corporate social responsibility (CSR) involves :: open and accountable business actions based on respect for people, community/society and the broader environment.
corporate social responsibility (CSR) is a key concern in operations management
The principles of CSR require a business to manage the effects of its activities on society/community and the environment, such that negative impacts are minimised.
i.e. Superannuation funds investing client’s money in ethical companies to ensure clientele
poor CSR will impact the Key performance indicators (KPI) of a business (i.e. revenue, share price)
The difference between legal compliance ethical responsibility:
legal compliance requires following distinct standards set by laws and regulations
Ethical responsibility extends beyond legal obligations, focusing on the intentions and good faith of the business
environmental sustainability:
environmental sustainability is :: to shape business operations around practices that consume resources today without compromising access to those resources for future generations
the business must be aware to the environmental affects from it’s operations