Corporate social responsibility (CSR) refers to a firm’s sense of responsibility towards the society in which it operates. Corporate social responsibility is critical to the long-term success of a business.

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Corporate Social Responsibility
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Definition
Corporate social responsibility (CSR)
refers to a firm’s sense of responsibility
towards the society in which it operates.
Corporate social responsibility is critical to
the long-term success of a business.

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Types
 The environment is often the primary focus of
CSR.
 Corporations align with certain institutions to
create a better environment for the society to live
and work in.
 Some businesses take up measures to
voluntarily eliminate production practices that
could affect the public.

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Benefits
 Consumers are more likely to buy products or
services from a companies that supports activities
to improve the society.
 Not only does it help to attract and retain
customers, but it also improves the reputation of a
company.
 The kind of CSR activity undertaken is also a
means to differentiate oneself from its competitors
in the market.

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