In my project I am going to research information about Social Reporting in 3 different companies (Nestle,Co-operative bank and) to analyze and evaluate data to refer to what extend I think that social reporting is essential for businesses nowadays.
In my opinion CSR is defined as voluntary activities undertaken by a company to operate in an economic, social and environmentally stable way by maximizing the positive impact of business on society and minimize the negative one. The wider aim of CSR is to create higher and higher standards of living, while saving the profitability of the business, for people both within and outside it. In other words it is a process to achieve sustainable development in societies therefore CSR is not about (following?) the pet interest such as saving the whales, it 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. CSR concepts have been applied for years through quality and have proven their practicality and profitability while emphasizing sustainable performance through valuing people and society. Therefore the right thing for business and the ethically right one becomes one and the same. There are 4 types of CSR:
1) Economic responsibilities (“Be profitable”) Companies are responsible for production of goods and services for generating profit for its shareholders and gaining a strong competitive position in return. 2) Legal responsibilities (“Obey the law”) Companies obligation is not just to be profitable and give the maximum to its shareholders but also to follow the various laws and regulations to which they need to comply with to fulfill their economic mission within the framework of legal requirements. 3) The Ethical Responsibilities (“Be ethical”) A business organization has the obligation to avoid harm and to do what is right, just, and fair,...
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