social responsibility


Also found in: Legal, Acronyms, Wikipedia.

Social Responsibility

The practice of appropriate behavior in a public setting, regardless of the behavior's legality. In investing, social responsibility helps inform the investment decisions of some individuals and companies. For example, an individual may have a moral objection to smoking and therefore may refrain from investing in tobacco companies. Social responsibility in investing may be either positive or negative; that is, it may inform where an individual makes investments (e.g. in environmentally friendly companies) and where he/she does not (e.g. in arms manufacturers). Some mutual funds and even whole subdivisions are dedicated to promoting socially responsible investing. See also: Green fund, Islamic finance.

social responsibility

a business philosophy that stresses the need for firms to behave as good corporate citizens, not merely obeying the law but furthering the interests of the STAKEHOLDERS - shareholders, employees, customers, suppliers and the community Social responsibility is an alternative goal to PROFIT MAXIMIZATION for firms. See CORPORATE GOVERNANCE, FIRM OBJECTIVES.
References in periodicals archive ?
Research conducted in the field of marketing stated that observance of corporate social responsibility of the companies and organizations can be used as a competitive advantage for the organization (Basu & Mueller, 2012; Nehme, Charbel & Aline, 2013).
The OSCE-supported guidebook on corporate social responsibility launched at the event is the second and improved edition of the publication elaborated by the Business Support Centre for Armenian businesses.
During the closing ceremony, Sheikh Faisal and a big number of the audience signed the "Al Faisal Social Responsibility Agreement.
During the forum, President Omar Al-Bashier of Sudan was announced the First Statesman for social responsibility, Field Marshall (retired) Abdulrahman Suwar Al-Dahab, the personality of the year for social responsibility for the year 2015, and the cities of Khartoum and Al-Madinah Al-Munawarah were awarded the prize of the socially-responsible Arab city for 2016.
She explained, "We have come to this stage of honoring which reflects the interest of the Government of the Sultanate under the leadership of His Majesty Sultan Qaboos bin Said and his interest in social responsibility as His Majesty the Sultan is the first guide and beacon in this regard as His Majesty is the first interested in social responsibility through his interest in all issues of Oman and the international community issues.
The review of studies related to the social responsibility showed that there are few studies in the healthcare organizations, but more in other organizations.
Such glorious power of free will to choose envisages beneficent social responsibility as manifest and welcome.
In today's competitive world, the concept of organizational social responsibility has become the dominant paradigm in the administration of organization.
This concept has a great role in increasing the number of the social responsibility projects of the institutions that put emphasize on women.
Several issues of corporate social responsibility (CSR) in Saudi Arabia will come under the spotlight at the third Saudi Forum for Corporate Social Responsibility that opened in Jeddah today.
PPG Industries received the CSR Award--Special Prize for the third consecutive year and was named one of the top 100 Corporate Social Responsibility (CSR) companies in China at the 2012 China Social Responsibility Annual Forum in Beijing.
Large, medium and small enterprises received the national award for corporate social responsibility, allocated by the Ministry of Economy for projects implemented in the course of last year.