Corporate responsibility (CR) is about the impact an organisation makes on society, the environment and the economy. ... Factors and mechanisms influencing corporate responsibility include legal and voluntary measures, partnerships with external agencies, and social and environmental reporting.
Formal corporate social responsibility programs can boost employee morale and lead to greater productivity in the workforce.
4 types of CSR
Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.
Environmental Responsibility. ...
Ethical Responsibility. ...
Philanthropic Responsibility. ...
Economic Responsibility
Main Purpose
The purpose of corporate social responsibility is to give back to the community, take part in philanthropic causes, and provide positive social value. Businesses are increasingly turning to CSR to make a difference and build a positive brand around their company.
Example
Some of the most common examples of CSR include: Reducing carbon footprints. Improving labor policies. ... Corporate policies that benefit the environment.
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