Corporate Responsibility (notes)

What is?

-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

Audiences:

  • Traditional Stakeholders

-Customers

-Employees

-Investors

  • Also

-Media

-Investment analysts

-Regulators

-Policymakers

-International organizations

-NGO’s

Tools:

  • 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.

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