Corporate social responsibility (CSR) refers to the approach that an organization takes

in balancing its responsibilities toward different stakeholders when making legal,

economical, ethical, and social decisions. As we all know, stakeholders are those who
have a vested interest in the company's success or failure, as well as the policies it
implements. 

"Social responsibility" can be refers to how an organization balances its responsibilities

toward all of its different stakeholders. 

Environmental responsibility is the idea that groups should act in ways that are as good
for the environment as possible. It's one of the most common ways that companies take
care of the community. Some businesses call these kinds of projects "environmental
stewardship."

Companies that want to take care of the environment can do so in a number of ways:

Getting rid of more pollution, greenhouse gas emissions, single-use plastics, water use,
and waste in general.

Putting limits on how much energy people can use by using more renewable energy,
sustainable resources, and recycled or partially recycled materials

Offsetting bad effects on the environment, such as by planting trees, funding research,
and giving money to related causes.

Economic responsibility is demonstrated by a company underpinning all of its financial

decisions with a commitment to doing good in the areas outlined above. The ultimate
goal is not only to maximize profits, but also to ensure that the business's operations
have a positive impact not only on the environment, but also on people and society.

Ethical responsibility entails ensuring a company works fairly and ethically. Accepting

ethical responsibility, organizations aim to exhibit ethical behavior by treating all
stakeholders fairly, including management, investors, employees, suppliers, and
customers.

In numerous ways, businesses can embrace ethical responsibility. For instance in

Nigeria, as the state or federal minimum wage does not constitute a "livable wage," a
private company or anyone may set its own, higher minimum pay. Similarly, a business
may stipulate that products, ingredients, materials, or components must be supplied in
accordance with the principles of free trade. In this regard, a number of businesses have
protocols in place to ensure they do not acquire goods produced through slavery or child
labor or any other unethical means.

Philanthropic responsibility  aids company's desire to actively improve the world and
society. Organizations driven by philanthropic responsibility frequently donate a portion
of their earnings in addition to acting as ethically and environmentally friendly as
possible. While many businesses donate to charities and nonprofits that align with their
guiding missions, others donate to deserving causes that have nothing to do with their
business.

how does taking care of these responsibilities lead to sustainability?

Corporate social responsibility helps business leaders look at their hiring and
management of employees, where they get products or parts, and how they provide
value to its customers.

Sustainability will aid an organization in attracting employees, shareholders, and

customers who are invested in the goals of sustainability and share these values. The
impact of sustainability can therefore be positive for a business’ image as well as its
revenue.