Corporate Social Responsibility: A Business Perspective

This report delves into the concept of corporate social responsibility (CSR) and its significance in the business world. It highlights the triple bottom line, encompassing profit, people, and the planet, as a key framework for sustainable business practices. The report emphasizes the importance of considering social and environmental responsibilities in business strategies and financial planning. It provides examples of companies that integrate CSR into their operations, such as VanCity, and discusses the benefits of CSR, including enhanced reputation, customer loyalty, and long-term business success. The report stresses that while implementing CSR may require initial investment, it contributes to sustainable growth and positive corporate behavior, ultimately leading to a stronger customer base and lasting business viability.

Corporate social responsibility

Contents
Discussion....................................................................................................................................1
REFERENCE..................................................................................................................................2

Discussion
There are three bottom lines that a company needs to cover. These are profit, people and
planet. To have sustainability, some of the firms expand their building and view to focus on
triple bottom line. Both planet and people are accountable to measure Social and environmental
responsibilities. It is important for the organization to refocus business according to these triple
bottom line (Profit, People, Planet for sustainability, 2016). When formulation of business
strategies and budget for finance, it requires to consider the cost that will show for planet and
people. This is a type of business tool that enable to make their business to attain their goals and
objectives. There are some of the international businesses that work with financial institutes,
these invest in their community and people. This is helpful enough to create economic equity and
also protects the environment.
When such types of programs are implemented, then it creates positive reputation for the
firm, that also both locally and internationally. In addition to this, when there is positive
reputation, then it develops customer loyalty and business is boosted up with word of mouth.
For example, institutions like VanCity consider finance, social and environment in order
to implement and develop corporate business strategies so that they are able to network with the
world towards sustainable banks. In some of the cases, it will cost money and time but it
emphasizes sustainability for long term visibility and developing corporate behaviour among
customers. Long term future for the company will also assure success and raising customer base.
1

REFERENCE
Online
Profit, People, Planet for sustainability. 2016. [Online]. Available through:<
http://www.tradeready.ca/2015/trade-takeaways/profit-people-planet-sustainability-company-
triple-bottom-line-covered/>
2