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Understanding Corporate Social Responsibility

Corporate social responsibility (CSR) is a self-regulating business model that ensures companies are accountable to their stakeholders and society. The growing importance of CSR highlights businesses' obligation to pursue long-term goals that benefit both their communities and themselves. While not mandatory, engaging in CSR can lead to successful outcomes for both companies and the society they serve.

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Unnati M
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5 views2 pages

Understanding Corporate Social Responsibility

Corporate social responsibility (CSR) is a self-regulating business model that ensures companies are accountable to their stakeholders and society. The growing importance of CSR highlights businesses' obligation to pursue long-term goals that benefit both their communities and themselves. While not mandatory, engaging in CSR can lead to successful outcomes for both companies and the society they serve.

Uploaded by

Unnati M
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

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CSR

What is 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

CSR and its intervention in the business world


Now more than ever, there is a growing importance for
companies to ramp up their focus on social responsibility.
"Social responsibility," in simple terms, means a business’s
obligation to pursue achievable and good long-term goals for its
people and the world at large. Its observed that a number of
successful companies today that use social responsibility as a
way to give back to society and thank customers for their
loyalty. This can come in the form of projects, movements or
empowerment of individuals. Whatever form these corporate
ventures take, they are definitely a win for both the company
and the community alike. It’s also been seen that some
companies are taking the lead and venturing into humanitarian
projects ranging from the construction of roads to the
alleviation of poverty. Because corporate social responsibility is
not compulsory, many companies might not feel the need to
engage in it. However, there are several reasons to believe it is
important for companies to prioritize social responsibility.

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