The responsibility of an organization for the impacts of its decisions and activities on society and the environment, through transparent and ethical behavior that: Contributes to sustainable development, including health and the welfare of society. Takes into account the expectations of stakeholders.
Working for the community, such as volunteering, giving blood donations, and working at a food bank or animal shelter. Supporting issues that affect society, such as advocating political or social issues that can help others—for example, advocating for child labor laws, purchasing fair trade products, recycling.
Social responsibility empowers employees to leverage the corporate resources at their disposal to do good. Formal corporate social responsibility programs can boost employee morale and lead to greater productivity in the workforce.
Generally, corporate social responsibility initiatives are categorized as follows:
The ultimate purpose of CSR is to maximize shared value among organizations, employees, customers, shareholders, and community members. While the precise value looks different for each of these stakeholders, the mutually beneficial nature of CSR initiatives can still be sustained.
Some clear benefits of corporate social responsibility are:
Keeping the school or college building and surrounding neighborhood clean, picking up the litter and putting it in the trash can, can be your one step as a socially responsible citizen. You can also keep a check on reducing energy and water consumption.
Corporate social responsibility (CSR) is a new idea, one in which the corporate sector incorporates social and environmental concerns in its strategies and plays a more responsible role in the world. ... If properly understood and executed, CSR is a win-win strategy that benefits the company, as well as society.
There are four key aspects of social responsibility: ethical, legal, economic and philanthropic. Businesses that have CSR policies first ensure they are accountable to themselves, their shareholders and their employees. In addition, they hold themselves accountable to their customers and the world around them.
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