The United Nations Industrial Development Organisation (UNIDO) states, “CSR is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.” CSR is generally understood as being the way through which a company achieves a balance between economic, environmental and social imperatives (Triple-BottomLine Approach), while at the same time addresses the expectations of shareholders and stakeholders, says UNIDO. In a sense it is important to draw a distinction between CSR—which can be a strategic business management concept—and charity, sponsorships or philanthropy.
This story is from the March 01, 2021 edition of Down To Earth.
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This story is from the March 01, 2021 edition of Down To Earth.
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