As the markets are always very competitive and the conditions are tough to succeed in this has lead businesses to improve their CSR. However as businesses struggle to find a beneficial relationship between implementing CSR and their financial performance they are rather reluctant to do so. (Burke and Logsdon, 1996). This essay will look at and discuss the benefits and issues faced with the applications of guidelines to sustainability reports.
CSR as defined by McWilliams, Siegel and Wright (2006, p.1): "Acquisitions where the firm goes beyond compliance and engages in actions that appear to further some social good, beyond the interests of the firm and that which is required by law." This is the business partaking in voluntary schemes that will benefit society and therefore make the business more appealing to the public. (Sprinkle and Maines, 2010). Another part of the implementation of the CSR is that stakeholders have a lot of input into what activities the business should carry out; this will be highlighted within the First Group Plc. .
AA1000APS (2008).
The AA1000APS (2008) is the AccountAbility Principles Standard, this is the general framework for Corporate Social Responsibility. It first appeared in 1999 where it was included in the AA1000 AccountAbility Framework Standard. (AA1000, 2008). From 1999 onwards it has become more detailed and updated. In 2008 it was decided that it should be in a separate standard so that it can be defined more clearly. (AA1000, 2008). The AA1000APS (2008) provides companies with a set of principles that they can plan and implement how to include CSR within their organization. (AA1000, 2008) There are three principles within the standard, these are:.
- Inclusivity.
- Materiality.
- Responsiveness.
They all link together in order to achieve what the organization desires regarding CSR. Inclusivity is the first principle and the foundation, as without it materiality and responsiveness will not be achieved.
