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Corporate social responsibility: theoretical framework and practical implementations


Corporate Social Responsibility (CSR) stands as a beacon guiding businesses towards ethical and sustainable practices. Rooted in a theoretical framework that emphasizes the integration of social, environmental, and economic considerations.

 

At its core, CSR theory posits that businesses have a responsibility not only to shareholders but also to society at large. This entails conducting operations in a manner that benefits stakeholders, respects human rights, and mitigates environmental harm.

These may include philanthropic endeavours such as donations to community organizations, employee volunteer programs, or sustainable supply chain management practices that prioritize ethical sourcing and production.

 

Companies committed to CSR uphold principles of accountability, engage in dialogue with stakeholders, and disclose relevant information regarding their social and environmental impact.

 

In recent years, CSR has evolved from a peripheral concern to a strategic imperative for businesses across industries. Increasingly, consumers, investors, and employees alike demand ethical behaviour and sustainability commitments from corporations.

 

In conclusion, the theoretical underpinnings of CSR inform its practical implementations, driving businesses to adopt policies and practices that align with broader societal goals. Ultimately, CSR represents a powerful framework for fostering a more inclusive, equitable, and sustainable future for all.

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