Question

Meaning and definition of corporate social responsibility

Answer 1

Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or responsible business) is a form of corporate self-regulation integrated into a business model.
Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. CSR is a concept with many definitions and practices.

Answer 2

Corporate social responsibility has been defined differently by different writers based on what they perceive about the concept. Having learnt from the devastating effects of corporate social irresponsibility, companies are focusing on the impacts of their operations not only on profits but the society and environment at large. Therefore, corporate social responsibility refers to "the ethical principle that an organization should be responsible for how its behaviour might affect society and the environment".From 1960, "corporate social responsibility" has remained a term used indiscriminately by many to cover legal and moral responsibility more narrowly construed.