Corporate social responsibility, often abbreviated “CSR,” is a corporation’s initiatives to assess and take responsibility for the company’s impact on environmental and social wellbeing. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups.
CSR may also be referred to as “corporate citizenship” and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change.
CSR is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders.
The way it is understood and implemented differs greatly for each company and country. Corporate social responsibility addresses many and various topics such as human rights, corporate governance, health and safety, environmental effects, working conditions and contribution to economic development.
Corporate Social Responsibility London
Building a reputation as a responsible business sets you apart.
Companies often favour suppliers who have responsible policies.
Some customers do not just prefer to deal with responsible companies, but they increasingly insist on it.
Reducing resource use, waste and emissions does not just help the environment, it will save you money too.
A good reputation makes it easier to recruit, motivate and keep the best employees.
Activities such as involvement with the local community are ideal opportunities to generate positive press coverage.
Imagine spending a fortune on advertising and brand management only to watch years of work go up in smoke within a matter of days. CSR can reduce the risk of sudden damage to your reputation and sales. Investors recognise this and are more willing to finance you.
Whatever the definition we agree to use, Management Consultants London (MCL) , will work with you to drive change towards sustainability.
Corporate Social Responsibility
Seeks to use strategies to balance
People, Planet & Profit
Let MCL help you get it right for everyone
Corporate Social Responsibility Update
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- Private philanthropy grew 10% in FY23, CSR spending by 7%: Bain & Company and Dasra report
In FY23, private philanthropy — which includes corporate social responsibility funding by companies and donations from the wealthy and retail ...
- Edo, UNDP collaborate on investment promotion - Punch Newspapers
... investment desks in all local government areas investor inquiry and Corporate Social Responsibility portals and a comprehensive business directory.