International Organization For Standardization 's Guidance Standard On Social Responsibility

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There are hundreds of definitions of corporate social responsibility, or CSR. The one we think says it the best comes from the International Organization for Standardization’s Guidance Standard on Social Responsibility, ISO 26000, published in 2010. It says: “Social responsibility is the responsibility of an organisation for the impacts of its decisions and activities on society and the environment, through transparent and ethical behaviour that: •Contributes to sustainable development, including the health and the welfare of society •Takes into account the expectations of stakeholders •Is in compliance with applicable law and consistent with international norms of behaviour, and •Is integrated throughout the organization and practised in its relationships.” Corporate Social Responsibility or CSR has been debated since the early twentieth century, but there has been little agreement over its definition due to: •Differences in national and cultural approaches to business •Differences in motivation for CSR – doing it because it is morally correct or doing it because it makes good business sense •Differences in disciplinary backgrounds, perspectives and methods of scholars engaged with CSR Business View of CSR Business leaders and management scholars have generally understood CSR as a response to business failures that have accompanied the astonishing growth in size, impact and power of modern corporations. That growth is characterised by the separation of ownership from control and the rise of modern management techniques. While modern management has created great efficiencies, it has also led to a dilution of individual responsibility that is generally only visible when business gets into strife. Business failures in Australi... ... middle of paper ... ...tempered by the view that CSR would be useful to business if it could deliver business benefits. A strategic view of CSR is thus more prevalent among UK-based firms. The UK-based organisation Business in the Community (BITC) was established in 1982 in response to perceived failures of business against a backdrop of rising unemployment and urban rioting and attempts to integrate considerations of societal impacts into business strategy. In Europe, environmental considerations prevailed and the concept of sustainability may be expressed more than the concept of CSR. For example, environmental disclosures in company reporting are more prevalent than references to ethics. In Japan, CSR has traditionally been expressed primarily through benefits to employees and environmental reporting. In India, leading CSR companies such as Tata Steel view extensive social investment

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