CSR

Corporate Social Responsibility

World Business Council for Sustainable Development defines Corporate Social Responsibility (CSR) as “The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.” The European Commission advocates CSR as “Being socially responsible means not only fulfilling legal expectations, but also going beyond compliance and investing more into human capital, the environment and relations with stakeholders.

Benefits

Companies that embrace CSR actively help further their countries’ economic, social, and environmental development. Businesses adopt a CSR strategy voluntarily, primarily with their stakeholder groups, because they understand that, in the long run, good relations with the stakeholder universe will strengthen a company’s growth prospects and market share. CSR diminishes the risk inherent in any form of business operation. As well as complying with local tax, corporate, and labor laws, companies thus must meet high international standards if they wish to succeed in the global marketplace.

CSR practices have been gaining importance in developing countries as private-sector agents have come to realize that socially responsible behavior is one way to distinguish themselves from the competition, as well as a competitiveness element that enhances their market access, productivity, and risk management. Although large corporations have been the prime focus of conceptual development work on corporate responsibility and associated management tools because of their greater visibility and accessibility CSR is fully applicable to, and beneficial for, small and medium-sized enterprises as well, albeit with a different focus to take account of the typical features of these smaller operations.

Steps of Certification

Companies that embrace CSR actively help further their countries’ economic, social, and environmental development. Businesses adopt a CSR strategy voluntarily, primarily with their stakeholder groups, because they understand that, in the long run, good relations with the stakeholder universe will strengthen a company’s growth prospects and market share. CSR diminishes the risk inherent in any form of business operation. As well as complying with local tax, corporate, and labor laws, companies thus must meet high international standards if they wish to succeed in the global marketplace.

CSR practices have been gaining importance in developing countries as private-sector agents have come to realize that socially responsible behavior is one way to distinguish themselves from the competition, as well as a competitiveness element that enhances their market access, productivity, and risk management. Although large corporations have been the prime focus of conceptual development work on corporate responsibility and associated management tools because of their greater visibility and accessibility CSR is fully applicable to, and beneficial for, small and medium-sized enterprises as well, albeit with a different focus to take account of the typical features of these smaller operations.

How can ASCENT World help?

ASWO consists of full-time trainers and consultants having huge international experience and exposure in CSR consulting, implementation and training