What are the 4 Types of Corporate Social Responsibility?Posted By: Helen Tuesday 10th September 2019Tags: charity, Corporate Responsibility, csr, social responsibility
Throughout September, we are going to further investigate Corporate Responsibility and what this means to you and your company. Let’s begin this month by looking at the four types of CSR.
Environmental Sustainability Initiatives
As the title suggests, this level of CSR maintains a focus on limiting pollution through air, land and water. Through understanding the effects environmental issues have on society and by contributing to the reduction, companies are represented as good corporate citizens.
How can you help? Start by looking at your premises. Do you use LED lighting, could you adopt a solar approach? Regarding your team, could certain members work from home thus saving on travel and air pollution?
Direct Philanthropic Giving
Adopting philanthropy shows how passionate a company is regarding charities and organisations whether local or global. By donating money, time and resources it means you are giving something back to society, specifically those requiring help. In supporting such groups it shows the human side of a business.
How can you help? There may already be a specific cause close to your heart. If so, that’s great. If you’d prefer to research however, think about human rights groups, national disaster relief, clean water and educational programs for underdeveloped countries. At LaneSystems we support a number of organisations including MAIN and Zoe’s Place.
Ethical Business Practices
Quite simply, Ethical Business Practice means a company is fair in terms of labour practices. Going a step further, it’s important to ensure suppliers also adopt such principles.
How can you help? Ensure your existing business practices are fair, including equal work for equal pay. Do you need to reassess your companies living wage compensation initiatives? In terms of suppliers and their ethical practices, are they certified in meeting fair trade standards?
Focus on Economic Responsibility
Economic Responsibility encompasses the strategies and working practices that facilitate long term business growth. The above three standards are included in this section also. When it comes to economic decisions, a business is required to take into consideration, the societal effects.
How can you help? If you are a product focused company, is there a way of including recycled parts into the manufacturing process? If so, would these parts lower the cost of materials for you? If the answer to both of these questions is ‘yes’, you are benefiting society through the consumption of fewer resources.
You may already be aware of how important CSR is to LaneSystems. We nurture our team through training efforts and always go the extra mile by helping charities. Does your company currently practice each aspect of CSR effectively?