Education is one of the tools used to gauge the social progress in a society as it leads to self-sustainability and equal development. It is thus being utilized by the business community to contribute to social objectives, such as societal development and human progress. This is evident from the number of multi-national corporations that are playing a role in improving the education conditions, especially in the developing countries, thereby reducing illiteracy and under-education (Doh & Tashman, 2014).
Corporate social responsibility, CSR is exercised through an establishment of corporate goals that lead to an ethical relationship and transparency with stakeholders to sustain societal development (Mullerat & Brennan, 2011). CSR enables a firm to gain a competitive advantage as well as a positive reputation. CSR has led to the elimination of textbooks in classrooms through online web-based curriculums that are updated more often than textbooks. Moreover, companies are subsidizing education as well as education charities, such as Room to Read, while others offer students online schemes whereby they can pay a dollar for language materials (Doh & Tashman, 2014).
Further, education funds have been established as CSR initiatives to donate to educational projects in countries that send students to further their studies abroad. Besides, through CSR companies have used information technology to offer opportunities for literacy and access to knowledge (Doh & Tashman, 2014). Companies, such as Google and Nike sponsor projects for the education of the young generation in addition to creating a culture of education that advances the quality of people’s lives.
CSR has changed the nature of learning in schools. This is being done through fostering the ability to analytically process and differentiate information out of the array of information available to learners as well as how best to use such information to cope with challenges in future (Mullerat & Brennan, 2011). Moreover, companies are funding the development of e-textbooks and online teaching resources that are reminiscent with the changing nature of future learning to bridge the education gap between the poor and the rich.