Modern organizations are expected not only to earn profit but also to act responsibly toward society and the environment. Corporate Social Responsibility (CSR) is the commitment of a business to operate ethically and contribute to economic development while improving the quality of life of employees, local communities and society. Sustainability focuses on long-term balance so that present needs are met without harming future generations. This topic explains meaning, need, practices and exam-oriented points with tables and a simple CSR cycle.
CSR (Corporate Social Responsibility) means voluntary and/or policy-driven actions by a company to take responsibility for its impact on society, employees, customers and environment.
Sustainability means using resources responsibly so that economic growth, social well-being and environmental protection can be maintained in the long run.
The Triple Bottom Line (TBL) is a sustainability framework:
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Modern organizations are expected not only to earn profit but also to act responsibly toward society and the environment. Corporate Social Responsibility (CSR) is the commitment of a business to operate ethically and contribute to economic development while improving the quality of life of employees, local communities and society. Sustainability focuses on long-term balance so that present needs are met without harming future generations. This topic explains meaning, need, practices and exam-oriented points with tables and a simple CSR cycle.
CSR (Corporate Social Responsibility) means voluntary and/or policy-driven actions by a company to take responsibility for its impact on society, employees, customers and environment.
Sustainability means using resources responsibly so that economic growth, social well-being and environmental protection can be maintained in the long run.
The Triple Bottom Line (TBL) is a sustainability framework:
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Benefits of CSR include:
(Any three benefits can be written.)
CSR practices/activities include:
(Any three practices can be written.)
CSR (Corporate Social Responsibility) is the commitment of a business to operate ethically and take responsibility for its impact on society and the environment. CSR is important because modern organizations are judged not only by profit but also by how responsibly they treat people and the planet.
Importance of CSR:
A useful CSR framework is the Triple Bottom Line:
Thus, CSR makes business more responsible, trusted and sustainable in the long run.