[title size=”2″]What is CSR  (Corporate Social Responsibility)?[/title]

CSR is an acronym of Corporate Social Responsibility. At its heart, CSR means that a company should behave in a responsible and beneficial way towards all those on whom its activities have an impact: these may include the society and community in which it is located, its workforce, its supply chain and customers, and the wider environment.

Companies often focus upon their community, giving monetary and practical aid to charitable causes (corporate philanthropy) or on environmental sustainability. However it could be argued that CSR also extends to such matters as ethical sourcing, diversity/disability in the workplace, even to the non-avoidance of tax in countries where profits are made.

CSR speaks volumes about who a company is, what it believes in and how it does its business. It’s a core element of reputation and can be used to help establish trust and goodwill amongst stakeholders. [Almost half] of people’s willingness to trust, admire, and feel good about a company is based on their perceptions of the corporate social responsibility of the company, so this is a key tool for companies to use to improve support from stakeholders like consumers, regulators, financial community, and employees.

Social and environmental factors drive corporate reputation, and CSR is now a lead driver in brand attributes. It not only drives brand perception, it also improves employee engagement. There is also an acceptance of companies communicating their CSR efforts through their PR channels.