CSR is a form of corporate self-regulation integrated into a business model.
CSR is about how companies manage the business processes to produce an overall positive impact on society.
CSR involves operating a business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business.
CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with the stakeholders on a voluntary basis.
Four Dimensions of CSR
• Economic : Responsibility to earn profit for investors
• Legal : Responsibility to comply with the law
• Ethical : Driven not just by profits but also doing what is right, just and fair.
• Voluntary & Philanthropic : Promoting human welfare, being a good corporate citizen contributing t the community and the quality of life.