Corporate Social Responsibility is the inventiveness to evaluate and take responsibility for the organization’s effects on the environment and influence on social wellbeing. The term mostly applies to organization hard work that goes further than what may be required by regulators or environmental protection groups.
Corporate Social Responsibility may also be referred to as “Corporate Citizenship” and can include earning short-term costs that do not offer an immediate financial benefit to the organization, but instead encourage constructive social and environmental change. CSR treats international needs that influence positively the corporate reputation every act and project in the organization should hide behind it a vision for the benefits of the organization and the humanity as all.
Organizations have a lot of influence in the public and in the national economy. They control a lot of assets, and may have billions in cash at their disposal for socially conscious investments and programs. Some organizations may engage in “green washing”, or simulating interest in corporate responsibility, but many large corporations are dedicating real time and money to environmental sustainability programs, and various social welfare initiatives to benefit employees, customers, and the community at large.
A suitably applied CSR perception can carry along a variety of competitive advantages, such as enhanced access to capital and markets, increased sales and profits, operational cost savings, improved productivity and quality, efficient human resource base, improved brand image and reputation, enhanced customer loyalty, better decision making and risk management processes.