Corporate Responsibility (notes)
-Corporate responsibility means meeting the expectations of stakeholders; it goes beyond philanthropy and legal compliance.
In business terms/responsibilities:
- Managing and mitigating risks
- Protecting and enhancing reputation, brand equity and trust
- Attracting, motivating, and retaining talent
- Improving operational and cost-efficiency
- Ensuring a license to operate
- Developing new business opportunities
- Creating a more secure and prosperous operating environment
- Traditional Stakeholders
- Codes of conduct
- Monitoring and certification
- Training and education
- Due diligence
- Non-financial reporting
Legal Considerations; The benefits of communicating outweigh the risks of litigation or of not communicating at all.
All notes/information came from Reputation Management (Not yet in print), to purchase the previous edition visit here.