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CORPORATE SOCIAL RESPONSIBILITIES - Coggle Diagram
CORPORATE SOCIAL RESPONSIBILITIES
Ethical Responsibility
The pillar of CSR that is rooted in acting in a fair, ethical manner
Fair treatment to all types of customers regardless of race, culture and sexual orientation
Positive treatment of all employees, including favorable pay and benefits in excess of mandated minimums. This includes fair employment consideration for all individuals
Expansion of vendors to utilize different suppliers
Honest disclosure of operating concerns to investors in a timely and respectful manner/ Manage relationships with external stakeholders beyond what is legally required.
Environmental Responsibility
The pillar of CSR rooted in preserving mother nature
Reducing waste, natural resource consumption, and emission from its manufacturing process
Recycle goods and materials throughout its process, promote re-use practices with customers
Offsetting negative impacts by replenishing natural resources or supporting causes that help neutralize the company's impact.
EX: A company that deforests trees may commit to planting the same amount or more.
Choose to distribute goods in an environmentally friendly method
Financial Responsibility
The pillar of CSR that ties together the 3 other areas. A company may make plans to become more environmentally, ethically or philanthropically focused; however, it must back these plans through financial investments of programs, donations or product research
Research and develop new products that encourages sustainability
Recruiting different types of talent to ensure a diverse workforce
Initiatives that train employees on DEI, social awareness and environmental concerns
Process that are more expensive but yields greater CSR results
Transparent and timely financial reporting including external audits
CSR replace financial responsibility with a sense of voluntarism
Philanthropic Responsibility
Refers to how a company spends it resources to make the world a better place
Whether the company donates its profits to charities
Whether the company enters into transactions only with vendors and suppliers that align with the company philanthropically
Whether the company supports employee philanthropic endeavors
Whether the company sponsors fundraising events