No universally agreed definition of corporate social responsibility management essay

For the values that characterize Western thought are not self-executing.

No universally agreed definition of corporate social responsibility management essay

Definitions[ edit ] Firefighters at work The Oxford English Dictionary cites the earliest use of the word in English in the spelling of risque from its from French original, 'risque' as ofand the spelling as risk from It defines risk as: Exposure to the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility.

This definition, using project terminology, is easily made universal by removing references to projects. This concept is more properly known as the 'Expectation Value' or 'Risk Factor' and is used to compare levels of risk The probability or threat of quantifiable damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action.

The possibility that an actual return on an investment will be lower than the expected return. A situation where the probability of a variable such as burning down of a building is known but when a mode of occurrence or the actual value of the occurrence whether the fire will occur at a particular property is not.

The probability of a loss or drop in value. Trading risk is divided into two general categories: Also called market risk. Also called non-market risk, extra-market risk or diversifiable risk. Product of the consequence and probability of a hazardous event or phenomenon.

For example, the risk of developing cancer is estimated as the incremental probability of developing cancer over a lifetime as a result of exposure to potential carcinogens cancer-causing substances.

In this definition, uncertainties include events which may or may not happen and uncertainties caused by ambiguity or a lack of information. It also includes both negative and positive impacts on objectives. Many definitions of risk exist in common usage, however this definition was developed by an international committee representing over 30 countries and is based on the input of several thousand subject matter experts.

Other[ edit ] Very different approaches to risk management are taken in different fields, e. Risk can be seen as relating to the probability of uncertain future events.

In computer science this definition is used by The Open Group. References to negative risk below should be read as also applying to positive impacts or opportunity e.

No universally agreed definition of corporate social responsibility management essay

The related terms " threat " and " hazard " are often used to mean something that could cause harm. Practice areas[ edit ] Risk is ubiquitous in all areas of life and risk management is something that we all must do, whether we are managing a major organisation or simply crossing the road.

When describing risk however, it is convenient to consider that risk practitioners operate in some specific practice areas. Economic risk[ edit ] Economic risks can be manifested in lower incomes or higher expenditures than expected.

The causes can be many, for instance, the hike in the price for raw materials, the lapsing of deadlines for construction of a new operating facility, disruptions in a production process, emergence of a serious competitor on the market, the loss of key personnel, the change of a political regime, or natural disasters.

Health[ edit ] Risks in personal health may be reduced by primary prevention actions that decrease early causes of illness or by secondary prevention actions after a person has clearly measured clinical signs or symptoms recognised as risk factors. Tertiary prevention reduces the negative impact of an already established disease by restoring function and reducing disease-related complications.

Ethical medical practice requires careful discussion of risk factors with individual patients to obtain informed consent for secondary and tertiary prevention efforts, whereas public health efforts in primary prevention require education of the entire population at risk.

In each case, careful communication about risk factors, likely outcomes and certainty must distinguish between causal events that must be decreased and associated events that may be merely consequences rather than causes.

In epidemiology, the lifetime risk of an effect is the cumulative incidencealso called incidence proportion over an entire lifetime.Corporate means formed into an association and endowed by law with the rights and liabilities of an individual. Social responsibility is an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to act to benefit society- at- large.

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Corporate social responsibility (CSR) has been defined by interest groups, organizations, and academicians in several different ways; there is no universally accepted definition of corporate social responsibility in the literature (O'Riordan & Fairbrass, ).

Definition of corporate social responsibility. Corporate social responsibility (CSR) is known as a number of other names: corporate accountability, corporate responsibility, corporate ethics, sustainability, corporate citizenship, stewardship, triple bottom line and responsible business, to name just a few.

In France, John Baptist Say has the merit of producing a very superior work on the subject of Political Economy. His arrangement is luminous, ideas clear, style perspicuous, and the whole subject brought within half the volume of [Adam] Smith's work.

Academy of Social Sciences ASS The United Kingdom Association of Learned Societies in the Social Sciences formed in gave rise to the Academy of Learned Societies for the Social Sciences incorporated , which became the Academy of Social Sciences on ASS Commission on the Social Sciences Notes from the meeting on by Ron Johnston.

Corporate Social Responsibility Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible Business) is a form of corporate self- regulation integrated into a business model.

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