Csr Csv
Business Ethics
Corporate Social Responsibility
Definition
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible Business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders.
History
A key relationship in the history of corporate social responsibility is the relative power between corporations and governments during particular economic periods. Although only in common usage since the 1960s, CSR has its roots in the Industrial Revolution – the birth of ‘big industry’ meant social structures, communities and ways of life were completely re-shaped over a relatively short period of time. In the late 18th century a Scottish philosopher and economist named Adam Smith wrote numerous articles on these subjects, his magnum opus being The Wealth of Nations in which he espoused the concepts of free trade and the free market on which the classic market economy was based. Smith’s principles were borne out. By the early 19th Century, new technology saw jobs being created and living standards improved. Unchecked by regulation businesses flourished and industrialists in Europe and the USA amassed huge fortunes. However few of these wealthy new industrialists were concerned about the wellbeing of their employees, society or the environment. The appalling conditions under which people worked were documented in the novels of Charles Dickens and inspired radical
Corporate Social Responsibility
Definition
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible Business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders.
History
A key relationship in the history of corporate social responsibility is the relative power between corporations and governments during particular economic periods. Although only in common usage since the 1960s, CSR has its roots in the Industrial Revolution – the birth of ‘big industry’ meant social structures, communities and ways of life were completely re-shaped over a relatively short period of time. In the late 18th century a Scottish philosopher and economist named Adam Smith wrote numerous articles on these subjects, his magnum opus being The Wealth of Nations in which he espoused the concepts of free trade and the free market on which the classic market economy was based. Smith’s principles were borne out. By the early 19th Century, new technology saw jobs being created and living standards improved. Unchecked by regulation businesses flourished and industrialists in Europe and the USA amassed huge fortunes. However few of these wealthy new industrialists were concerned about the wellbeing of their employees, society or the environment. The appalling conditions under which people worked were documented in the novels of Charles Dickens and inspired radical