Corporate Social Responsibility:What does it mean?
"More and more companies are accepting corporate citizenship as a new strategic and managerial purpose requiring their attention. Once seen as a purely charitable activity--a source of general goodwill, with no bottom-line consequence--citizenship is moving from the margins of concern to the center at leading companies."
Today, there are many references to corporate social responsibility (CSR), sometimes referred to as corporate citizenship, in our workplaces, in the media, in the government, in our communities. While there is no agreed-upon definition, the World Business Council for Sustainable Development defines CSR as the business commitment and contribution to the quality of life of employees, their families and the local community and society overall to support sustainable economic development. Simply put, the business case for CSR--establishing a positive company reputation and brand in the public eye through good work that yields a competitive edge while at the same time contributing to others--demands that organizations shift from solely focusing on making a profit to including financial, environmental and social responsibility in their core business strategies. Despite what the phrase corporate social responsibility suggests, the concept is not restricted to corporations but rather is intended for most types of organizations, such as associations, labor unions, organizations that serve the community for scientific, educational, artistic, public health or charitable purposes, and governmental agencies.
aswathi
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