Corporate Social Responsibility (CSR), also called corporate citizenship, is a management concept through which companies integrate social and environmental concerns in their business operations as well as interactions with their stakeholders.

CSR is popularly used to describe a company’s efforts to improve society in its own way. Such efforts can include donating, sponsoring, fundraising for a social cause, voluntary efforts in favor of mass people, green or environment-friendly practices and so on.

CSR provides a company with the opportunity to evaluate and understand the kind of impact they are having on different aspects of the society including economic, social, and environmental spheres. As a self-regulating business model, CSR also helps companies to be socially accountable: to themselves, the stakeholders and the public in general.

Useful readings

McWilliams, Abagail; Siegel, Donald (2001). Corporate social responsibility: A theory of the firm perspective. Academy of Management Review.
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