Corporate social responsibility (CSR)
Corporate social responsibility (CSR) activities are actions that companies take to improve society and the environment.
CSR activities can include donating to charities, reducing pollution, and supporting community development.
Types of CSR activities:
Environmental responsibility: Reducing pollution, recycling, and using energy-efficient processes
Ethical responsibility: Ensuring fair wages, safe working conditions, and equal opportunities
Philanthropic responsibility: Donating to charities, supporting community projects, and encouraging employee volunteerism
Economic responsibility: Making financial decisions that consider the greater good, such as investing in education programs
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Why companies participate in CSR
CSR can help companies build a positive brand, attract investors and employees, and improve their reputation.
CSR can also help companies understand and mitigate the negative social and environmental impacts of their business operations.
CSR in practice
CSR is a self-regulated practice that companies can use to be more accountable to their stakeholders and the public.
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