Corporate Social Responsibility

Corporate social responsibility (CSR) refers to the general belief that businesses have a range of responsibilities that extend beyond the shareholders in the firm, including obligations to consumers, employees, governments, the environment, and the public as a whole. CSR, then, suggests that businesses not only provide quality goods and services and jobs but also address the legal, ethical, and discretionary expectations that society has of them at a given point in time. This entry first explains the history of CSR and the major theories and practices related to it. It then discusses criticisms of CSR and implications for corporate reputation.

CSR may include, but is not limited to, corporate philanthropy, volunteerism, cause-related marketing, and community-based initiatives that focus on a wide range of social, economic, and ...