Corporate Social Responsibility

Corporate social responsibility (CSR) is the concept of organizations taking responsibility for their impact on society and the environment. Businesses which embrace CSR promote the public interest through what they do (for example, encouraging community growth and development) and what they refrain from doing (for example, eliminating or avoiding practices that harm stakeholders, regardless of whether such practices are legal). CSR is the inclusion of the public interest into corporate decision-making. Learning Outcomes Define corporate social responsibility (CSR) and explain how the concept has been broadened Describe the moral and economic arguments for CSR Outline the criticisms of CSR Explain the role of CSR standards and how CSR is measured Recognize the impact on corporations of their CSR performance Outline best practices for CSR