Csrhub Com - A Brief On Social Responsibility

A for profit organizations primary goal is to maximize shareholder value

. However, no organization can operate in majestic isolation but is a part of the society as a whole. Any company or corporations goodwill is based not merely on their balance sheet, but also in the manner they handle their social responsibilities. Below is a brief explanation of different types of social responsibilities and ways to measure or compare responsibility ratings.

What is social responsibility?

Any individual or business entity that acts in a manner that benefits society on the whole is said to practice social responsibility. Social responsibility is non-binding, but is practiced when individuals or companies try to create a balance between attained material wealth and fulfilling their self-determined obligations towards society.

What is corporate social responsibility?

When a company or organization considers a broader range of stakeholders including employees, customers, communities and the environment, it is following corporate social responsibility. In certain cases, this action might be related to the nature of business of the company. For example, a company manufacturing chemicals might wish to plant trees or work towards environment conservation as a direct way to help society. Different companies use different avenues to fulfill their social obligations.

What is sustainability?

In general, sustainability means to endure through nourishment or renewal. There are various elements on earth that need to be sustained such as water, atmosphere, food, energy, etc. Since economic growth usually affects the environment in an adverse manner, most companies try to ensure that they reduce their environmental footprint to the maximum extent possible.

Most governments and social organizations including NGOs in different countries maintain pressure over companies to engage in effective corporate social responsibility and put in place a long-term sustainability strategy for a healthy monetary, environmental, and social growth.

It is very difficult for corporations and companies to measure, track, or compare their own efforts as responsible social entities with respect to others in their industry, websites have come up with ready reports and tools to help them understand their standing.

One such website is www.csrhub.com. This website delivers environmental, social, corporate governance and community ratings of nearly 5,000 companies across 135 industries in North America, Europe, and Asia. Companies can use this credible data as well as other tools to find out their own ratings and also compare their ratings with customers and competitors. This data helps companies calculate their own corporate social responsibility and sustainability rating as well as monitor their progress. The reports can be showcased to prospective clients, employees, board members, and stakeholders.

Companies that want to find out more about the above ratings can contact www.csrhub.com for further details.

by: CSR Hub

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