Corporate Social Responsibility of Business

1. Corporate Social Responsibility of Business Corporate social responsibility is the concept of incorporating philanthropy, ethics, and activism into business practices to benefit both society and the company itself. Corporate social responsibility is the concept of incorporating philanthropy, ethics, and activism into business practices to benefit both society and the company itself. These efforts, whether large or small, say a lot about your organization. Companies that consistently demonstrate their commitment to CSR initiatives are recognizing their ability to help their community and acting on that knowledge. To engage in CSR (Corporate Social Responsibility) means that, in the ordinary course of business, a company is operating in ways that enhance society and the environment instead of contributing negatively to them. Through corporate social responsibility programs, philanthropy, and volunteer efforts, businesses can benefit society while boosting their brands. Examples of common Corporate Social Responsibility objectives include minimizing environmental externalities, promoting volunteerism among company employees, and donating to charity.

2. TYPES OF CORPORATE SOCIAL RESPONSIBILITY TO BE AWARE OF •Environmental Responsibility Environmental responsibility refers to the belief that organizations should behave in as environmentally friendly a way as possible. It’s one of the most common forms of corporate social responsibility. Some companies use the term “environmental stewardship” to refer to such initiatives. •Ethical responsibility Ethical responsibility is concerned with ensuring an organization is operating in a fair and ethical manner. Organizations that embrace ethical responsibility aim to achieve fair treatment of all stakeholders, including leadership, investors, employees, suppliers, and customers. •Philanthropic Responsibility Philanthropic responsibility refers to a business’s aim to actively make the world and society a better place.

3. •Economic responsibility Economic responsibility is the practice of a firm backing all of its financial decisions in its commitment to do good in the areas listed above. For more info: https://tenimpact.in/portfolio/csr-sustainability