Corporate Social Responsibility and Sustainability from a Global, European and Corporate Perspective.Corporate Social Responsibility and Sustainable G
Corporate Social Responsibility and Sustainability from a Global, European and Corporate Perspective.Corporate Social Responsibility and Sustainable G

Summary/Abstract: Shareholder value, financial crisis, turbo capitalism, fair products, risk management, management compensation, compliance management, employer branding –are terms that are on everyone’s lips at the moment. More and more the fields of action of Corporate Social Responsibility (CSR), often called soft skills, become clear to management and its stakeholders. Investors take notice of these aspects as well. Companies that neglect to fulfill their social responsibility towards workers, customers, society and environment at large will not be successful in the long term. The article gives an overview about the principles of CSR, the institutional framework of corporate social and sustainable management and its contents. Companies, practicing just shareholder value and neglecting the stakeholder dialogue will more and more loose market shares compared with those which develop a holistic strategy on corporate responsibility. But CSR is not just part of marketing or public relations. The European Union's strategy on CSR is enlarging this approach on all kind of organisations. The contribution describes the different approaches of the European Union, the Global Compact, the OECD and the ILO on CSR, describes the principles of the Global Reporting Initiative and the recent ISO standard 26000. It goes into corporate codes which obligate companies on CSR. Finally it shows the relevance of CSR for trade unions and employee representatives.

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