About Corporate Social Responsibility

What is corporate social responsibility (CSR)?

Definitions of CSR range from business ethics, to sustainability, to corporate citizenship. Some companies simply see CSR as "the right thing to do", while others see it as a strategic differentiator for their company and a means to achieving greater business value.

CBSR defines CSR as a company's commitment to operating in an economically, socially and environmentally sustainable manner, while recognizing the interests of its stakeholders, including investors, customers, employees, business partners, local communities, the environment and society at large.

Why should today's companies be interested in CSR? 

Many of today's successful companies are operating with their stakeholders in mind. Their progressive corporate social performance contributes to their long-term financial viability, which further promotes healthy communities and stable economies. 

What does CSR mean to the bottom line?

The benefits of CSR can be quantified and measured. Here are a few examples of how socially responsible companies experience positive effects on their financial bottom line:

• Reduced operating costs
• Enhanced brand and image reputation
• Increased sales and customer loyalty
• Increased ability to attract and retain employees
• Publicity and increased public image from good works 

What is the difference between CSR and regular good works?

CSR goes beyond good works such as volunteerism and charity. Companies that practice CSR develop policies and programs in areas such as employee relations, community development, environmental stewardship, international relationships, marketplace practices, fiscal responsibility and accountability.

Why do consumers care about CSR?

Sustainability and community health have never been more important and corporations are recognized as an integral part of community. Companies accountable for their corporate social performance are perceived as better able to offer consumers and communities real value for goods and services, without harming people or the environment.