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Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development ...
Friedman doctrine. The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. [1] This shareholder primacy approach views shareholders as the economic engine of the organization and the ...
A socially responsible business (SRB) is a generally for-profit venture that seeks to leverage business for a more just and sustainable world.The objective of the SRBs involves more than just maximizing profits for the shareholders; it is also about creating positive changes and making valuable contributions to the stakeholders such as the local community, customers, and staff. [1]
United Nations Global Compact. The United Nations Global Compact is a non-binding United Nations pact to get businesses and firms worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. [3] The UN Global Compact is the world's largest corporate sustainability and corporate social responsibility ...
Social responsibility is an individual responsibility that involves a balance between the economy and the ecosystem one lives within, [3] and possible trade-offs between economic development, and the welfare of society and the environment. [4] Social responsibility pertains not only to business organizations but also to everyone whose actions ...
Overview. Socially responsible marketing is critical of excessive consumerism and environmental damages caused by corporations. It is based on the idea that market offerings must not be only profit-driven, but they must also reinforce social and ethical values for the benefit of citizens. The idea of socially responsible marketing is sometimes ...
A 2014 session by the United Nations Conference on Trade and Development promoting corporate responsibility and sustainable development.. Corporate sustainability is an approach aiming to create long-term stakeholder value through the implementation of a business strategy that focuses on the ethical, social, environmental, cultural, and economic dimensions of doing business. [1]
ISO 26000. ISO 26000:2010 Guidance on social responsibility is an international standard providing guidelines for social responsibility (SR, often CSR - corporate social responsibility). It was released by the International Organization for Standardization (ISO) on 1 November 2010 and its goal is to contribute to global sustainable development ...