Corporate Social Responsibility

(CSR) is a concept whereby companies take responsibility for their organisation’s social and environmental impact, and the integration of social and environmental concerns into their business operations. Responsible businesses are increasingly expected to act on a voluntary basis, beyond merely complying with statutory obligations, to meet the ethical expectations of their stakeholders in its environmental and social impact on the economy and society at large.

CSR

Offers business numerous key advantages in the market place as stakeholders require more transparent accountability for the way businesses address both its own corporate competitive interests and the interests of wider society. CSR means closer consultation with stakeholders leading to greater awareness of their needs. CSR can lead to greater efficiency, so enabling businesses to become more responsive in terms of product delivery and more competitive in terms of product quality. Consumers, shareholders, investors, employees, suppliers as well as government and other stakeholders are increasingly seeing Corporate Social Responsibility as a key factor in any successful business model. CSR thus requires companies to be ethically pro-active, well-managed and to have strong Governance Procedures to take responsibility for their actions, attitudes and values.

Corporate Responsibility

Is no longer seen as merely a reactive exercise in corporate public relations, but as a fundamental culture of environmental and social responsibility at the heart of responsible business, influencing all aspects of corporate stakeholder engagement. As consumers becoming more discerning and informed about issues surrounding Corporate Social Responsibility, well-communicated and relevant CSR is vital in building customer loyalty, enhancing business reputation and brand value. CSR can help with staff recruitment, retention and motivation, as well as stimulate innovation, build new markets and be an agent of change for advancing social and environmental gains in communities across the globe.