Corporate Social Responsibility (CSR)
Members are increasingly asked about their approach to corporate social responsibility (CSR) and sustainability issues by clients, other buyers, and supply chain assessment schemes. This section includes templates that can help (mainly small to medium-sized) member companies to consider and produce policy statements covering relevant CSR and sustainability issues
What is Corporate Social Responsibility?
A free market economy, that runs unconstrained by any checks and balances, results in divisions and extremes of wealth and poverty, that is both detrimental to all individuals and to the growth and progression of society as a whole.
To demonstrate that a business, as a legal independent ‘person’ , is aware of its responsibilities in this respect, government, companies and consumers look to see the organisations they rely on, are socially aware and trade ethically.
Sometimes the free market fails and governments legislate to resolve the weakness in the capitalist system . Recent examples would include: The Modern Slavery Act and The Bribery Act.
Why it is important for your business
A company demonstrates, to its stakeholders (customers, employees, trainees, local businesses etc) that it trades ethically by ensuring its practices are compliant both with the letter of the law and its interpretation of its wider responsibilities. This is good business practice. Obtaining willing trainees, repeat customers and a good public relations image is vital for business survival and growth.
Embodying Corporate Social Responsibilities into a business, in a demonstrable form and in a fashion management can exert corrective control procedures, is achieved by creating suitable business policies, underwritten by viable and auditable control procedures.
Customers procurement systems (PQQ’s) are frequently expecting members to provide both their policies and demonstrable evidence to policies are being put into effect.
Examples of suitable policies are provided below.