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Any business that pursues making a profit at the expense of the society in which it operates will find its success to be nothing more than temporary (Chapter 1: Corporate Social Responsibility and Business Sustainability, n.d.).
The idea of Corporate Social Responsibility (CSR) is generally understood to imply that corporations have an amount of responsibility not only for the economic consequences of their activities, but also for the social and environmental implications. This is often called the triple bottom line approach. This approach takes into consideration the economic, social and environmental aspects of corporate activities. The meaning and value of CSR often differs in various situations, depending on local issues including culture, environmental conditions, and the legal framework (Corporate Social Responsibility & Human Rights, 2008).
Human rights are significant to the economic, social and environmental aspects of all corporate activity. Labor rights that require companies to pay fair wages influence the economic aspect. Human rights such as the right to not being discriminated against are related to the social aspect. Environmental features of corporate activity have an effect on a wide range of human rights, such as the right to have clean drinking water. While the primary accountability for the enforcement of international human rights standards falls on governments, there is a growing recognition that corporations also have an important role to play in this as well. Corporations have an effect on human rights in many significant ways everyday. These impacts have increased over recent decades as the economic power and political influences of corporations...
This might be direct contact, like with employees or customers or indirect contact with workers of suppliers, or people who live in areas affected by a corporation's activities. Corporations are also beginning to respond to the fact that many consumers and investors expect companies to act in a socially responsible way. The degree to which a company puts into place a comprehensive CSR program can persuade consumer and investors in the decisions that they make (Corporate Social Responsibility & Human Rights, 2008).
References
A multi-dimensional view of corporate responsibility. (2010). Retrieved August 1, 2010, from CSR Quest Web site: http://www.csrquest.net/
Chapter 1: Corporate Social Responsibility and Business Sustainability. (n.d.). Retrieved August
1, 2010, from Web site: http://www.unescap.org/tid/publication/indpub2565_chap1.pdf
Corporate Social Responsibility. (2010). Retrieved August 1, 2010, from As you Sow Web site:
http://www.asyousow.org/csr/
http://www.hreoc.gov.au/human_rights/corporate_social_responsibility/corporate_social_responsibility.html
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