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Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community. [1] An organization can demonstrate social responsibility in several ways, for instance, by donating, encouraging volunteerism, using ethical hiring procedures, and making changes that benefit ...
Corporate social responsibility. Employees of a leasing firm taking time off their regular jobs to build a house for Habitat for Humanity, a non-profit that builds homes for needy families using volunteers. Corporate social responsibility ( CSR) or corporate social impact is a form of international private business self-regulation [ 1] which ...
The Friedman doctrine, also called shareholder theory, is a normativetheory of business ethicsadvanced by economist Milton Friedmanwhich holds that the social responsibility of business is to increase its profits.[1] This shareholder primacyapproach views shareholders as the economic engine of the organization and the only group to which the ...
Corporate social responsibility (CSR) [6] 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 within the spirit of the law, ethical standards, and international norms.
Global Reporting Initiative. The Global Reporting Initiative (known as GRI) is an international independent standards organization that helps businesses, governments, and other organizations understand and communicate their impacts on issues such as climate change, human rights, and corruption. Since its first draft guidelines were published in ...
Social responsibility in marketing is often discussed with ethics.The difference between the two is that what’s considered ethical in terms of business, society and individually may not be the same thing––nor do all business actions necessarily have to be socially responsible in order to be considered ethical.
The professional disciplines included in the corporate responsibility field include legal and financial compliance, business ethics, corporate social responsibility, public and community affairs, investor relations, stakeholder communications, brand management, environmental affairs, sustainability, socially responsible investment, and corporate philanthropy.
A 2014 session by the United Nations Conference on Trade and Development promoting corporate responsibility and sustainable development.. Corporate sustainability is an approach aiming to create long-term stakeholder value through the implementation of a business strategy that focuses on the ethical, social, environmental, cultural, and economic dimensions of doing business. [1]