Corporate social responsibility at the executive level
29 October 2010
There have always been organisations and professions which have supplemented their primary business activities with the ancillary role of ‘good citizen’ — whether through pro bono work such as that undertaken by lawyers and doctors or simply companies taking a ‘green’ stance, raising money for charities or doing work with local communities.
But it has only been relatively recently that the concept of corporate social responsibility (CSR) has arisen as a significant and regular part of a company’s bottom line. So much so, in fact, that such accounting is often referred to as triple bottom line also known as ‘people, planet, profit’ or ‘the three pillars’. The catchphrase captures a range of values and criteria beyond the normal performance measures of an organisation, covering organisational and societal success in ethics, social justice and environmental concerns. Sustainability is a key issue here, as shareholders often demand more than just short-term profits and, altruistically, dividends.
Full Article at: www.cio.com.au/article/366191/corporate_social_responsibility_executive_level
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