Nowadays, consumers expect companies to make more than just profits; they expect them to contribute to the social and environmental needs of the place they do business in. As such, many companies now practice corporate social responsibility which directs a company to include social and environmental issues in its targeted operations. Corporate social responsibility, also known as corporate citizenship, serves to benefit the major stakeholders such as the consumers, employees, investors, retailers, environment, etc.
As a company, chances are that you will want to grow and become a global business. To achieve this, you would have to search for easy ways of sending and receiving money from other countries. One of the options you will have is using money transfer apps like Transferwise. But before using any money transfer apps, you will want to know how reliable the company is. Reading reviews on NorskeAnmeldelser will help you to know what other people in Norway have experienced while patronizing the company. Here are some of the main principles of corporate social responsibility:
Conservation of the environment
Companies have been the largest contributors to carbon footprints all over the world. Their resources and practices have great impacts on the environment; studies have shown more emissions of greenhouse gases which affect global climate, sea level, agricultural patterns, etc. As such, companies are required by the consumers and laws to adopt more sustainable practices in their production, to protect the environment. Some of these actions include using locally-sourced products and energy-efficient buildings. Buying local products will support the local economy and reduce the amount of pollution from transporting raw materials.
Being philantropic is another important aspect of corporate social responsibility that ensures a company gives back to the society it takes from. This usually takes place in the form of companies donating to charities or starting one themselves, supporting underprivileged students who have the desire and drive to go to school, seeking out people who are talented and supporting them financially and career-wise, etc. Such programs have helped to increase the quality of life especially in low-class areas and reduced the burden on the government.
Ethical labor practices
In recent times, there have been reports of companies using forced labor, underaged labor, etc. to source the raw materials they use in making their products. However, ethical labor practice is very controversial. A company’s actions in ensuring that their primary laborers are not forced, underaged, or work in unsafe and less-human conditions can be frustrated by the efforts of the country’s government or powerful providers of labor who have no respect for the conditions of laborers. As such, more companies make the details of their work with providers of labor public to avoid criticism as consumers in different markets of the world are appalled by unethical labor.
A lot of companies have incorporated volunteerism into their targeted operations. They have employee volunteer operations that encourage their employees to volunteer not only in the society and environment but in ways that major stakeholders find to be responsible. Through volunteerism, companies also give back to the societies they benefit from.
Respect for human rights
Under no circumstances should the rights of anyone be trampled upon in the company’s quest to make profits. Some laws protect the consumer’s rights, investors’ rights, employees’ rights, etc. An organization that needs to exploit people before it makes progress is criminal and has to be duly punished. As such, consumers have become more conscious of their rights, and more legal facilities to ensure companies respect human rights are been put in place.