What Is Corporate Social Responsibility (CSR) ?

Corporate Social Responsibility (CSR) 

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental. To engage in CSR means that, in the ordinary course of business, a company is operating in ways that enhance society and the environment, instead of contributing negatively to them. 

 KEY TAKEWAYS 

• Corporate social responsibility is a business model in which companies make a concerted effort to operate in ways that enhance rather than degrade society and the environment. 
• CSR helps both society and the brand image of companies. 
• Corporate responsibility programs are a great way to raise morale in the workplace. 
• Some examples of companies that strive to be leaders in CSR include Starbucks and Ben and Jerry's.