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Corporate Social Responsibility

Traditionally, companies have focused on their bottom-line primarily because that reflected profitability and was of the largest concern for shareholders.  However, with a more toward Corporate Social Responsibility (CSR), more and more companies are focused on the triple bottom line which measures corporate success in the areas of people, planet and profit.  People include employees, customers and those in their supply chain.  Planet measures how companies utilize and replenish natural resources and their commitment to sustainability.  Profit is a critical component as in order for the company to make strides in the areas of people and plant money is required.

Perhaps the best definition of CSR comes from former HP president Carly Fiorina who stated in her November 26th, 2002 speech:

In this day and age, we are not just corporate citizens—we are global citizens. With global reach must come global responsibility. We live in a world today where there is more prosperity than ever before—but it’s also a world where two billion people are living on less than two dollars a day; where 130 million children will never go to school; where one in five people have never had a clean glass of water. If we learned anything on September 11th, we learned that a global economy that is creating prosperity for millions will not be sustainable if billions of people feel they have no stake in it (http://www.hp.com/hpinfo/execteam/speeches/fiorina/cbi02.html).

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