Corporate Social Responsibility (CSR): Meaning, Examples, And Business Impact
Corporate Social Responsibility (CSR) is the responsibility of the businesses to behave in ethical ways and to positively impact on society and environment. While the primary emphasis is on the financial impact, CSR is about the considerations that businesses have to make about their impact on the employees, the customers, the community and the planet. In today's times, CSR is considered as a more than-voluntary effort. It has become a crucial component in enhancing trust, establish corporate reputation and further sustainable business development. What Is Corporate Social Responsibility? Corporate Social Responsibility is the business activities which take into account the social and environmental performance as well as the economic performance. By creating value for shareholders, companies practicing CSR also look into creating value for their stakeholders – employees, customers, suppliers and the community. Examples of CSR can be environmental protection, ethical labour pract...