The concept CSR has been in the forefront for many years now.
It not has not only grown in importance academically but also business wise as well. CSR encapsulates a range of values and criteria for determining a company’s contribution to societal development. CSR is synonymous to terms such as corporate citizenship, business ethics, stakeholder management and sustainability. Deeply rooted in the concept of philanthropy, CSR is an emerging topic which mainly focuses on going beyond just charity. Around the world, companies are acknowledging the calculated importance of creating and building practices that end in sustainable bottom lines, balanced economies, ecosystems and societies.
DEFINITION OF CSR:
The full form of CSR is Corporate Social Responsibility and it basically means to safeguard the success of the business by incorporating social and environmental contemplations into company’s processes. Moreover, CSR also means fulfilling your shareholders and customers demands while also dealing with the expectations of employees, suppliers and the community as a whole. Being a part of a cause which effects positively to society as well as managing the organization’s ecological impact is what CSR stands for. Activities started by the organization as well as the methods that the organization puts to use in order to earn the profits to allow social and environmental growth. To make the most of organizational complete impact on the civilization as well as stakeholders incorporating environmental and sustainability on the whole is the simple objective of CSR.
You can read up to 3 premium stories before you subscribe to Magzter GOLD
Log in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines
READ THE ENTIRE ISSUE