Definitions of Corporate Social Responsibility vary, but generally include aligning business operations with recognized social and environmental standards, fulfilling legal obligations but voluntarily going further to invest more in public goods such as human capital, environmental stewardship, and, in developing countries, poverty alleviation and national competitiveness.
Definitions of Corporate Social Responsibility vary, but generally include aligning business operations with recognized social and environmental standards, fulfilling legal obligations but voluntarily going further to invest more in public goods such as human capital, environmental stewardship, and, in developing countries, poverty alleviation and national competitiveness. Companies fulfill these responsibilities both through their daily operations and strategic planning—how they treat their employees, how they manage energy expenditures—and through their corporate philanthropy, their social investments on behalf of brand reputations, and stakeholders’ interests.
CSR is somewhat distinct from “corporate governance,” which targets the operations of corporate boards and shareholder relations, or from “corporate ethics,” which considers conflict of interests and other legal-ethical matters. CSR is also distinguishable from the personal or foundation philanthropy of high net-worth individuals and families, even though in cases where an individual’s identity is closely linked with a corporation, as Bill Gates and Microsoft, there is an obvious overlap with the social-giving component of CSR.
