Corporate Social Responsibility

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(Reporter #1; additional input…)

Corporate Social Responsibility

The broadest definition of corporate social responsibility is concerned with what is - or should be - the relationship between global corporations, governments of countries and individual citizens. More locally, the definition is concerned with the relationship between a corporation and the local society in which it resides or operates. Another definition is concerned with the relationship between a corporation and its stakeholders.

According to the EU Commission, CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with the stakeholders on a voluntary basis. The central tenet of social responsibility however is the social contract between all the stakeholders to society, which is an essential requirement of civil society. This is alternatively described as citizenship but for either term it is important to remember that the social responsibility needs to extend beyond present members of society. Social responsibility also requires a responsibility towards future members of society. Subsumed within this is of course a responsibility towards the environment because of implications for other members of society both now and in the future.

(Reporters #2 and 10; additional input)

The Principles of CSR

1. Sustainability This is concerned with the effect which action taken in the present has upon the options available in the future. If resources are utilized in the present then they are no longer available for use in the future, and this is of particular concern if the resources are finite in quantity.

Sustainability implies that society must use no more of a resource than can be regenerated. This can be defined in terms of the carrying capacity of the ecosystem and described with input-output models of resource consumption. Measures of sustainability would consider the rate at which

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