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Corporate Responsibility
Corporate
responsibility describes the degree of business responsibility in relation
to its function in society, business operations, the employees, the
environment and the business arena.
In the narrow sense,
corporate responsibility is based on a business philosophy where
transparence, ethical behaviour and respect are the focal point for a
stakeholder in a company. The concept of “CR” borders on the themes of Corporate
Social Responsibility (CSR), Corporate Governance, and Corporate
Citizenship.
Often there is confusion in regard to the
concepts of Corporate Responsibility (CR) and Corporate Social
Responsibility. The CR concept is however becoming more clearly defined.
In Anglo-Saxon arenas, CSR is equated more with the societal and
environmental responsibilities that companies face. In the German arenas,
CSR is the concept equated with a corporation’s sustainability (i.e.,
corporate leadership with a balanced regard to economical, ecological, and
social factors). Corporate Responsibility, in turn enfolds the outer
aspects in relation to questions about corporate leadership and control
(Corporate Governance), and the engagement of citizens within a
corporation (Corporate Citizenship).
CR is built on a dialogue
with all relevant stakeholder groupings, such as customers, business
partners, suppliers, employees, and non-governmental organizations. The
emphasis is that the CR-Concept is also comprised of the responsibility of
the supply chain. CR is the all-encompassing management strategy used to
help secure long-term economic success.
Source: de.wikipedia.org
(Translated into English)
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