Corporate societal duty ( CSR ) . corporate administration ( CG ) . corporate citizenship and ternary underside line ( TBL ) became more or less synonyms for the emerging attempt to find the significance of ethical concern. In broadest sense. all these dockets aim to interpret the complexness and holistic theory of business-society interface into organisational worlds and operational scenes ( Lunheim. 2003 )
As a decision. it can be stated that the execution of the CSR docket imporoved the competitory advantage of the concern.
Aspects of CSR
* Internal Dimension
* External Dimension
These facets are adapted from the European Commission’s Green Paper ( Eurpean Comission. 2001 ) ; The Dow Jones Sustainability Group Index ( Knoepfel. 2001 ) . Mallenbaker ( 2003 ) and Kok et Al. ( 2001 )
CSR can function as a vehicle for concern betterment and edifice of competitory advantage for SMEs.
What is CSR? CSR is about how companies manage the concern processes to bring forth an overall positive impact on society.
What are the drivers of both initial and go oning SME battle? Drivers of both initial and go oning SME battle include personal involvement and fulfilment. a desire to implement merely good concern pattern. improved morale and motive. giving something back to the local community and heightening concern repute.
What are the chief barriers of farther battle? Fear of bureaucratism. clip and cost are the chief barriers to farther battle. but interestingly this is non the experience of most of the SMEs who are engaged. In other words. barriers tend to be built or perceptual experiences instead than world.
In order to run organisations productively yet in a socially and environmentally responsible manner. SMEs run a construct called CSR. This enables to accomplish concern sustainability and stakeholders satisfaction.
Knoepfel. I. 2001. Dow Jones Sustainability Group Index: a planetary benchmark for corporate sustainability. corporate environmental Strategy 8 ( 1 ) : 6-15
Kok P. Van der Wiele T. McKenna R. Brown A. 2001. A corporate societal duty audit within a quality direction model. Journal of Business Ethics 31: 285-297
Lunheim R. 2003. Operationalising corporate societal duty. In visions of Ethical Business. FT Prentice-Hall in association with PriceWaterHouseCoopers: London.