Study Notes
Corporate Social Responsibility
- Level:
- AS, A-Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 21 Mar 2021
Corporate social responsibility (CSR) is when companies integrate social and environmental concerns into their business operations and in their interaction with their stakeholders on a voluntary basis.
Some reasons why firms are embracing CSR:
- Altruism – being a good citizen
- Contracting benefits – e.g. helps recruit, motivate and retain employees
- Customer-related motivation: attract customers; brand positioning
- Lower production costs (packaging, energy usage)
- Risk management – address potential legal or regulatory action
- Improved access to capital – for example, the rise ethical investment funds looking to make equity investments in companies with strong CSR reputations
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