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May 17, 2023

Corporate Social Responsibility (CSR) Explained With Examples

By Jason Fernando from Investopedia

Ubuntu principles: philanthropy

Corporate social responsibility is a broad concept that can take many forms depending on the company and industry. Through CSR programs, philanthropy, and volunteer efforts, businesses can benefit society while boosting their brands.

For a company to be socially responsible, it first needs to be accountable to itself and its shareholders. Companies that adopt CSR programs have often grown their business to the point where they can give back to society. Thus, CSR is typically a strategy that’s implemented by large corporations. After all, the more visible and successful a corporation is, the more responsibility it has to set standards of ethical behavior for its peers, competition, and industry.

Read more at https://www.investopedia.com/terms/c/corp-social-responsibility.asp

The Ubuntuworks Resource Hub provides organizations and individuals with data, stories, studies and support for a more connected and compassionate world.

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