Corporate social responsibility (CSR) is a
business approach that contributes to
sustainable development by delivering
economic, social and environmental benefits
for all stakeholders. The CSR initiative is focused
on creating business value while promoting
positive change. This can be through
volunteering, support to charity or nonprofit
organizations, or implementing
environmentally-friendly policies. It is important
for a company to carefully plan how their CSR
initiatives can save or make money for their
business, while fulfilling a specific societal need.
Shared value is the goal.