Using corporate social responsibility to build business
Corporate social responsibility (CSR) has been around for decades as a concept, known in different forms such as corporate citizenship or sustainable development. It focuses on key economic, social and environmental outcomes generated by a company’s activities and today CSR management should be part of day-to-day business.
One definition of CSR is “Business behaviour that creates the trust and commitment of stakeholders, both now and in the future”. However, there are many others and the consistent theme across them is that businesses now recognise that the success of their business can be both positively and negatively impacted by a much wider range of stakeholders.
CSR is increasingly moving from being perceived as feelgood corporate PR window dressing to being directly linked to core operational performance. Drivers are various but they include legal compliance (particularly for manufacturing and distribution firms) and organisations are also placing increased importance on environmental programmes to generate customer loyalty and brand affinity.
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- Operational guidelines on Banking Corporate Social Responsibility’ published by ABI
- Is Asia Taking Corporate Social Responsibility Seriously?
- The changing face of corporate social responsibility
- Will corporate social responsibility survive the bust?
- Big differences in perceptions of the success of corporate social responsibility efforts
