CSR

• CSR refers to a company's commitment to operate in an economically, socially, and environmentally sustainable manner.
• Humanity is facing existential sustainability challenges such as temperature rising, annual emissions of climate-damaging gases rising rapidly since industrialization, and the need to achieve 1.5 Celsius target.
• The innovative character of social entrepreneurship is a process of creating value by combining resources in new ways, challenging institutionalized knowledge, emphasizing on entrepreneurial element.
• Initiating social change in social entrepreneurship is changing institutionalized thinking and behavior, which is resistant to change due to social construction.
• Scaling of impact in social entrepreneurship is increasing impact as priority, not necessarily through organizational growth, stimulating broader social change and transformation.
• The normative aspect of social entrepreneurship is the mission-based organizations; creation of improved social outcome as priority.
• The difference between targets adopted and the measures actually taken so far is significant.
• Scaling for impact in social entrepreneurship is increasing the impact to better match the magnitude of the social need or problem it seeks to address.
• Organizational growth in social enterprises can be achieved through improved productivity, experimenting with organizational focus, diversification and cooperation, and growth through replication or diffusion of conceptual ideas.
• Hybrid models in social entrepreneurship combine elements typically associated with business and charity or state, generally diversity of models and forms.
• Backwards mapping from the long-term goal by working out the preconditions or requirements necessary to achieve that goal and explaining why is a strategy in social impact.
• Social enterprises should make their Theory of Change explicit for investors/donors, internal alignment, and external communication.
• Corporate value creation is redefined, focusing on non-financial performance reporting (CSR, RUG), ESG performance ratings & rankings, and new regulations demand more transparency from companies.
• Information and transparency in CDR involves demonstrating openness in how businesses use personal data for the consumers to understand.
• Economic interest in CDR involves clarifying and potentially increasing the benefits customers receive in exchange for sharing their data.
• CDR is a set of practices and behaviours that help an organisation use data and digital technologies in ways that are perceived as socially, economically, and environmentally responsible.
• Education and awareness in CDR involves promoting understanding of the benefits and risks of digital technology among all members of the population.
• Sustainable HRM is closely linked to sustainable leadership.
• Privacy, safety, autonomy, human dignity and justice, and balance of power are the challenges addressed by CDR.
• Product safety and liability in CDR involves ensuring that digital products are safe and liable.
• Dispute resolution and awareness in CDR involves giving customers greater control over their data.
• Access in CDR refers to ensuring that everyone has equal access to digital technology.
• The 17 sustainability goals of the UN include gender equality, clean water, no poverty, zero hunger, and demand a transformation in business and society.
• Privacy and data security in CDR involves managing data, processing data, and communicating transparently.
• Key factors that should be taken into account while designing a framework for action in CDR include education and awareness, access, product safety and liability, economic interest, information and transparency, dispute resolution and awareness, governance and participation, privacy and data security.
• Corporate Digital Responsibility (CDR) is the voluntary commitment to ethical and responsible use and development of digital technology by corporations, a subset of CSR.
• Taxation refers to the practice of levying taxes on individuals and organizations by the government to fund public services and infrastructure, and includes various forms of taxes such as income tax, sales tax, property tax, and corporate tax.
• A company’s approach to taxes is not just about compliance; it has become a strong predictor of how an organization views its place in society and its dedication to its goals because taxes are the company’s contribution to society.
• Taxes pursue three different functions: revenue function, steering function, and redistributive function.
• Supply Chain Sustainability is companies’ efforts to consider the environmental and human impact of their products’ journey through the supply chain, from raw materials sourcing to production, storage, delivery and every transportation link in between.
• Sustainable SCM adds the goals of upholding environmental and societal values and aims to minimize environmental harm from factors like energy usage, water consumption and waste production while having a positive impact on the people and communities in and around their operations.
• Use intelligence and pre-defined rules to ensure that products aren’t being shipped unnecessarily, for example, making sure products are sent from closest distribution centre.
• CSR aims to make a business accountable and is a voluntary action that organizations take to address social and environmental concerns beyond their legal obligations.
• Environmental factors in ESG criteria include carbon emissions, air & water pollution, waste management.
• For most companies, the supply chain is responsible for the bulk of their environmental impact and by their very nature, supply chains often involve energy-intensive production and transportation as goods are made and moved around the globe.
• ESG improves the valuation of the business and successful ESG incorporation requires audits & setting measurable goals.
• ESG criteria provide a quantitative measure of assessment for investors and refer to a set of criteria used to evaluate the sustainability and social impact of an organisation’s operation.
• Social factors in ESG criteria include employee gender, diversity & inclusion, data security, human rights, working conditions, and tax.
• The Circular Economy aims to minimize waste and maximize resource efficiency.
• By tracking sustainability metrics in SCM, companies can monitor multifaceted programs that, e.g., prioritize renewable energy, recycle products & materials, or encourage greater social responsibility among suppliers.