Corporate social responsibility (CSR) has become a fundamental aspect of businesses, encompassing various dimensions. These dimensions include the environmental, economic, social, and governance aspects of CSR:
- The environmental dimension involves companies going beyond legal compliance to make positive contributions to environmental quality, such as addressing climate change and greenhouse gas emissions.
- The economic dimension encourages companies to maximize the good they can do with their financial resources, such as paying employees above the minimum wage and supporting local economies.
- The social dimension focuses on mitigating disruptions caused by business operations, supporting education and training programs, and fostering positive relationships with local communities.
- The governance dimension emphasizes the importance of effective oversight to ensure adherence to company principles and policies, particularly in areas like bribery. The United Nations Sustainable Development Goals serve as a benchmark for measuring progress in CSR.
- Additionally, companies may include other components in their CSR programs, such as philanthropy, employee volunteerism, supply chain management, user privacy, and more, depending on their priorities.
(Source: Sarokin, D. (2020). Five Dimensions of Corporate Social Responsibility. Small Business – Chron.com https://shorturl.at/ciMP8)
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