Corporate social responsibility

Topic Selected: Business

General Article icon Type: General Article

Definitions of social responsibility

Corporate social responsibility (CSR) is:

  • An obligation, beyond that required by the law and economics, for a firm to pursue long-term goals that are good for society.
  • The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as that of the local community and society at large.
  • About how a company manages its business process to produce an overall positive impact on society.

Corporate social responsibility means:

  • Conducting business in an ethical way and in the interests of the wider community.
  • Responding positively to emerging societal priorities and expectations.
  • A willingness to act ahead of regulatory confrontation.
  • Balancing shareholder interests against the interests of the wider community.
  • Being a good citize

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