Corporate Social Responsibility (CSR) Overview

Actions taken by a company that go beyond profit maximization to benefit society. This includes addressing social and environmental issues, exceeding legal obligations, and contributing to the well-being of stakeholders.

The belief that a company's only responsibility is to maximize profits for its shareholders by meeting customer needs and obeying the law. This perspective prioritizes shareholder value above all else.

The view that corporations have obligations not just to shareholders, but also to a broader set of stakeholders, including customers, employees, suppliers, and the community, and must consider their impacts on these groups.

The idea that companies should consider the long-term consequences of their actions on the world, including sustainability, social equity, and environmental impact. It encourages companies to take responsibility for their impact on all stakeholders.

The increasing availability of information about companies' actions, making it harder for them to hide unethical behavior or disregard social responsibility.

The increasing knowledge and access to information about social and environmental issues allows consumers and investors to make informed choices about which companies to support.

The growing awareness of the long-term consequences of unsustainable practices, including climate change and resource depletion, encourages companies to adopt environmentally friendly practices and ethical business models.

The interconnectedness of economies and cultures across the globe, requiring companies to consider their impact on communities and ecosystems in different parts of the world.

The earth's natural systems are deteriorating, pushing corporations to incorporate environmentally sound and sustainable development practices into their business plans and strategies.

Globalization represents a new stage of capitalist development, where corporations increasingly operate across borders. This compels them to consider the ethical implications of their actions on a global scale.

When governments struggle with corruption or inefficiency, citizens lose faith in their ability to address social issues. This creates an opportunity for corporations to step in and fill the void.

Companies adopting CSR practices may face potential negative consequences, such as employees feeling insincere about the company's efforts, the public perceiving CSR as mere publicity stunts, and a lack of tangible benefits for the company.

A framework where companies report their financial performance alongside their social and environmental impact, recognizing that success extends beyond profits.

Companies pursuing CSR with a strong ethical foundation, balancing financial obligations to shareholders with legal and moral responsibilities to the community and stakeholders.

Companies engaging in philanthropic activities to support their local community or specific causes, without direct concern for their own profitability.

Companies strategically aligning their philanthropic efforts with initiatives that generate positive publicity, potentially viewed as self-serving.