RTG believes in the synthesis of the numerous CSR definitions.
The most important principles and characteristics of corporate social responsibility:
- is a way of corporate governance – management commitment is essential and CSR is integrated into the day-to-day operation;
- is closely linked to the concept of sustainable development – the company contributes to the sustainability of the social and environmental system; CSR encompasses the principle, that a company is responsible for its decisions and impacts;
- assumes cooperation with the stakeholders – all those who are impacted by the company’s activity;
- interdisciplinary – it concerns the core business, employees, environment protection etc.
- voluntary, therefore, goes beyond legal regulations;
- - charity and sponsorship are only part of the CSR concept.
- contributes to the long-term sustainability of the organisation – to achieve social and consumers’ legitimacy social and environmental aspects are needed to be considered;
- improves the company’s standing, and helps to reinforce trust both externally and internally
- stakeholders’ benignity can be achieved (primarily civils’, local community’s, media’s) and can be used for defence in a crisis;
- may be a reason to build new relations with the stakeholders;
- strengthens employees’ loyalty, and boosts their innovative performance;
- increases efficiency, eases the general operation of the company – e.g. reduction of accidents, enhanced transparency,
- reduces risks;
- facilitates positive market differentiation (besides standing away within the sector can have negative effects).
- effective and successful CSR should be in line with the corporate strategy;
- deliberate strategy, focused programs are needed to exploit possibilities of CSR;
- CSR does not necessarily cause additional expenses for the companies;
- needs management support.
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