Business Strategy - Collaborating to achieve Corporate Social Research Paper

Business Strategy - Collaborating to achieve Corporate Social Responsibility and Sustainability - Research Paper Example It is important that every sector of the society must co-operate with business to find solutions to such profound and complex challenges. Collaboration is the co-operation and co-ordination that is necessary between all business, government and non-government organisations to cope with all such challenges. It is a situation where people work towards attaining a wider goal beyond the boundaries of an organisation. Keeping in view the responsibility towards the economic development of the society, collaboration and partnership between different organisations seem to be more logical manner to maintain the flow of development. Collaboration can have the advantages of â€Å"improved access to resources, sharing of risk, increased efficiency, co-ordination and seamlessness† between different organisations and institutions (Murray et al 166). Collaboration is also imperative because it is not possible for a single organisation to deal with moral problems of the society like â€Å"po verty, crime and drug abuse†. Collaboration can take place between business organisations and governments or between governments and NGOs to address various social issues. Companies may often collaborate with governments and NGOs with the purpose of learning from their partners for their benefits and also for the benefits of the partnership. In the framing of the structure of the collaborations, the organizations should be careful in choosing a collaboration which would meet the objective of the CSR of the organization. In building the collaboration, special emphasis should be provided to maintain relationship between the units with which the business houses are collaborating. Various strategies also have been framed for the better utilization of the collaboration process (Murray et al 161-174). Every organization is responsible to the society and its