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Corporate Social Responsibility (CSR), is a
form of corporate self-regulation integrated
into a business model. Ideally, CSR policy would
function as a built-in, self-regulating
mechanism whereby business would monitor and
ensure its adherence to law, ethical standards,
and international norms. Business would embrace
responsibility for the impact of their
activities on the environment, consumers,
employees, communities, stakeholders and all
other members of the public sphere.
Furthermore, business would
proactively promote the public interest by
encouraging community growth and development,
and voluntarily eliminating practices that harm
the public sphere, regardless of legality. |
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Essentially,
CSR is the deliberate inclusion of public interest into corporate decision-making, and the honoring of a triple bottom line: People, Planet, Profit. The practice of CSR is subject to much debate and criticism. Proponents argue that there is a strong business case for CSR, in that corporations benefit in multiple ways by operating with a perspective broader and longer than their own immediate, short-term profits. Critics argue that CSR distracts from the fundamental economic role of businesses, others argue that it is nothing more than superficial window-dressing, others yet argue that it is an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. Corporate Social Responsibility has been redefined throughout the years. However, it essentially is titled to aid to an organization's mission as well as a guide to what the company stands for and will uphold to its consumers.
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