SOCIAL RESPONSIBILITY

• Corporate social responsibility


  A company's duty to operate in an honourable manner, provide good working conditions for employees, encourage workforce diversity, be a good steward of the environment, and actively work to better the quality of life in the local communities in which it operates and society at large
• The notion that corporate executives should balance the interest of all stakeholders, all communities in which they operate, and society at large began to blossom in the 1960s
• Corporate social responsibility programs

  1. Employ an ethical strategy

  2. Observe ethical principles in operating the business

  3. Make charitable contributions

  4. Support community service endeavors

  5. Reach out to make a difference in the lives of the disadvantaged
• Socially responsible business behavior

  • A company should balance strategic actions to benefit shareholders against the duty to be a good corporate citizen
  • A sincere commitment to observing ethical principles is a necessary component
• Social responsibility as it applies to Environmental Protection

  • Strive to be good stewards of the environment
  • Minimize or eliminate any adverse impact on the environment stemming from the company's own business activities
• Socially responsible companies


  • Exert extra effort to enhance the quality of life for employees both at work and at home
  • Establish workforce diversity programs
  • Ensure their workplaces are attractive to ethnic minorities and inclusive of all groups and perspectives
• Sustainable business practices


  Practices that meet the needs of the present without compromising the ability to meet the needs of the future
• Environmental sustainability


  Deliberate actions to protect the environment, provide for the longevity of Natural Resources, maintain ecological support systems for future generations, and guard against the ultimate endangerment of the planet
• Companies that take social responsibility seriously can improve their business reputations and operational efficiency while also reducing their risk exposure and encouraging loyalty and innovation