Csr(Corporate Social Responsibility)

MINISTRY OF EXTERNAL AFFAIRS

University of World Economy and Diplomacy

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THEME: CORPORATE SOCIAL RESPONSIBILITY IN THE CURRENT FINANCIAL CRISIS.

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Prepared by Mirzakulov Hojiakbar

0-3a-06

Responsible Mentor: Zakirova.S.A

Tashkent – 2009

Our skeptical world is becoming more and more complex; we are facing barriers, problems like corporate scandals, stock downturns, uncertain economy, and threat of terrorism every single day. Particularly the world economy is experiencing a strident downturn nowadays. The lack of the food and energy exposed earlier are worsening these problems.

It is natural that today, all people’s attention is focused on the current financial turmoil. And at the core of this crunch is a collapse of trust in the capital market. Whereas the lack of accountability, proper regulatory controls and transparency likewise the causes of the bankruptcy of the two American companies such as Enron, one of the world’s largest electricity and natural gas traders and World Com, one of the biggest telecom companies in the United States, played more or less role in this, the cornerstone of this crash is the chase for a short-term gains rather than long-term ones.[1]

All these disorders call for corporate social responsibility to expose itself and truth to be rebuilt in business world. Furthermore, it is crucial to perceive the very essence of the business in society. We all have to learn somehow lessons from the ongoing crisis and mess in the financial market make conclusions and to rearrange our schedules and plans to make profit in society. But it is true that the business deserves to make profit in market. To my way of thinking, to attain this objective is through the service to the interests of society. Enterprises do this by the wealth they generate, the jobs they create,...