Corporate Social Responsibility In Business

 

 

 

Corporate social responsibility refers to efforts by businesses to work with shareholders in achieving better economic, environmental and social performance.

 

 

Factors responsible for implementing Corporate Social Responsibility in Business:

 

 

 

 

Community and Society :

The organization should play an active role towards the society

Environment :

The organization should take into notice that its working or operations does not causes a negative effect on the environment.

Supplier Relation :

 The Purchases made by an organization should not affect the social and moral values

Corporate Governance :

 Long Term  Social , Environmental and Economic impacts should be considered by an organization while making decisions

Employee Relation :

Employees are treated fairly within the organization

Human Rights :

The organization respects and follows every human right

 

 

 

 

Why CSR ?

 

A commitment to corporate social responsibility is a way to deal with a lack of trust in business , when there is trust then businesses may reduce risk relating to projects , involvement of shareholders in daily affairs , lawsuits  and social issues.

 If a company is committed to Corporate Social Responsibility then the Reputation of the company or Brand Value also enhances.

It will also reduce the chances of increased governmental regulation.

I would like to conclude that the corporate world has some of the brightest minds in the world and tremendous financial resources, so business should adopt social responsibility.

Example:

Wal-Mart has annual revenues that exceed the annual GNP of some countries. Thus businesses should utilize their resources to "make the world a better place."

“TOGETHER WE CAN AND WE WILL DO IT”

 

 

 

 

 

 

 

 

 

 

IBM Study: Corporate Social Responsibility

 

 

Reference:

http://www.international.gc.ca/trade-agreements-accords-commerciaux/topics-domaines/other-autre/csr-rse.aspx?lang=eng