Corporate social responsibility

Corporate social responsibility (CSR) or corporate social impact is a

form of international private business self-regulation .which aims to
contribute to societal goals of a philanthropic, activist, or charitable Page | 1

nature by engaging in, with, or supporting professional service

volunteering through pro bono programs, community development,
administering monetary grants to non-profit organizations for the
public benefit, or to conduct ethically oriented business and investment
practices. While once it was possible to describe CSR as an internal
organizational policy or a corporate ethic strategy similar to what is
now known today as Environmental, Social, Governance (ESG); that
time has passed as various companies have pledged to go beyond that
or have been mandated or incentivized by governments to have a
better impact on the surrounding community

 Corporate social responsibility is a business model by

which companies make a concerted effort to operate
in ways that enhance rather than degrade society and
the environment.
 CSR can help improve society and promote a positive
brand image for companies.
 CSR includes four categories: environmental impacts,
ethical responsibility, philanthropic endeavors, and
financial responsibilities.
 Definition
Business Dictionary that defines CSR as "a
company's sense of responsibility towards the
community and environment both ecological and
social) in which it operates.
Corporate social responsibility

Corporate social initiatives

 Corporate philanthropy: company donations to charity, including cash,

goods, and services, sometimes via a corporate foundation Page | 2
 Community volunteering company-organized volunteer activities,
sometimes while an employee receives pay for pro bono work on behalf
of a non-profit organization
 Socially-responsible business practices: ethically produced products
that appeal to a customer segment
 Cause promotions and activism company-funded advocacy campaigns
 Cause-related marketing: donations to charity based on product sales
 Corporate social marketing: company-funded behavior-change
campaigns