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Finance & Accounting
Pages 4 (1004 words)
Corporate Social Responsibility Customer inserts his/her name Institution’s name By virtue of free trade and open economies, economic progress has been seen as a tool of poverty elimination and ensuring security for generations to come. However, there remains the challenge of ensuring that this progress remains equal across all sectors and nations and that the well-being of the environment is not being harmed.
Advocates of CSR have increasingly defined it in terms of human rights, ethics, closures of plants, relations with employees and the environment. A more comprehensive definition of CSR and sustainability encompasses all three foundations of sustainability, including the people, economy and the environment. If only the social and environmental development is taking place that is referred to as “bearable” (Chick & Micklethwaite, 2011). If only the social and economic development is taking place, that is referred to as “equitable”, whereas, if only the environmental and economic development takes places, that is referred to as “viable” (Chick & Micklethwaite, 2011). CSR is achieved only when all three dimensions develop simultaneously; that is, it is bearable, equitable and viable (Chick & Micklethwaite, 2011). ASDA, which is a subsidiary of Wal-Mart, has been labelled eco-friendly and environmentally responsible (Webcollage Inc., 2012). It has divided its sustainability initiatives into two: those that aim at sustainable supply of products and those that aim at reduction of carbon footprint along with waste. ...
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