The Concept of Corporate Social Responsibility
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Corporate Social Responsibility (CSR) is a concept whereby companies integrate ethical, social, environmental, and other global issues into their business operations and in their interaction with their stakeholders (employees, customers, shareholders, investors, local communities, government), all on a voluntary basis. Boundless Study Guides
KEY POINTS
Proponents of CSR argue that socially responsible practices can have a positive impact on the bottom line, in ways including human resources recruitment and retention, risk management via reduced corruption scandals or environmental accidents, and brand differentiation.
Proponents argue that corporations make more long-term profits by operating with this perspective. CSR proponents may also argue for the recognition of a ‘triple bottom line’ that rewards social, environmental, and financial returns.
Critics may see CSR as unrelated to the primary aim of the business, to make a profit for its shareholders.
Critics may also see CSR as prone to forms of manipulation, such as greenwashing.
TERMS
shareholder
One who owns shares of stock. bottom line
The final balance; the amount of money or profit left after everything has been tallied.
Corporate Social Responsibility,... Social Responsibility Audits
Full text
Corporate social responsibility, also referred to as CSR, can be described as a process with the aim of embracing responsibility for the company's actions and encouraging a positive impact through its activities on the environment, consumers, employees, communities, and other stakeholders. That said, there are a variety of definitions for CSR, as well as critics and proponents of the concept (Figure 1).
Proponents of CSR argue that socially responsible practices can have a positive impact on the bottom line, in ways including human resources recruitment and retention, risk management via reduced
Corporate Social Responsibility (CSR) is a concept whereby companies integrate ethical, social, environmental, and other global issues into their business operations and in their interaction with their stakeholders (employees, customers, shareholders, investors, local communities, government), all on a voluntary basis. Boundless Study Guides
KEY POINTS
Proponents of CSR argue that socially responsible practices can have a positive impact on the bottom line, in ways including human resources recruitment and retention, risk management via reduced corruption scandals or environmental accidents, and brand differentiation.
Proponents argue that corporations make more long-term profits by operating with this perspective. CSR proponents may also argue for the recognition of a ‘triple bottom line’ that rewards social, environmental, and financial returns.
Critics may see CSR as unrelated to the primary aim of the business, to make a profit for its shareholders.
Critics may also see CSR as prone to forms of manipulation, such as greenwashing.
TERMS
shareholder
One who owns shares of stock. bottom line
The final balance; the amount of money or profit left after everything has been tallied.
Corporate Social Responsibility,... Social Responsibility Audits
Full text
Corporate social responsibility, also referred to as CSR, can be described as a process with the aim of embracing responsibility for the company's actions and encouraging a positive impact through its activities on the environment, consumers, employees, communities, and other stakeholders. That said, there are a variety of definitions for CSR, as well as critics and proponents of the concept (Figure 1).
Proponents of CSR argue that socially responsible practices can have a positive impact on the bottom line, in ways including human resources recruitment and retention, risk management via reduced