ABSTRACT
Corporate Responsibility refers to corporate policies, practices and outcomes related to issues including employee well-being, climate change, human rights or diversity. In a business case framework, the relationship between financial costs and financial benefits is addressed. An important perspective on the phenomenon of corporate responsibility is the stakeholder perspective. The term Corporate Social Responsibility is particularly linked to the development of corporate responsibility in the approximately last 20 years, when corporate activities towards issues like employee well-being, climate change or human rights became more prominently discussed in the business world. In addition, defining corporate responsibility needs to account for variations across business systems and countries. Since several years, the role of corporate responsibility in practices is gaining increasing relevance. Finally, looking at the role of corporate responsibility in practice, we can observe an increasing effort at the company level to demonstrate companies’ responsibilities.
