Comprised of seven states, the UAE demonstrates potential for significant growth. Seven prominent families rule the country under a non-democratic government, but as time passes, multinational firms are increasingly entering international business scenarios, and it has become naïve to dismiss the importance of corporate social responsibility (CSR). The majority of firms and the managers who run them are aware of CSR and corporate philanthropy as business terms, but few implement CSR as a regular part of business. UAE businesses realize the importance of CSR for their firms but are reluctant to invest money and other resources into CSR and include it in long-term planning. Many local organizations talk about CSR and its implications, but they have not yet converted words into action.
Study Objectives
Companies try too hard to implement CSR, and the problem is that companies lack a framework required to implement CSR according to the UAE’s unique environment. The purpose of this study is to increase awareness of CSR in the UAE, both globally and regarding implementation of CSR at a mature, well-developed stage. CSR in the UAE is in a nascent stage, requiring much more work to develop it further. Opening of international firms provided a great starting point for implementation of CSR. This study will to develop a definition and understanding of CSR in a UAE-specific context by analyzing current practices and the existing conceptualizations of CSR within various UAE firms. At the study’s conclusion, researchers and practitioners will know more about how UAE organizations can operate in a socially responsible manner that is both regionally and globally relevant and appropriate.
The first objective is to define and explore the definition of CSR and related terms within UAE organizations. Disparities concerning CSR practices between developed and developing countries are highlighted, with the help of extant literature and case studies. The challenges that industries may face while implementing CSR in their strategic plan are also explored.
Significance of The Study
To place the UAE as a prime destination for tourism, investment, real estate, finance, public relations, and marketing, the country must meet international standards of CSR and have the means to effectively implement it. As per international standards, it is the responsibility of an organization to give back to society and take care of its stakeholders. The largest challenge the UAE faces is the impact of industry on the environment. This study is significant in particular regard to the revelation of current CSR practices in the UAE, popular practices that are currently implemented, and practices that should be implemented in the future, and whether organizations are ready to make CSR part of their strategic visions over both the short and the long-term.