What is “Corporate Social Responsibility (CSR)”?

Corporate Social Responsibility (CSR) refers to business practices that contribute to societal goals, such as environmental sustainability, community development, and ethical labor practices.

CSR activities are voluntary actions by companies to ensure their operations align with the broader social good. Companies often focus on reducing their negative impacts while enhancing their positive contributions to society.

Example

"The company’s CSR initiatives include funding local education programs, reducing carbon emissions, and ensuring fair labor practices in their supply chain."

How is “Corporate Social Responsibility (CSR)” Used in Business?

In business, CSR is used as a framework to ensure companies are aware of their impact on the environment and society. CSR strategies often lead to better brand loyalty, consumer trust, and can also improve employee morale.

Companies that focus on CSR may implement policies regarding sustainability, diversity, ethical sourcing, and philanthropic giving.

Pro Tip

To maximize the impact of CSR, ensure that initiatives align with your business values and resonate with your target audience. Authenticity is key in CSR efforts.

Related Terms

Sustainability, Ethical Sourcing, Community Engagement, Environmental Impact