Corporate Responsibility (CR), also known as Social Responsibility, Corporate Social Responsibility, or Corporate Social Responsibility, is a way of running companies based on managing the impacts that their activity generates on their customers, employees, shareholders, local communities, the environment and society in general.
The European Commission defined, at the time, the concept of Corporate Social Responsibility as "the voluntary integration, by companies, of social and environmental concerns in their commercial operations and their relations with their interlocutors" (Green paper 'Promoting a European framework for corporate social responsibility' COM(2001) 366).
CR refers, therefore, to the actions of companies that are directed -beyond the fulfillment of their legal obligations- to society and the environment.
For the competitiveness of companies, a strategic approach to CR is increasingly important, which can bring benefits in terms of risk management, cost savings, access to capital, customer relations, human resource management and capacity for innovation. .
Because CR requires engagement with internal and external stakeholders, it enables companies to better anticipate and take advantage of rapidly changing societal expectations and operating conditions. Therefore, it can promote the development of new markets and generate growth opportunities.
It is, therefore, a management model that provides intangible values to companies and organizations, but also has a very positive impact when it comes to accessing new markets and customers, obtaining financing and improving labor productivity and, therefore, , the competitiveness of companies.
More information on this can be found at The Social Responsibility Portal, of the Ministry of Labor and Social Economy.