Corporate social responsibility
Corporate social responsibility (CSR) is a form of corporate self-regulation which mainly larger multinational enterprises (MNEs) incorporate into its business model.
A well designed CSR policy should work as a built-in self-regulation mechanism which ensures corporate monitoring and active compliance within the spirit of the law, ethical standards and international norms.
Therefore, a CSR-focused business and organisation would proactively promote public interests by encouraging community growth and development.
Such an organisation would voluntarily eliminate any practices, regardless of legality, that harm the public sphere. CSR-oriented corporate organisations will work to include public interest into the internal decision-making process and will work towards what is called a 'triple bottom line' focusing on people, planet and profit.
Because of the many benefits CSR brings to the general public and the community at large both the British Government and the European Union have actively tried to encourage companies, both small and medium-sized enterprises, to engage in and implement CSR into their business model.
The European Union has even adopted an official definition of the term:
“A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis”
Because the majority of sporting organisations are built on values of community inclusion, sport organisations will be able to become partners in CSR projects as well, and will be able to to embrace the principles of CSR in their own organisations.
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