Business – 1.4 Business objectives – Business objectives in private and public sectors | e-Consult
1.4 Business objectives – Business objectives in private and public sectors (1 questions)
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Corporate social responsibility (CSR) is the voluntary integration of social, environmental and ethical concerns into a company’s business operations and interactions with stakeholders.
The triple bottom line expands the traditional focus on profit to include:
- Economic (financial) objective: Sustainable profitability and value creation for shareholders. Example: Apple’s focus on high‑margin product innovation to generate strong returns.
- Social objective: Positive impact on employees, communities and society at large. Example: Unilever’s Fair & Inclusive Living Plan, which improves health and wellbeing for millions.
- Environmental objective: Minimising ecological footprint and promoting resource efficiency. Example: Patagonia’s use of recycled materials and its commitment to repair and reuse clothing.