What is Corporate Responsibility?

Corporate Social Responsibility (CSR) reflects the commitments of any business and other organizations, whether in the private or the public sector, towards the society in which they operate.

The fact is that companies have an impact on society and the environment through their operations, products and services and through their interaction with key stakeholders such as employees, customers, investors, local communities, suppliers and others.

CSR means understanding such impacts and managing business processes in a way to add social, environmental and economic value for producing a positive sustainable outcome for both society and the business. In other words it’s a living managerial language, which penetrates into each function and can not be confined to random programs conducted by few departments in isolation from one another.

CSR is about believing and translating the words and the promises into real actions.

There is no universal definition of CSR because this concept is always being redefined thus, serving to needs and times, giving   each company individually the freedom to define the values and principles it stands for. 

Nevertheless, there are essential elements of CSR that need to be acknowledged:

     • CSR is voluntary in inspiration
     • CSR is multidimensional and diverse in application
     • CSR is interactive in building bridges between corporate bodies and society
     • CSR approach and implementation evolves and develops over time in an ongoing learning process

 
 Why should companies care about their social and environmental responsibilities?
“Environmental and Social Responsibility should beat at the heart of every business leader.” -Anita Roddick.

Businesses don’t exist in a geographical or social vacuum; they are a part of society and located physically in particular communities and areas. This is in part a general civic and social responsibility towards the local communities in which business operates.

Viva believes in Armenia and recognizes this responsibility and thus the Company has been always striving to integrate it in the core of any strategic thinking and planning, and this is reflected in its daily operational behavior.

Developing and communicating a comprehensive CSR strategy takes time, commitment, focus, dedicated people and financial resources. It requires as well commitment from the top management down. CSR strategy must permeate all what we do – from hiring to branding to manufacturing to sales.

CSR Benefits to Businesses
The increased awareness and focus on corporation’s responsibilities gives the business the opportunity to be important and powerful actor in society. It makes a business more competitive, resilient to shocks, and more likely to attract and hold both consumers and best employees.

The basic requirement for the economic development is sustainable business; the success of each business itself depends on the well-being of its citizens, society in its broadest sense.

Taking into consideration the fact that CSR aims at achieving advanced economy, development of harmonious society and preservation of natural environment, corporations and business communities should be the most interested identities in being engaged in CSR. It’s not by chance that CSR is also recognized as “win-win policy”.

The awareness of CSR is becoming so high that every stakeholder will demand information concerning its treatment in the companies. Customers will require companies to contribute to broader societal goals beyond the usual role of making profit, paying taxes etc.

                                                                         
 Viva believes that CSR procurement is becoming vital to encourage customers to buy from the responsible company, investors to put their trust in it and the best people to work for such a company.

CSR for Viva

Viva CSR vision is to better enhance the status of the company and that by positioning and developing its role as a pre-eminent local financial and business centre working for the benefit of Armenians, Armenia and its nation at large.

Viva is well aware that Corporate Social Responsibility is the subject of increasing attention and discussion at national and international levels bringing the business closer to society. Businesses that choose to ignore their society can harm their own success.
 
 Viva believes in its capacity to contribute in promoting the understanding of multidimensional and evolving nature of CSR, hoping to set an example for other local institutions to follow the same steps.

 For us CSR is to work and build business and social relationships based on respect, ethics, dedication responsibility and trust; to maintain healthy and safe workplace for all our employees; to provide the conditions which are conducive to the development of the professional strengths and sense of individual accountability; to strive for equal approach in employee hiring and promotion; to keep honest relationships with suppliers; to deliver quality service for all our citizens.

Prosperity can not be maximized in isolation; we must build it hand in hand, and it is hand in hand that we should walk towards future Armenia.