public relations department in Egyptian companies that can afford to operate one. Meanwhile, a coinciding trend of sponsoring/funding non-profit social programs is increasingly gaining popularity among companies in Egypt. This trend could be viewed as an attempt by Egyptian companies to follow the increasing global phenomenon that is Corporate Social Responsibility. Corporate Social Responsibility (CSR) is a term used to refer to modern standards of corporate philanthropy that have proven to achieve better results for the welfare of society as a whole. This article aims to illustrate the principles of CSR; the appraisal of CSR practices worldwide and particularly, in Egypt; the monitoring of previous and current endeavors to support CSR in Egypt; and finally to recommend efficient steps of change to the current CSR approach of the Egyptian government.
Peter Drucker said: “If you find an executive that wants to take on social responsibilities, fire him. Fast.”1
In his controversial and significantly often cited article The Social Responsibility of Business is to Increase its Profits in the New York Times (1970), the Nobel Prize winning Economist, Milton Friedman, described businesspersons that claim a social responsibility for corporations as “unwitting puppets of the intellectual forces that have been undermining the basis of a free society”.2 For...
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