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Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community. [1] An organization can demonstrate social responsibility in several ways, for instance, by donating, encouraging volunteerism, using ethical hiring procedures, and making changes that benefit ...
Corporate social responsibility is defined as the ethos and practice of discovering, invoking, infusing, evoking, and radiating the human values of 'righteousness' (dharma) and 'love' (Prema) in an organisation's interactions with its stakeholders. [ 214 ]
Socially responsible business. 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 ...
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 viewed as ...
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 ...
Socially responsible investing (SRI) [a] is any investment strategy which seeks to consider financial return alongside ethical, social or environmental goals. [1] The areas of concern recognized by SRI practitioners are often linked to environmental, social and governance (ESG) topics. Impact investing can be considered a subset of SRI that is ...
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]
Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to ...