Corporate Social Responsibility (CSR) is the option in today's global economy. More businesses are realising that profitability and social responsibility should be a combined approach. CSR has gained significant importance in Oman by all big organisations and small firms, as they want to contribute to the economy, society and environmental sustainability of the country.
In line with the government’s vision of a diversified economy in Oman Vision 2040, the approach to CSR is a key driver in influencing corporate policies and creating sustainable development. But what makes CSR significant in Oman, and how can businesses incorporate it into their long term strategies?
CSR is the framework that businesses use with the intention of contributing to social good. It covers environmental protection, local communities, ethical business practices, and employee welfare. CSR is not philanthropy; it is sustainable restatement of the economic-environmental-social system.
Companies from virtually all sectors in Oman, from oil and gas to banking, manufacturing retail, and tourism, are involved in CSR activities that support the social and economic objectives set by the country.
Thematic Areas of Oman Vision 2040: Economic Diversification, Social Well-Being and Environmental Sustainability. CSR initiatives that align with these national goals support businesses to create programmes for education and skill development for the youth.
Initiatives focusing on healthcare for public betterment, economic sustainability through promotion of indigenous entrepreneurship and SMEs.
Many Omani banks and corporations, for instance, offer funding, mentorship and training programmes for startups and small businesses as part of their initiatives to establish new job opportunities.
The Omani consumers are gradually becoming more aware of ethicality in business. Companies investing in CSR can enjoy the benefits of increased brand loyalty from conscious consumers, positive image on the corporate level which translates into better retention by customers. Companies with sound CSR programmes are more favoured than companies without it.
Given the challenges of water scarcity, desertification, and climate change facing the country, integrating environmental sustainability into business operations is a must. A lot of companies are doubling down on renewable energy solutions like solar and wind energy. Waste reduction and recycling programmes and water conservation measures to ensure sustainable resource management.
Corporate social responsibility is not only about donations and philanthropy; it also impacts employee happiness and retention. Businesses that implement CSR programmes centred around employee well-being benefit from higher job satisfaction, increased productivity and stronger employee loyalty.
Numerous Omani companies very much promote programmes of volunteering, means social join so as to build join around the business and a real cause. A number of Omani companies offer exemplary CSR programmes that others can learn from.
Omantel has been actively participating in multiple initiatives around education and digital empowerment, enabling telecommunications students and young entrepreneurs to acquire technological skills necessary for the future.
Oman LNG has contributed to the development of the health, education and infrastructure sectors, with thousands of Omani citizens benefiting from scholarships, medical programmes and job opportunities.
Bank Muscat is undoubtedly leading the sustainable banking agenda, but it also leading by example into proper financial management and responsible banking to the communities.
In order to make CSR impactful, the companies need to CSR, aligned with Oman Vision 2040 – Initiatives should support the national development goals.
Long-Term Sustainability – Devote to measurable and long-lasting CSR practices rather than just donating.
Connecting with local communities – Meet people where they’re at and design programmes that serve their needs on the ground.
Integrate CSR into Core Business Strategy – Make CSR an intrinsic part of corporate decision-making as opposed to a side project.
Use Tech for CSR – Use digital platforms to enhance transparency, engagement, and awareness for CSR activities.
CSR is no longer just a matter of conscience; it is a strategic investment for the future of Oman. Companies that strive to be socially and environmentally responsible will not only create a positive impact on society but also have better brand value, better employee engagement, and sustainable business in the long run.
CSR will significantly influence the country's business landscape as Oman transitions to a more diversified, sustainable, and innovation-led economy. It’s time for businesses to rise up—after all, the good business of today is the successful business of tomorrow.
Mohammad Anwar Al Balushi
The writer is a Senior Lecturer, Middle East College
Dr Mohd Irfan Rais
The writer is Asst Prof, Oman College of Management & Technology
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