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How does a corporation define social responsibility? And what role does supply management play in this growing area?
Years ago, social responsibility was mostly a buzzword that organizations used to gain traction in public relations or to appeal to a niche group of consumers concerned with the environment and their communities. Organizations that used social responsibility purely as a marketing pitch were merely "green-washing" the issue. Today, the corporate world embraces social responsibility policies for a broader scope of critical factors. A company that does not actively incorporate its own social responsibility principles is likely to lag behind when it comes to risk mitigation and cost savings ... not to mention, it could risk developing a poor reputation.
Corporate social responsibility encompasses everything from making green choices when it comes to suppliers and materials, to achieving transparency in financial dealings to show adherence to standards and requirements. While a social responsibility policy may be enacted as a company-wide goal, supply management has a key position in bringing these initiatives to fruition.
Source: Inside Supply Management, http://www.ism.ws
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