Corporate Social Responsibility (CSR) and Corporate Social Performance (CSP)

The concept of corporate social responsibility (CSR) refers to the general belief held by many that modern businesses have a responsibility to society that extends beyond the stockholders or investors in the firm. That responsibility, of course, is to make money or profits for the owners. These other societal stakeholders typically include consumers, employees, the community at large, government, and the natural environment. The CSR concept applies to organizations of all sizes, but discussions tend to focus on large organizations because they tend to be more visible and have more power. And, as many have observed, with power comes responsibility.

A related concept is that of corporate social performance (CSP). For the most part, CSP is an extension of the concept of CSR that focuses on ...