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• Corporate Social Responsibility

Corporate Social Responsibility argues that organizations, especially commercial businesses, have a duty of care to all of their stakeholders, their employees, their customers and the people they work and trade with, in all aspects of their operations. This duty of care is beyond their statutory obligation to comply with legislation. The concept asks organizations to work towards sustainable development rather than maximum profit. It asks organizations to become full partners in their communities and the communities they work or trade with; seeing those communities and people as more than just sources of profit and arguing that their decisions and aims should not be based solely on financial and economic factors such as profit but, also on immediate and long-term social and environmental responsibility.

The arguments for these considerations to be taken into account and to be taken seriously have come from increased sensitivity to, and awareness of, environmental and ethical issues. Environmental damage, poor treatment of workers and customers has become bad business, and consumers, the media and governments are demanding that companies improve their practices. These trends have contributed to the pressure on companies to operate in an economically, socially, and environmentally sustainable manner.

Volunteering is a major step towards corporate social responsibility. Volunteering strengthens the brand of the organization, creating good will on the ground and offering benefits and development to the employees, their communities and the trading regions and communities. Some big corporations have started Foundations via tax breaks, offering direct financial aid to conservation and community based programs. To fully become socially responsible, corporations are being urged to take further steps, taking into full account their impact on all stakeholders and on the environment when making decisions. This requires the company to balance the needs of all stakeholders, employees, customers and trading partners and regions, with its need to make a profit and reward shareholders adequately for their investments. Many investors are now being guided by a corporations social responsibility (ethical investing), and will accept lower personal returns in exchange for aiding social responsibility.