Setting and Achieving Corporate Social Responsibility and Sustainability Goals
• As a result of free trade along with corporate scandals, such as the use of sweatshop labor, discrimination against female employees, and product safety scandals, today’ s concerns have led to a new focus on corporate social responsibility.
• Corporate social responsibility (CSR) refers to the responsibility of the firm to act in the best interests of the people and communities affected by its activities.
• Companies are learning that being socially responsible can improve their reputation among both customers and employees.
Sustainability, a company’s ability to produce a good or service without damaging the environment or depleting a resource, is closely related to corporate social responsibility.
• For example, Starbucks practices ethical sourcing and support the developments of communities globally. At the same time,the company promotes campaigns to reduce its impact on the
environment.