Blossary – Corporate Social Responsibility CSR

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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Oeko-Tex Standard 100

The global standard is issued by the International Association for Research and Testing in the Field of Textile Ecology (Oeko-Tex) with headquarters in Zurich (Switzerland). It currently includes 15 ...

WRAP

Waste and Resource Action Program WRAP, a non-profit quango in the United Kingdom.WRAP was established in 2000 as an independent not-for-profit company limited by guarantee. It receives funding from ...

OHSAS

OHSAS stands for Ocupational Health & Safety Advisory Services.OHSAS 18001 (officially 'BS OHSAS 18001:2007') As ISO [International Organisation for Standards ]did not develop a ...

HACCP

Hazard Analysis & Critical Control Point or HACCP is a systematic preventative approach for Food & Phermaceutical safety that addresses physical, chemical and biological hazards rather rather than ...

GOTS

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 ...

REACH

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 ...

BSCI

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 ...