Corporate Social Responsibility (CSR) is a business approach that encourages companies to take into account the social and environmental impacts of their operations and to act in a manner that not only benefits their bottom line but also contributes to the well-being of society. This involves integrating ethical and sustainable practices into a company's core business strategy, making decisions that consider the interests of various stakeholders, such as customers, employees, communities, and the environment. CSR initiatives can encompass a wide range of activities, from philanthropy and community engagement to sustainable sourcing and environmentally friendly manufacturing processes. Question: How can a company effectively measure and evaluate the success and impact of its CSR initiatives, and what key performance indicators should be considered for such assessments?
Corporate Social Responsibility (CSR) is a business approach that encourages companies to take into account the social and environmental impacts of their operations and to act in a manner that not only benefits their bottom line but also contributes to the well-being of society. This involves integrating ethical and sustainable practices into a company's core business strategy, making decisions that consider the interests of various stakeholders, such as customers, employees, communities, and the environment. CSR initiatives can encompass a wide range of activities, from philanthropy and community engagement to sustainable sourcing and environmentally friendly manufacturing processes.
Question: How can a company effectively measure and evaluate the success and impact of its CSR initiatives, and what key performance indicators should be considered for such assessments?
Step by step
Solved in 3 steps
