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Economics

Study Notes

Corporate Social Responsibility

Level:
AS, A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

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:

  1. Altruism – being a good citizen
  2. Contracting benefits – e.g. helps recruit, motivate and retain employees
  3. Customer-related motivation: attract customers; brand positioning
  4. Lower production costs (packaging, energy usage)
  5. Risk management – address potential legal or regulatory action
  6. 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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