Everything You Need to Know About Corporate Social Performance

 


Original Content- Business Upside India 

What is Corporate Social Performance?

Corporate social performance (CSP) is a way to measure the impact of a company’s activities on the community. CSP is not just about donating money or volunteering time—it’s also about engaging with the community, building relationships, and improving communities through technology and innovation.

CSP needs to be holistic to be effective: it can’t just focus on one aspect of a company’s business operations like employee engagement or environmental impact. Instead, it must consider how a company directly impacts the community, including its policies and practices, as well as its contributions to broader social and cultural norms.

Importance of Corporate Social Performance

According to a study by the Institute for Corporate Social Responsibility, Corporate Social Responsibility (CSR) can be defined as “how a company manages the business processes to produce an overall positive impact on society.” In other words, it is a company’s commitment to operating ethically and sustainably. There are many benefits of CSR, both for the company and society as a whole. For society, CSR can help to create jobs, reduce poverty and inequality, and improve environmental protection.

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