Name: What is Corporate Social Responsibility?
Uploaded: 2020-02-04T05:10:18.000Z
Duration: 2 min 30 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Sustainability, Corporate Social Responsibility (CSR) and “Green Business” are key topics

of discussion in Government and around the board tables of big business, but what do

they mean and are they relevant to small businesses?

Concern about the social and environmental impact of businesses is increasing. We're

all being urged to use less energy, to reuse and recycle, and to 'go green'.

We're urged to think about the well-being of our employees and to take care how we choose

We're asked about how involved we are in our local community and what we're doing

And at the same time we're trying to grow our business and make a profit.

It doesn't have to be daunting. Ultimately CSR is about running your business in a responsible,

professional and sustainable way. It's about developing and maintaining good relationships

with everyone you deal with – employees, customers, suppliers, investors, funders and

The benefits are wide-ranging and it can have a very positive impact on your profile and

CSR involves 4 key areas that describe the scope of a business's responsibilities.

These are Economic, Ethical, Legal and Discretionary.

All four areas apply to all businesses and some issues within each of the areas, such

as being a good employer, are important to all businesses, regardless of size or type

Other issues may be specific to certain types of business and only apply in those cases,

for example, particular legislation may only affect a certain sector.

CSR is about embedding key principles and practices into your business – and there's

no better time to do this than when you're starting the business.

Small businesses by their very nature are flexible, creative and innovative. Restricted

budgets and limited resources mean that they are always looking for new and different ways

Positive CSR action is always likely to bring benefits and small businesses often see those

benefits and the impact of their actions in this area much faster than larger organisations.

Subtitles ListPlay Video

What is Corporate Social Responsibility?

ultimately

specific

relevant

positive