6 Guiding Principles of Corporate Social Responsibilities

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Corporate Social Responsibility is caring more about our company and the image it reflects, the well-being of employees, and the societal and environmental consequences of our work.

Here are 6 Guiding Principles of Corporate Social Responsibilities in Norway in line with expert reviews on NorskeAnmeldelser.

1. Transparency

The principle of transparency doesn’t require disclosing proprietary information and it doesn’t end in supplying data that’s confidential or that may contravene legal, commercial, security, or privacy obligations.

  • Make sure the transparency of selections taken and activities administered once they have an impression on society and therefore the environment.
  • To disseminate during a clear, fair, and comprehensive manner and to an inexpensive and sufficient degree the policies, decisions, and activities administered, (Transferwise) also as their known and probable effects on society and therefore the environment.
  • To make information available, accessible, and understandable to those that are or could also be affected in various ways by the organization.
  • To present up-to-date, fact-based information presented in a clear and objective manner, to enable stakeholders to accurately assess the impact of the organization’s decisions and activities on their interests.

2. Ethical Behavior

It consists of adopting “behavior supported the values of honesty, fairness, and integrity.” These values imply that we care about others, animals and therefore the environment which we plan to address the impact of our decisions and activities on the interests of stakeholders”.

3. Recognition of Stakeholder Interest.

It is about recognizing, taking under consideration the interests of its stakeholders, and responding to them. Although the objectives of the organization could also be limited to the interests of its owners, members, clients, or corporate officers, other individuals or groups can also have rights and express specific requests or interests that ought to be taken under consideration. Collectively, these individuals or groups constitute the stakeholders of the organization. In recognizing stakeholders, companies in Norway have to the following

  • Identify its stakeholders
  • Identify and take fully under consideration the interests and rights of its stakeholders granted by law and answer the concerns expressed by them
  • To acknowledge that certain stakeholders can have a big influence on the activities of the organization.

4. Respect for Legality

Respect for Legality  implies the following:

  • To simply accept that respect for the principle of legality is compulsory.
  • To think about that no individual or organization is above the law, and on the opposite hand including the general public authorities. The principle of legality is a con to the arbitrary exercise of power. it always implies that laws and regulations are written, publicly released, and enforced fairly in accordance with established procedures.
  • To suits all applicable laws and regulations.
  • To require steps to become conscious of the laws and regulations effective, to tell those that are a part of the organization that they’re required to watch and implement the measures in question.
  • To suits legal obligations altogether jurisdictions of intervention, albeit these laws and regulations aren’t adequately enforced;

5. Compliance With International Standards of Behavior

This should be taken under consideration, especially when the country’s law doesn’t specify a framework for counting on international standards. for instance, the ILO features a tripartite structure composed of representatives of workers, employers, and governments to develop policies and tools for access to decent work ILO website.

6. Respect for Human Rights

This principle involves:

  • Respect human rights and recognize both their importance and their universality.
  • Respect and, whenever possible, promote the rights began within the International Declaration of Human Rights
  • Accept the universality of those rights, that’s to mention the very fact that they’re applicable indivisibly altogether countries, cultures, and situations.
  • Take measures to respect human rights, and in cases where these aren’t protected, avoid taking advantage of those situations.
  • Accept the principle of taking under consideration international standards of behavior in cases where legislation or its implementation doesn’t ensure adequate protection of human rights.

In conclusion, CSR represents the efforts of a company to be more responsible with regard to society and the environment.