Csr is a win/win approach
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Corporate Social Responsibility (CSR) has recently turned into a buzz word that is trending among all the savvy oil and gas companies all over the world. These companies are frequently caught publicizing the contributions they make to the economic development of their hosting communities, which focuses on ethical, philanthropic, and environmental practices. It is in this way that both the corporate sector and local societies can benefit from the CSR, which offers a space for a win-win outcome for both involved entities. It is one of the key CSR fundamentals to enrich both a company and its hosting community simultaneously. The intended win-win scenario entails that companies reflect on actual communal needs and address them in cooperation with affected societies.
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It could be thought that the word ‘corporate’ limits the application of CR principles and tools in RRI, because RRI deals with private and public investments. However, the three main corporate responsibilities -environmental, social and economic- are the same for publicly funded research and innovation (R&I) actors.
CSR meets Globalization
The document discusses the relationship between corporate social responsibility (CSR) and globalization. It notes that while globalization can increase income and prosperity through competition and knowledge transfer, it also presents challenges for ensuring standards for workers' wellbeing, wages, and safety. The document considers whether globalization presents an opportunity or threat for CSR and suggests that ethical practices that treat laborers fairly can have benefits, while unethical practices may negatively impact sales.
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Csr is a win/win approach
- 1. CSR a win/win approach Dr Emmanuel Daniel Faculty of Social Work
- 2. Synopsis Why CSR matters Advantages and Disadvantages of CSR Importance of CSR What's in it for the Society What's in it for the Business
- 5. Importance of Corporate Social Responsibility Demonstrates social responsibility Good practices Responsible products Consumers are aware of social responsibility Ethical operation Interest in wider social issues Operate sustainably Source- https://www.highspeedtraining.co.uk/hub/importance-of-corporate-social-responsibility/
- 6. What's in it for the Society Connecting corporate and company Wellbeing and betterment of society Making everyone feel safe Quality of products Waste management creates wealth and employment Source- https://www.avinashchandra.com/benefits-of-csr https://www.projectguru.in/importance-of-corporate-social-responsibility-to-societies/
- 7. What's in it for the Business Better brand recognition Positive business reputation Increased sales and customer loyalty Better financial performance Greater ability to attract talent and retain staff Organizational growth Positive media attention Reduce regulatory burden Identify new business opportunities Source- https://www.nibusinessinfo.co.uk/content/business-benefits-corporate-social-responsibility