Corporate Social Response

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Corporate Social Responsibility - What does it mean?
CSR is about how companies manage the business processes to produce an overall positive impact on society.
The World Business Council for Sustainable Development in its publication "Making Good Business Sense" by Lord Holme and Richard Watts, used the following definition. "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large
Take the following illustration:
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Ultimately, it is about delivering improved shareholder and debtholder value, providing enhanced goods and services for customers, building trust and credibility in the society in which the business operates, and becoming more sustainable over the longer term. Is there a business case for CSR , and if so, what is it?
While there are different ways to frame the benefits because they are interrelated, they generally include the following: * stronger financial performance and profitability through operational efficiency gains * improved relations with the investment community and better access to capital * enhanced employee relations that yield better results respecting recruitment, motivation, retention, learning and innovation, and productivity * stronger relationships with communities and enhanced licence to operate * improved reputation and branding
Stronger Financial Performance and Profitability
Businesses can use CSR and corporate sustainability to produce direct benefits for the bottom line. For example, operational efficiencies can be achieved through reducing energy and materials as input factors for production. Wastes can also be reduced and materials can be recycled. These sorts of actions from eco-efficiency can produce concurrent environmental and economic benefits for
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