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Definition of Social Responsiblity

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Definition of Social Responsibility
1.“Being a good corporate citizen means treating all of a company’s stakeholders (and the natural environment) with dignity and respect, being aware of the company’s impacts on stakeholders; working collaboratively with them when appropriate to achieve mutually desired results”.
2.“the commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life”. “corporate citizenship is about the contribution a company makes to society through its core business activities, its social investment and philanthropy programmes, and its engagement in public policy”
Characteristics of social responsibitlity 1. Ethical business behavior. The company is guided by rigorous ethical standards in all of its business dealings. 1) Engages in fair and honest business practices in its relationships with stakeholders. 2) Sets high standards of behavior for all employees. 3) Exercises ethical oversight at the executive and board levels.

2. 2. Stakeholder commitment. The company is managed for the benefit of all stakeholders: community, consumers, employees, investors, and suppliers. 4) The company is well-managed for all stakeholders. 5) Initiates and engages in genuine dialogue with stakeholders. 6) Values and implements disclosure. 7) Fosters a reciprocal relationship between the corporation and community. 8) Invests in the communities in which it operates. 9) Respects the rights of consumers. 10) Offers quality products and services. 11) Provides information that is truthful and useful.

3. Employee commitment 12) Provides a family-friendly work environment. 13) Engages in responsible human-resource management. 14) Provides an equitable reward and wage system for employees. 15) Engages in open and flexible

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