What is Corporate Social Responsibility (CSR)?
CSR as defined by UNIDO is:
A management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line- Approach”), while at the same time addressing the expectations of shareholders and stakeholders.
Responsible Companies in the age of globalization
How a company perceives its societal responsibility depends on various factors such as the markets in which it operates, its business line and its size.
In recent years CSR has become a fundamental business practice and has gained much attention from the management of large international companies. They understand that a strong CSR program is an essential element in achieving good business practices and effective leadership. Companies have explored that their impact on the economic, social and environmental sector directly affects their relationships with investors, employees and customers.
De La Rue, for instance, is a UK-based commercial banknote printer and security paper maker with over 200 years of history. They understand CSR well and are reporting their performance since 2011. You can visit their website for dditional information at: http://www.delarue.com/corporate-responsibility.aspx