1. what is the relationship between corporate governance and social responsibility
Answers
Answered by
0
OK
Corporate Governance is about the stewardship of the company and how effective it is. CG aims at a balance between the economic and social goals. There should be complete transparency about the activities of the company. The conduct of the company should be in line with the legal and ethical framework.
CSR is part of the Governance of the company. This is a clear indicator of how responsible the company is towards the society and the sustainability of the company. If a company pollutes the environment by its activities and spends some meagre amount on schools and building hospitals, the company is definitely not socially responsible.The governance mechanism is multidimensional and should ensure the stakeholders interests are protected in all respect.The CG comprises of CSR and both well implemented would enhance the sustainability of the company.
Usually a company's annual report would have a corporate governance report listing the CG details( including a csr report). Now companies are going for sustainability reporting in specific which strengthens the process.
Corporate Governance is about the stewardship of the company and how effective it is. CG aims at a balance between the economic and social goals. There should be complete transparency about the activities of the company. The conduct of the company should be in line with the legal and ethical framework.
CSR is part of the Governance of the company. This is a clear indicator of how responsible the company is towards the society and the sustainability of the company. If a company pollutes the environment by its activities and spends some meagre amount on schools and building hospitals, the company is definitely not socially responsible.The governance mechanism is multidimensional and should ensure the stakeholders interests are protected in all respect.The CG comprises of CSR and both well implemented would enhance the sustainability of the company.
Usually a company's annual report would have a corporate governance report listing the CG details( including a csr report). Now companies are going for sustainability reporting in specific which strengthens the process.
Similar questions