Home > Blossary: Corporate Social Responsibility CSR
Every business is usually meant for making business, i.e. making profit. Every business has too a duty to its community, whether it is to the workers by being a good employer, to the surrounding environment by causing harm as little as possible or to the share holders by delivering a reasonable return on investments, in all delivering the best to the stakeholders. Stakeholders are individuals or groups directly or indirectly affected by the Corporate culture, as well as those who may have interests in a corporate body or business or the ability to change its activities positively or negatively, such as : Business owners - Environmental activists - Governments - Trade Unions – Factory Workers – Raw Material suppliers – Point of Sale [POS] Customers. A company cannot thrive, grow without engaging its community, which includes its suppliers, its customers, its shareholders and members of the general public. The CSR shouldn’t be confused with Corporate philanthropy [loving mankind] like donating cash, foods, clothes to the have-nots, flood survivors or any disaster survivors. CSR is an umbrella concept covering various participating concepts, like Organisational Governance, Social Compliance, Social Responsibility, Corporate Philanthrophy, which include fields like Working conditions, Human Resources Management, Product Quality, Ethical Financing, Environmental protection, Community Welfare, Education & Health care, Donations to Good causes. There are some International Organisations and Programs providing and certifying CSR standards around the globe.

Category: Business

11 Terms

Created by: SharfuddinR

Number of Blossarys: 11

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Fair Labour Association FLA. Since 1999, FLA has helped improve the lives of millions of workers around the world. As a collaborative effort of socially responsible companies, colleges and ...

Domain: Business administration; Category: Business management

Fair Wear Foundation FWF is an independent, non-profit organisation that works with companies and factories to improve labour conditions for garment workers.FWF's 80 member companies represent over ...

Domain: Business administration; Category: Business management

Ethical Trade Initiative ETI is a leading alliance of companies, trade unions and NGOs that promotes respect for workers' rights around the globe. Its vision is to have a a world where all ...

Domain: Business administration; Category: Business management

It was founded in 1987 by Daniel Katz, who serves on its board of directors, and is led by President Tensie Whelan. The Rainforest Alliance is a non-governmental organization (NGO) working to ...

Domain: Business administration; Category: Business management

Business Social Compliance Initiative BSCI was launched in 2003 as an initiative of the Foreign Trade Association (FTA) in response to the increasing business demand for transparent and improved ...

Domain: Business administration; Category: Business management

REACH is the Regulation on Registration, Evaluation, Authorisation and Restriction of Chemicals. It entered into force on 1st June 2007. It streamlines and improves the former legislative framework ...

Domain: Business administration; Category: Business management

Global Organic Textile Standard GOTS. In 2002, the International Working Group (IWG), comprised of four reputable standard organizations, established the Global Organic Textile Standard (GOTS) at the ...

Domain: Business administration; Category: Business management

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