Corporate Social Responsibility

Definition of Corporate Social Responsibility as it relates to Business, Business Law, Business Ethics

Corporate Social Responsibility (CSR) refers to a business strategy that involves companies taking responsibility for their impact on society and the environment, beyond their legal obligations. It encompasses ethical considerations in decision-making and operations, and often includes initiatives related to philanthropy, sustainability, and community development. Companies engaging in CSR aim to align their values and actions with the expectations of stakeholders, including customers, employees, investors, and the wider public. This approach can foster a positive reputation, build trust, and contribute to long-term success for businesses while also benefiting society as a whole.

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