Corporate Responsibility (CR) is the manner by which an organization demonstrates fairness, social, environmental, economic and ethical considerations in its values and activities as it seeks long-term business success. Corporate responsibility weighs the organization’s economic, environmental and social impacts along with its relations with all stakeholders. It is a strategic approach that suggests that businesses voluntarily include social and environmental considerations in their decision-making process in order to ensure long-term success.
Corporate Responsibility is a growing field, gaining momentum around the world and in Israel as well. Increased competition, alongside regulation, investor demands and transparency, as reflected in the digital world that we live in, amplifies the responsibility borne by managers to operate in a responsible manner and leads more and more corporations to the understanding that proper management of corporate responsibility contributes a great deal to corporate prosperity, growth and proper management.
Social and environmental involvement projects contribute to the company’s reputation, to the community, to the social license to operate (SLO), to the employees’ sense of pride and to cost savings. Ethics and corporate governance are even more important today, as we see the immense power of social networks and the internet, where huge corporations who failed to responsibly manage such matters are exposed to public criticism. Nowadays, companies must create a sense that they are not just talking, but that they are taking actual measures.
Corporate Responsibility is a broad area, including multiple elements from various worlds of content. Inter alia, it includes caring for employees and the work environment, environmental quality and sustainability, stakeholder dialogue, partners and a responsible supply chain, ethics, corporate governance, civil rights, community involvement and employee volunteering, advertising, marketing, customer service and more.
Through many years of work and knowledge in the field, we at Good Vision have witnessed dozens of organizations to which the decision to operate responsibly has contributed toward improving their results in various aspects, including the business aspect: