CSR
Corporate Social Responsibility
Corporate Social Responsibility (CSR) is a business ethos of blending environmental, social, and economic values into business planning and strategy.
Businesses that practice CSR often track, report, and pursue targets and initiatives for improvement towards non-financial goals alongside their financial performance.
Rationale for CSR
Organize Social Activities
CSR is a way for businesses to benefit their stakeholders and communities through voluntary environmental and social activities. In turn, this raises the perceived brand value of the company.
Make Your Brand Attractive
Companies pursue CSR to make their brand more attractive to investors, potential team members, and customers, who care about social impact and business longevity alongside short-term profits.
Maintain Trust
Companies engaging in CSR activities should remain authentic and transparent about their goals to maintain trust. One way to do this is to integrate CSR activities into C-level business strategy for marketing and financial planning.