Corporate Social Responsibility

• Corporate Social Responsibility (CSR)


  "The continuing commitment of a business to go above and beyond its legal obligations to make a positive difference to the environment, the community and the people who work for it"

  • To be socially responsible a business must not simply abide by the laws and generate the largest profit possible;
  • A business must go above and beyond its basic legal requirements to improve the welfare of its stakeholders, including its employees, customers and the wider community.
• The triple bottom line

  • Economic responsibility
  • Social responsibility
  • Environment responsibility
• Economic responsibility

  • Companies should commit to focusing as much on social and environmental concerns as they do on profits
• Social responsibility

  • Impact on the local and wider community, such as employees or the community around the business location
• Environment responsibility

  • Impact on the environment and resources
• Examples of CSR

  • Implementing policies to protect the natural environment in all business activities
  • Adopting policies to ensure workers' rights are protected and that employees are not taken advantage of due to their culture, education standard, religion or beliefs
  • Business "gives back" to the community in which it operates, whether it be financially though sponsorships or other means, through to implementing a volunteer program whereby staff volunteer their time and capabilities to a community activity during normal working hours
• Benefits of CSR

  • Enhancement of the organisation's reputational and brand image
  • Employee attraction, loyalty and retention
  • Customer loyalty
  • Innovation

  All of which leads to improved profitability and a less risky business model
• Where does the pressure come from to adopt CSR practices?

  • Employees
  • Customers
  • Shareholders
  • The Community
  • The media
  • Suppliers