Corporate Social Responsibility: Definition, Benefits, and Examples

Corporate social responsibility refers to the obligation of companies to act in a socially responsible manner that benefits society, the environment, and stakeholders beyond their shareholders. This includes taking into account the impact of their operations on the environment, treating employees fairly, supporting local communities, and behaving ethically and transparently in all their dealings. Corporate social responsibility is increasingly seen as a key factor in building a sustainable business that can thrive over the long term, and many companies are now adopting CSR policies and programs as part of their overall business strategy.