Over contribution to sustainable development, implying the

Over the past few years CSR, as a concept, has been the
focus of many deliberations and research. It has grown in importance both
academically as well as in the business sense. It captures a spectrum of values
and criteria for measuring a company’s contribution to social development. As
the term “CSR” is used continually, many complementary and overlapping
concepts, such as corporate citizenship, business ethics, stakeholder
management and sustainability, have emerged. These extensive ranges of
synonymously used terms indicate that multiple definitions has been devised for
CSR, mostly different perspectives and by those in facilitating roles such as
the corporate sector, government agencies, academics and the public sector.

A Widely cited definition of CSR in the business and social context
has been given by the European Union (EU). It describes CSR as “the concept
that an enterprise is accountable for its impact on all relevant stakeholders.
It is the continuing commitment by business to behave fairly and responsibly,
and contribute to economic development while improving the quality of life of
the work force and their families as well as of the local community and society
at large…

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

In other words, CSR refers to ensuring the success of the
business by inclusion of social and environmental considerations into a
company’s operations. It means satisfying your shareholders’ and customers’
demands while also managing the expectation of other stakeholders such as
employees, suppliers and the community at large. It also means contributing
positively to society and managing your organization’s environmental impact.
Hence, CSR is a contribution to sustainable development, implying the way a
company balances its economic, environmental and social objectives while
addressing stakeholder expectations and enhancing shareholder value.

CSR not only includes
the activities that a company undertakes in order to utilize their profits to
enable social and envirnomental development, but also includes the methods that
a company 

x

Hi!
I'm Joan!

Would you like to get a custom essay? How about receiving a customized one?

Check it out