CSR stands for Corporate Social Responsibility.It is a concept and practice that
refers to a company's efforts to make a positive contribution to society and the
environment beyond its core and profit-making activities.CSR involves a company
considering its impact on various stakeholders, including customers, employees,
communities, and the planet.
Key aspects of CSR typically include:
Corporate Social Responsibility
- Environmental sustainability:
Companies participate in initiatives to reduce carbon emissions, conserve natural resources, and minimize environmental damage.
- Social Responsibility:
This involves activities that benefit the community, such as charitable donations, volunteering, and supporting local initiatives.
- Ethical Business Practices:
Adhere to ethical standards in all business activities, such as fair labor practices, transparent governance and responsible sourcing.
- Employee benefits:
Ensure a safe and healthy working environment, pay fair wages and provide opportunities for career development and work-life balance.
- Customer Relations:
Provide quality products and services, be transparent about product information, and answer customer inquiries responsibly.
The goal of CSR is to create a positive corporate image, build trust with stakeholders, and contribute to a better society and environment.
Companies often publish CSR reports to communicate to the public their efforts and progress in these areas.
CSR is becoming increasingly important in the business world, as consumers and investors become increasingly aware of a company's social and environmental impact.