What is Corporate Social Responsibility?

CSR is about how companies manage the business processes to produce an overall positive impact on society. Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. CSR is about capacity building for sustainable livelihoods. It respects cultural differences and finds the business opportunities in building the skills of employees, the community and the government Why Companies are Doing CSR? Today, corporations are expected to give something back to their communities in the form of charitable projects. Being a good corporate citizen is increasingly crucial for commercial success. It is not good enough any longer just to be a good corporate citizen, you must also be seen to be. Corporate Social Responsibility has become increasingly important to businesses over the last few years. The case for demonstrating corporate responsibility is getting stronger. Expectations among key opinion formers, customers and the public are increasing, Staying on top of and in front of this strengthening tide of opinion for company involvement is a challenge for all companies. Some are meeting it; others are failing to do so, and still others are scrambling to catch up with public expectations. Corporate Social Responsibility cannot be an additional extra - it runs to the core of every company's ethics (both abroad and at home), and its treatment of employees and customers. With more and more companies responding to stakeholders' calls for increased accountability, and many publishing Health, Safety and Environmental or Social reports, the wider issues of business ethics remain key for all large companies What Is Good Governance? Good governance is an indeterminate term used in development literature to describe how public institutions conduct public affairs and manage public resources in order to guarantee the realization of human rights. Governance describes "the process of decision-making and the process by which decisions are implemented (or not implemented)". The term governance can apply to corporate, international, national, local governance or to the interactions between other sectors of society. What is Social Responsibility? Social responsibility is an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to act to benefit society at large. This responsibility can be passive, by avoiding engaging in socially harmful acts, or active, by performing activities that directly advance social goals.