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Corporate Social Responsibility (CSR) - Coggle Diagram
Corporate Social Responsibility (CSR)
definition
is a self-regulatory business model practiced by large and small companies
be socially accountable to their stakeholders and the public
By adopting clear CSR strategies, companies accept responsibility for their impact on society – including all economic, social, and environmental aspects
CSR has the power to improve business performance as a whole, if you are in it for the long run
how you can show
know about the issue of the society
sustainable/environmental standards (solar energy, electro cars)
labour standards/rights
anticorruption -> legal business
human rights - no childrens work
what a business gain
reputation
more customers
potentail employees
cost will be eliminated by more profit
increasing portrait to the press
non voluntarily
CO2 certifications
EU
climate agreement
minimum wages
greenwashing
bad CSR
VW - fake the numbers of Diesel emission
Nike - working conditions
good CSR
Why governments have to enforce regulations