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Corporate social responsability - Coggle Diagram
Corporate social responsability
What is CSR?
Ethical obligation of companies
Balance profit making responsabilities
Society
environments
Adressing the impact of corporate activities
Local and global communities
Social and environmental consequences
Principles of CSR
Sustainability
Ensuring that current business practices
Not deplete resources needed for future generations
Accountability
Companies must take responsability
Social and environmental impacts of their actions
Transparency
Openly communicating corporate activities
Effects to stakeholders
Relationship between companies and stakeholders
Stakeholders
Anyone affected by a company's actions
Companies
Consider the interests of all stakeholders
Managing these relationships help companies minimize risks
Ensure long term success
Improve their reputation