Corporate Social Responsibility: How it Can Benefit Your Business
Corporate social responsibility is a new buzz phrase that is being bandied about in the media and is beginning to have an impact on business decision-making. However, before anyone starts writing letters to the editor, it would be useful to review exactly what this term actually means and what the benefits are for every company that implements it. As its name suggests, corporate social responsibility is a strategy that involves ensuring that the corporation acts ethically in line with the expectations of stakeholders such as shareholders, employees and customers. The strategy could also include providing a range of public relations activities such as providing an annual report on the way in which the corporation has undertaken to ensure that its activities comply with the legal requirements of the relevant…
