The responsibility of enterprises for their impact on society
The impact of enterprises’ actions on the lives of EU citizens is decisive. Undoubtedly, they offer the products we demand, and they create the jobs we need, but they also have a decisive role in terms of working conditions, health, education and training.
Corporate Social Responsibility (CSR) means for an enterprise to become socially responsible by integrating social, environmental, ethical, and human rights concerns into their business strategy. Furthermore, adopting a CSR strategy may be beneficial for:
- The own enterprises, in terms of risk management, ability to innovate, cost savings, customer relationships, sustainability of operations.
- The EU economy, because the more sustainable a company is, the more sustainable the overall economy will be.
- Society as a whole, considering that the CSR’s enterprises would offer a set of values to build a more cohesive society.
Aware of its importance, the European Commission renewed its strategy for CSR in 2011. You could find it here: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52011DC0681