Chapter 2: CSR and Ethics
In relation to equity, CSR plays a pivotal role in fostering social inclusivity and addressing social inequalities. Companies that prioritize CSR actively engage in efforts to promote diversity, equity, and inclusion within their workforce and supply chains. They strive to create equal opportunities for employees from diverse backgrounds and ensure fair treatment for all.
Moreover, CSR initiatives often target marginalized communities to uplift and empower them, promoting social equity through various social programs and partnerships. By considering the needs of vulnerable groups and supporting projects that enhance social well-being, companies contribute to a more equitable society.
How are CSR and equity interconnected and how businesses can use their influence and resources to champion social equity?
CSR and ethics are closely interconnected as they both involve responsible decision-making and actions that consider the impact on society and the environment.
Businesses can leverage their influence and resources to champion social equity through their CSR initiatives by:
Goodness is the only investment that never fails.
~~ Henry David Thoreau
Knowledge Check!
Resources
- Balmer, J. M., Fukukawa, K., & Gray, E. R. (2007). The nature and management of ethical corporate identity: A commentary on corporate identity, corporate social responsibility and ethics. Journal of Business Ethics, 76(1), 7-15. https://doi.org/10.1007/s10551-006-9278-z
- Sustainability Illustrated. (2021, May 28). CSR: What is corporate social responsibility? Definition examples benefits [Video]. YouTube. https://youtu.be/Zc102xiah1M?si=7Ig8USJbDjEDny_y
