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Cost of Social Responsibility Model

Summary: The cost of social responsibility (CoSR) is a fairly new and controversial concept, but is meant to expand on the cost of quality (CoQ) model and account for costs incurred when an organization introduces more social responsibility into their processes. These costs cover all manner of things including monitoring and reporting, governance, oversight, advocacy, and adoption, to name a few. Whether the costs are for an organization to adopt social responsibility measures, or to maintain a current system that adheres to social responsibility standards, management of these costs is critical to any organization. These costs have proven for many organizations to be beneficial in the long term and adopting social responsibility makes many organizations more competitive in their respective markets. The traditional approach of tracking cost of quality through failure or conformance does not adequately cover costs associated with social responsibility, and therefore, cost of social responsibility models need to be taken into account as well.

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  • Topics: Social Responsibility
  • Keywords: Cost of quality (COQ), Management, Process, Stakeholders, Community, Social responsibility
  • Author: Zrymiak, Daniel;
  • Journal: Journal for Quality and Participation