Corporate Social Responsibility (CSR)

Corporate social responsibility (CSR) is a broad term used to describe a company’s efforts to improve its impact on society. A company’s CSR policy considers its responsibilities to different stakeholders, including employees, customers, shareholders, and the environment.

The concept of CSR has evolved over time, and there is no one agreed-upon definition. However, CSR generally refers to activities that go beyond what is required by law or expected by shareholders and aim to promote the common good. This can include environmental protection, support for charitable causes, or investing in employee wellbeing.

Proponents of CSR argue that it benefits society as a whole by creating a more sustainable business model. They also argue that it helps build trust between a company and its stakeholders and can improve employee morale. Critics of CSR argue that it can be used as a marketing tool rather than an genuine effort to improve social and environmental conditions. They also argue that it places an undue burden on businesses when government should be taking responsibility for these issues.