What Is Corporate Social Responsibility (CSR)?
Corporate social responsibility involves ethically-focused business practices that can affect societal and environmental well-being in positive ways. Growing numbers of investors and consumers seek to invest their money in companies concerned not just with increasing shareholder value but with ethical and sustainable business choices, as well. Critics have argued that sound business doesn’t consider society to be a stakeholder, but consumers are affecting the profitability of companies that ignore CSR by spending elsewhere.
Key Takeaways
- Growing Importance of CSR: As investors and consumers increasingly prioritize ethical practices, businesses are adopting corporate social responsibility (CSR) to meet these expectations and benefit society and the environment.
- Dual Benefits of CSR: Implementing CSR not only positively impacts…
