Corporate Social Responsibility

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Diversified Economy, Sustainable Future, Stronger Kuwait
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His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah: A Humanitarian Leader

Corporate Social Responsibility

A voluntary approach that a business enterprise takes to meet or exceed stakeholder expectations by integrating social, ethical, and environmental concerns together with the usual measures of revenue, profit, and legal obligation CSR is about how companies manage the business processes to produce an overall positive impact on society.

The World Business Council for Sustainable Development in its publication "Making Good Business Sense" by Lord Holme and Richard Watts, used the following definition. "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large" Social responsibility becomes an integral part of the wealth creation process - which if managed properly should enhance the competitiveness of business and maximise the value of wealth creation to society.


What IMF Said

Entrepreneurship is Engine of Growth

Gulf Economies Should Diversify to Sustain Strong Future Growth

  • Oil-based growth model in the Gulf led to rapid development, but with cost
  • Diversification is needed to reduce reliance on oil, support growth and jobs
  • International experience shows education, competition, incentives are crucial

Economic diversification is vital if the countries of the Gulf Cooperation Council (GCC) to sustain strong growth in the future.

The GCC countries have grown strongly and seen huge improvements in their development indicators, but they remain susceptible to fluctuations in oil markets and, hence, need greater economic diversification to help boost productivity and living standards, create jobs, and reduce the fiscal and external risks associated with the heavy reliance on oil revenues

said IMF’s Deputy Managing Director Min Zhu in his opening remarks

What European Commission Talked

Entrepreneurs are job creators. They lead many of the small start-ups generating 4 million new jobs created in Europe each year.
However, the EU lags behind its competitors in entrepreneurial attitude, indicating a potential for even more job creation. Only 11% of Europeans are entrepreneurs, while around 40% aspire to be their own boss . In the US and China more than half would like to be self-employed.
This relative reluctance to create new businesses has to change if Europe is to return to growth.

E & Y Global Job Creation Survey 2013:- A survey of the world’s most dynamic entrepreneurs.

Entrepreneurs are solid job creators.
The results shows, seventy percent of 2013 respondents plan to hire at home this year, up from 68% at this time a year before. Forty-seven percent intend to hire abroad in 2013, up from 44% in 2012. Either way, the job growth record is consistent, with 59% of our entrepreneurs telling us they intend to hire at home, abroad or both in 2013.