Answer to Question #315779 in Management for Fiona

Question

Explain the concept and practice of corporate social responsibility (CSR).

Answer 1

Corporate social responsibility (CSR) is a company’s commitment to manage the social, environmental and economic effects of its operations responsibly and in line with public expectations.

It is part of a company’s approach to corporate governance and often touches every part of the business—operations, human resources, manufacturing, supply chain, health and safety, and more.

CSR activities may include:

Company policies that insist on working with partners who follow ethical business practices

Reinvesting profits in health and safety or environmental programs

Supporting charitable organizations in the communities where a company operates

Promoting equal opportunities for men and women at the executive level