What is Corporate Social Responsibility?Corporate social responsibility (CSR) is a self-regulating business practice that measures the impact of an organization’s activities on society and the environment. This is achieved through transparent and ethical behavior that: Show
The Six Core Subjects Identified by ISO 2600:
CSR goes hand in hand with sustainable sourcing and helps:
CSR Themes and CriteriaEcoVadis defines the scope of corporate social responsibility Learn More About the Criteria in Our Comprehensive Methodology GuideHow to Implement CSR:
Benefits of Successful CSR Implementation:
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Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through
which a company achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line- Approach”), while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a distinction between CSR, which can be a strategic business management concept, and charity, sponsorships or philanthropy. Even though the latter can also make a valuable contribution to poverty reduction, will directly
enhance the reputation of a company and strengthen its brand, the concept of CSR clearly goes beyond that. Promoting the uptake of CSR amongst SMEs requires approaches that fit the respective needs and capacities of these businesses, and do not adversely affect their economic viability. UNIDO based its CSR programme on the Triple Bottom Line (TBL) Approach, which has proven to be a successful tool for SMEs in the developing countries to assist them in meeting social and environmental
standards without compromising their competitiveness. The TBL approach is used as a framework for measuring and reporting corporate performance against economic, social and environmental performance. It is an attempt to align private enterprises to the goal of sustainable global development by providing them with a more comprehensive set of working objectives than just profit alone. The perspective taken is that for an organization to be sustainable, it must be financially secure, minimize (or
ideally eliminate) its negative environmental impacts and act in conformity with societal expectations. Key CSR issues: environmental management, eco-efficiency, responsible sourcing, stakeholder engagement, labour standards and working conditions, employee and community relations, social equity, gender balance, human rights, good governance, and anti-corruption measures. A properly implemented CSR concept can bring along a variety of competitive advantages, such as enhanced access to capital and markets, increased sales and profits, operational cost savings, improved productivity and quality, efficient human resource base, improved brand image and reputation, enhanced customer loyalty, better decision making and risk management processes. What does the term Corporate Social Responsibility relate to?Corporate Social Responsibility (CSR) is the idea that a company should play a positive role in the community and consider the environmental and social impact of business decisions.
Which of the following does the term Corporate Social Responsibility relate to quizlet?Corporate social responsibility is the managerial obligation to take action to protect and improve both the welfare of society as a whole and the interest of organizations. a companies obligation exert a positive impact and minimize its negative impact on society.
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