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“Human design reveals your inherent gifts and talents to boost your performance”
30 de November de 2023
What Is Corporate Social Responsibility?
Companies have a significant impact on society. Their role extends beyond the mere sale of products and services or the creation of jobs and profits. They are part of an ecosystem and their actions leave a mark. This is why companies need to take an extra step and enhance their commitment.
The idea, which is gaining momentum in both the business and social spheres, is what’s known as corporate social responsibility.
What’s corporate social responsibility?
Corporate Social Responsibility (CSR) is a management concept in which companies acknowledge their responsibility for the impact they have on society and the environment, and they incorporate these concerns into their business operations and interactions with stakeholders. This implies that organizations, beyond their commercial interests, take into account their role and responsibility in promoting social well-being, adhering to business ethics and safeguarding the environment.
These are some possibilities for CSR actions:
- Compliance with legal and regulatory frameworks: This means following the relevant laws in all areas of a company’s operations, including those related to social well-being and the environment.
- Environmental sustainability: This involves reducing the impact of business practices on the environment through actions like responsible waste management and the use of renewable energy sources.
- Fair labor practices: CSR also includes treating employees well by ensuring their safety, providing good working conditions, and promoting diversity and inclusion within the company.
- Business ethics: This means avoiding deceptive business practices and not exploiting employees.
- Transparency and accountability: For instance, some NGOs have sections on their websites where you can check the source of their income and how they have invested the money.
- Community involvement: CSR also includes supporting local communities through donations to charities or assistance with humanitarian and social causes, among other initiatives.
Benefits of implementing corporate social responsibility
When a company embraces CSR practices, it brings several advantages. Not only does it help promote social well-being, have a positive impact on the environment, and benefit its stakeholders, but it also brings internal benefits.
The main advantages of CSR include:
Boosting credibility, trust, and reputation
If a company actively engages with society, for example, by being transparent and supporting social or environmental causes, it can boost its image and reputation. This, in turn, tends to increase consumer loyalty because people appreciate companies that care about their impact and promote social well-being.
Employee retention and increased productivity
Employees who are part of a responsible and ethical company are more motivated and committed to the organization. This, in turn, leads to higher levels of productivity and efficiency.
Global Master in Sustainability and CSR
EAE Barcelona’s Master in Sustainability and CSR focuses on the sustainable management of companies and organizations aware of the environmental and social impacts that surround their activities and society in general.
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Risk reduction
Implementing corporate CSR practices helps decrease financial and legal risks. Additionally, reducing the impact of activities that harm the environment or that negatively affect society helps avoid fines and penalties.
New business opportunities
Adopting corporate social responsibility practices can help companies enter new markets and access fresh business opportunities. Many companies and organizations prefer working with those that have a proven commitment to society, whether through eco-friendly actions or social contributions to charitable causes.
How can you receive training in CSR at EAE Barcelona?
If you are interested in Corporate Social Responsibility (CSR), EAE Barcelona provides an opportunity to explore this aspect of business management through the Global Master’s in Sustainability and CSR..
This program equips you with the skills needed to manage companies and organizations in a sustainable way, considering their impact on society, the environment and the economy. You’ll also learn to implement CSR practices internally, emphasizing business ethics and employee well-being to boost commitment and motivation.
Our aim is to enhance business value and reputation through effective relationships with all stakeholders.
You’ll be prepared to take a leadership role in sustainability and CSR, while also developing soft skills in line with contemporary leadership requirements. These soft skills encompass resilience in crisis management, empathy, creative problem-solving and effective communication.
