Yakub02
Banned
Introduction Historically, companies have considered themselves responsible to their shareholders by generating dividends and capital growth on their investment. More recently, companies have been criticised for striving to maximise profits at the expense of social and environmental concerns, for example, by such means as underpaying their workforce or by abusing their power over their smaller suppliers to negotiate prices and terms.
There is now a widely-accepted view that companies should be answerable to a wider range of ‘stakeholders’ who are taking an increasing interest in their activities. They are interested in the good and bad aspects of a company’s operations – its products and services, its impact on the environment and local communities and how it treats and develops its workforce.
Many large companies now accept (possibly for commercial reasons) that their responsibilities extend beyond their shareholders to other stakeholders – their employees, the government, the local community and society in general. Initiatives include sourcing goods from deprived countries at fair prices, campaigns to promote re-cycling of materials, job-sharing and flexi-time working to improve working opportunities and conditions for employees.
In some aspects of reporting and disclosures, many large quoted companies publish an annual corporate social responsibility report. This may be given a different name, such as a social and environmental report or a sustainability report, and is usually published as a separate document from the annual report and accounts, but at the same time.
There is now a widely-accepted view that companies should be answerable to a wider range of ‘stakeholders’ who are taking an increasing interest in their activities. They are interested in the good and bad aspects of a company’s operations – its products and services, its impact on the environment and local communities and how it treats and develops its workforce.
Many large companies now accept (possibly for commercial reasons) that their responsibilities extend beyond their shareholders to other stakeholders – their employees, the government, the local community and society in general. Initiatives include sourcing goods from deprived countries at fair prices, campaigns to promote re-cycling of materials, job-sharing and flexi-time working to improve working opportunities and conditions for employees.
In some aspects of reporting and disclosures, many large quoted companies publish an annual corporate social responsibility report. This may be given a different name, such as a social and environmental report or a sustainability report, and is usually published as a separate document from the annual report and accounts, but at the same time.
