Lesson 1

KEY CONCEPTS

• Social responsibility: means that individuals have a duty to act in the best
  interests of their environment and society as a whole.
• Corporate Social Responsibility (C SR): a company’s commitment to
  manage the social, environmental and economic effects of its operations
  responsibly and in line with public expectations.

What this video about corporate social responsibility.

 

Social Responsibility

The meaning of social responsibility
Being socially responsible means that individuals take responsibility for the effects of their behaviour and lifestyle on the environment and on others. Social
responsibility means that each person has a duty to act in the best interests of their environment and society as a whole and every individual and organisation can contribute towards the well-being of the community and the environment in which they live.
Some of the most common examples of social responsibility include: 

• Reducing our carbon footprints: a carbon footprint refers to how much carbon dioxide the activities a person or company emits. These could include direct emissions from fossil-fuel combustion, for example in manufacturing, heating, transportation, electricity, and the consumption of goods and services.
• Donations to charities: When you help others, it will empower you. You will also feel happier and more fulfilled.
• Volunteering in the community: this is a way in which a person or group of people in a community take part in voluntary social, charitable and environmental activities towards the betterment of a community. 

Corporate Social Responsibility (CSR)
Businesses are corporate citizens. CSR therefore means that businesses have social, cultural and environmental responsibilities to the community in which it operates.
The meaning of CSR
Corporate social responsibility is about businesses taking responsibility for their impact on society and the environment is also the way in which a business conducts its operations ethically and morally – that is, how they use human, physical and financial resources.
The purpose and goal of CSR [For enrichment purpose only.]
The purpose of CSR is to give back to the community and provide positive social value. This means that organisations make a conscious effort to make a positive impact and contribute to the long-term wellbeing and resilience of individuals and communities in which they operate, and to society as a whole. The goal of CSR is to have a positive impact on communities, consumers, employees, the environment and stakeholders. Businesses are increasingly turning to CSR to make a difference and to build a positive brand around
their enterprise.

How businesses can address socioeconomic issues