Top 4 social responsibility in business in 2022

Author: www.investopedia.com

Date Submitted: 10/04/2020 01:05 AM

Average star voting: 5 ⭐ ( 58133 reviews)

Summary: Corporate social responsibility (CSR) refers to strategies that companies put into action as part of corporate governance that are designed to

Match with the search results: . Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them….. read more

Author: www.businessnewsdaily.com

Date Submitted: 11/06/2019 06:16 AM

Average star voting: 3 ⭐ ( 73754 reviews)

Summary:

Match with the search results: A socially responsible business is a generally for-profit venture that seeks to leverage business for a more just and sustainable world….. read more

Author: online.hbs.edu

Date Submitted: 04/25/2019 05:29 AM

Average star voting: 5 ⭐ ( 69113 reviews)

Summary: Social responsibility in business a way for a company to stay accountable and regulate their societal and environmental impact, and a broader term for corporate citizenship.

Match with the search results: Corporate social responsibility, or CSR, is a form of self-regulation that reflects a business’s accountability and commitment to contributing ……. read more

Author: www.pacificoaks.edu

Date Submitted: 01/10/2020 10:12 PM

Average star voting: 5 ⭐ ( 10565 reviews)

Summary: Despite the widely accepted ideal of “shared value,” research led by Harvard Business School’s Kasturi Rangan suggests that this is not the norm—and that’s OK. Most companies practice a multifaceted version of CSR that spans theaters ranging from pure philanthropy to environmental sustainability to the explicitly strategic. To maximize their impact, companies must ensure that initiatives in the various theaters form a unified platform. Four steps can help them do so: Pruning and aligning programs within theaters. Companies must examine their existing programs in each theater, reducing or eliminating those that do not address an important social or environmental problem in keeping with the firm’s business purpose and values. Developing metrics to gauge performance. Just as the goals of programs vary from theater to theater, so do the definitions of success. Coordinating programs across theaters. This does not mean that all initiatives necessarily address the same problem; it means that they are mutually reinforcing and form a cogent whole. Developing an interdisciplinary CSR strategy. The range of purposes underlying initiatives in different theaters and the variation in how those initiatives are managed pose major barriers for many firms. Strategy development can be top down or bottom up, but ongoing communication is key. These practices have helped companies including PNC Bank, IKEA, and Ambuja Cements bring discipline and coherence to their CSR portfolios. HBR Reprint R1501B

Match with the search results: Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility ……. read more