Main Principles of Corporate Social Responsibility - Term Paper Example

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The focus of this paper is on corporate social responsibility as the term commonly used in reference to the voluntary taking involvement of business organizations in the achievement of social and environmental objectives in the process of their day-to-day activities…
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Main Principles of Corporate Social Responsibility
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Download file to see previous pages CSR was first heard in the 1960s. At that moment very few organizations were involved in corporate social responsibility. This was the fact, CSR is a voluntary thing that only companies that want to be involved can. However, as time passed more business organizations started adapting CSR practices including CSR reporting. This is necessitated by the growth of sensitivity toward organizational social responsibility among consumers all over the world. The principle of legal compliance: this is the principle that expects all business organizations to comply with and understand international, local, declared, written, and effected laws and regulations that are applicable in their scenario. This kind of compliance and understanding should be according to specific procedures. This implies that companies should avoid involvement in any practices that are half compliant to the requirements stated by this principle. The Principle of Adhering to Customary International Laws: this principle expects business organizations to governmental and international agreements, declarations, executive regulations, covenants, guidelines and decisions in the process of formulating their CSR practices and activities. A company should make sure that their policies and practices are not conflicting with any of the factors that have been discussed herein. A policy of showing respect to related stakeholders lefts: according to this principle, companies are expected to accept and acknowledge the diversity that relates to stakeholders’ interests and lefts. Companies are also expected to accept and acknowledge the diversity that is likely to exist in their main and minor practices and products. This consideration should also include elements of business existence that might be of an effect of their stakeholders. ...Download file to see next pagesRead More
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