04 / April / 2022 : 12-15
Corporate Social Responsibility: Business and Society in Harmony
Corporate social responsibility (CSR) is a business approach that involves companies taking responsibility for their impact on society and the environment. It is a form of sustainable business practice that prioritizes the well-being of stakeholders, including employees, customers, and the community.
CSR encompasses a wide range of initiatives, such as environmental sustainability, fair labor practices, philanthropy, and community engagement. Companies that prioritize CSR often see benefits such as improved brand reputation, increased customer loyalty, and employee satisfaction.
Implementing CSR can also contribute to the achievement of the United Nations' Sustainable Development Goals (SDGs), a set of 17 goals aimed at ending poverty, protecting the planet, and ensuring prosperity for all. By aligning their CSR efforts with the SDGs, companies can demonstrate their commitment to sustainability and contribute to a more equitable world.
However, there are challenges associated with CSR, such as the cost of implementing sustainability initiatives and ensuring their effectiveness. To address these challenges, companies need to integrate CSR into their overall business strategy and make it a priority at all levels of the organization.
In conclusion, CSR is an important aspect of sustainable business practice that can benefit both companies and society. By prioritizing CSR, companies can demonstrate their commitment to sustainability and contribute to a more equitable world.
Published on 04 / April / 2022 : 12-15
Published by
Liana Aloyan
Journalist, columnist. Liana studies at the Faculty of Russian Philology of Khachatur Abovyan State University. She has been working at Yelaket (Yelaket.am) news agency since 2019 as a journalist and columnist. Writes articles about business and marketing. Liana is a member of "Media association" since 2020.
Viewed
778times
Recommended
21 / February / 2020
Where Do The Richest Americans Live?
Have you checked the newest "Forbes 400: The Full List of The Richest People in America" yet?
Surprise, Bill Gates, with a net worth of $81 billion, is ranked No. 1 for the 23rd year running....
17 / June / 2021
Gold loses its shine as Fed hints at rate hikes
The Federal Reserve surprised the market Wednesday with projections that future interest rate hikes will come a bit sooner than expected. Gold bugs in particular were disappointed.The price of gold...
17 / June / 2021
Jobless claims unexpectedly rose last week
Claims for unemployment benefits rose unexpectedly last week, marking the first increase in initial claims since late April.Another 412,000 workers filed for first-time benefits in the week ended...
16 / July / 2021
Abu Dhabi’s maritime sector strategy shifts to diversification, less reliance on oil
“No one is safe, unless everyone is safe” is the thinking behind herculean efforts to immunise the world against Covid-19.Abu Dhabi, capital of the United Arab Emirates (UAE) and a strategic hub...
15 / February / 2022
Ameriabank is the first in Armenia to place green bonds via public offering
Ameriabank announced today public placement of nominal, coupon, book-entry bonds with the total volume of USD 8 million and AMD 3 billion during the period from February 14 to April 22, 2022,...
22 / February / 2022
Ameriabank receives another IFC award in trade-finance sector
Ameriabank CJSC has been named the Best Issuing Bank in the Caucasus for 2021 by International Financial Corporation (IFC), a member of the World Bank Group, in the 10th annual award ceremony in...
02 / March / 2022
Global Finance Names Ameriabank “Best Investment Bank” in Armenia
Global Finance reputable magazine has published the list of winners of the World’s Best Investment Banks 2022 Award, naming Ameriabank the “Best Investment Bank in Armenia” for the seventh year in...
31 / March / 2022
Ameriabank’s ‘Live Armenian,’ ‘Live with a Smile,’ ‘Live Limitless’ promotional draws’ winners...
Ameriabank on Wednesday summed up the promotional draws “Live Armenian”, “Live with a Smile” and “Live Limitless” and announced the results.From December 9, 2021 to March 9, 2022, the Bank offered...