Corporate Responsibility; Corportate Sustainability
3 important questions on Corporate Responsibility; Corportate Sustainability
Corporate Responsiblity knows competing definitions, list one that was mentioned on the lecture slide and adapted from the European Commission, 2001.
A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis and in a context specific way.
When looking at Corporate Responsibility, 6 main ideas and their addressed key tensions can be distinguished, which are these?
- Stakeholder (shareholder vs stakeholder)
- Triple bottom line (economy vs social/environmental)
- Impact (internalisation vs externalities)
- Voluntary nature (legal/mandatory vs voluntary)
- Context-specificity (universal/global vs contextual/local)
- (Ethical and values-based) (moral vs amoral)
Within Corporate Sustainability, we start thinking about concentric circles, what do these tell us?
We have the economy that has to operate for the benefit of society and works within the planetary boundaries of the environment.
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