Corporate Responsibility Management

Changes in Corporate Responsibility Management during COVID-19 Crisis and Their Effects on Business Resilience: An Empirical Study of Swiss and German Companies

“…Corporate Responsibility Management: The concept of corporate responsibility first appeared in the 1960s and is related to other concepts such as sustainability and corporate citizenship [1,25]. Corporate responsibility management as defined by the European Commission [26] is a process to manage an organization's social responsibility by integrating social, environmental, ethical, human rights, and consumer concerns into its business operations and core strategy in close collaboration with stakeholders, to (i) maximize the creation of shared value for shareholders, other stakeholders, and society at large, and (ii) identify, prevent, and mitigate possible adverse effects (cf., also [27]). Due to increasing awareness of pressing challenges such as climate change, the pollution of the oceans with plastic particles, and human rights violations, organizations are more aware than ever of the relevance of corporate responsibility, including the related risks (financial, legal, and reputational) and opportunities (e.g., products and services for new markets or new customer segments), as well as the potential of corporate responsibility for future economic growth [3].…”