Corporate Social Responsibility

Social responsibility at the University of Economics and Business, Vienna  

I. Social responsibility in general

 Corporate Social Responsibility is “a concept whereby companies integrate social and

environmental concerns in their business operations and in their interaction with their

stakeholders on a voluntary basis” (European Commission, 2001, p. 8.)

 As the above mentioned statement said, the social responsibility of corporations and

universities is a voluntary decision. Nevertheless, in the 21st century, it is one of the most

important issues companies, universities and all kind of organizations have to deal with. The

integration of social and environmental concerns in their business operations serves not only

their image and reputation but also the well-being of the society and an environmentally

friendly, sustainable development.

 These three aspects, economic, social and ecological concerns, are the main pillars of

the triple bottom line, which leads to a sustainable strategy. “In the simplest terms, the

Triple Bottom Line agenda focuses corporations not just on the economic value that they

add, but also on the environmental and social value that they add – or destroy.” (John

Elkington, Enter the triple bottom line, 2002)  

II. Social responsibility at universities, stakeholders of the WU

 From my point of view, a socially responsible institution offers fair employment

terms, and decent and human working conditions for its workers, transmits values to its

students to make them environmentally and socially conscious and ensures companies that

the graduates of the institution in question, they will occasionally hire, understand the

importance of CSR.

 First of all, it is important to differentiate the stakeholders. There are two types,

internal and external stakeholders. Internal stakeholders are the staff of the university

(2.127 /31. December 2013), like professors (84 /31. December 2013) and other employees,

as well as students (22.776 / winter semester 2013). External stakeholders are the

Government, since the WU is a public university, companies like OMV, Erste Bank, Raiffeisen

Bank etc. who are supporting the university, Research Sponsors (government ministries or

third party funding) and however indirectly, the inhabitants of Vienna, the city itself and

smaller businesses of the campus.

 To begin with the internal group of stakeholders, firstly, referring to working

conditions there are several factors that have to be considered. Employees have to be

treated with respect and cannot be subject of any discrimination. Furthermore a socially

responsible university doesn’t use forced labor and child labor. Additionally employees have

right to freedom of association and collective bargaining and they should be provided a safe