Corporate social responsibility is a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment A concept

whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. Being socially responsible means not only compliance with all legal obligations, going beyond through increased investment in human capital, environment, and relations with stakeholders and local community Four Component of CSR strategy-----1. Economic Component First of all, companies are the basic economic unit in our society. As such, they have a responsibility to produce goods and services that society needs, and then sell them, making a profit. Organizations have to be managed in a way that can be economically sustainable. They have to fulfill their contracts with suppliers in time, they have to pay their employees properly, etc, which can be difficult when they are dealing with financial problems. Legal Component In addition to the fact that society expects companies to have profit, it also expects companies obey the law. The law represents the rules by which organizations are expected work. Compliance with legal requirements is the minimum acceptable in CSR. CSR strategies must go beyond that, The other two responsibilities represent the attempt of Carroll to specify the type or nature of the responsibilities that go beyond compliance with the law

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3. Ethical Component - In later years, Carroll (1981, 1991) focused on the ethical component of CSR, arguing that this has seen a remarkable growth, despite being a gray area. Ethics represents a whole set of moral principles written and unwritten, by which the company operates its nuclear level. It is the soul of the company and its constituent parts. Ethical responsibilities embody those standards, norms, or expectations that reflect a concern for what consumers, employees, shareholders, and the community regard as fair, just, or in keeping with the respect or protection of stakeholders moral rights.

4. Discretionary Component Finally, what are called discretionary responsibilities These specific activities are guided by the desire of businesses to achieve social roles not required by law and not expected in an ethical sense, but yet are increasingly strategic, e.g. philanthropic contributions, training of long-term unemployed, providing day care for working mothers, etc. CSR has an internal and an external dimension. In the internal dimension, the practices of social responsibility apply mainly to workers and relate to issues such as investment in human capital, health, safety, and management, while environmentally responsible practices relate mainly to the management of natural resources used in the production processes.

THE STRATEGIC DIMENSION OF CSR .The sustainability strategy should be integrated into the strategy of the company, otherwise failure will be guaranteed.

1. Formulate a strategy based on sustainability- To be truly effective, sustainability must be included in its business strategy.

2. Consider sustainability in all aspects of business- Sustainability cannot be seen as an area of business isolated in a particular department of the company (Human Resources or Marketing and Communication, for example). To be effective, it must involve all departments of the company genuinely and in a systemic way, and each one should carry out an internal reflection on its main impacts.

3. Give the example 4. - The companys leaders must believe in what they asking of their employee and other stakeholders and lead by example daily in a formal and informal way.

4. Create an interdepartmental group with responsibility and autonomyAs mentioned previously, the issues related to CSR should not be monopolized in a single department. The organization must create a group in which elements from the top management belong and within which the strategy for organizational sustainability will be discussed and developed.

5.Stakeholders Engagement - It is crucial to really know the impacts and expectations from the stakeholders point of view. Later in the next chapters you can learn more about this topic.

6. Join the networks available in your countryThe relations of partnership and knowledge exchange should be encouraged in order to share experiences and resources. There are various networks and entities for free share experiences and knowledge. In recent years, the collection and dissemination of good practices that can serve as guidelines for the operationalization of strategies for social responsibility have also been encouraged

7. Incorporating sustainability in the vision and mission statement of

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organization-The mission and vision of an organization should include values or principles to ensure the centrality of sustainability, so that the organization is publicly recognized, both internally and externally, as a sustainable company. Ex: - Our mission is to meet the actual requirements of different types of customers / markets for the total satisfaction and loyalty of our customers through a sustainable business model that generates social capital, thereby contributing to the development of integrated community

8. Communicate, communicate, and communicate- (in a socially responsible way) in a differentiated way according to the different needs of the stakeholders. The communication of good practices of social responsibility encourages other best practices from other market players forming a virtuous cycle that facilitates the

sustainable development of our society. This shall be done internally and externally so that the awareness can grow.