DEFINITIONS OF CSR

1.      Corporate Social Responsibility (CSR) is becoming an intrinsic component of every company’s way of doing business. It arose as a reaction by the business community to many cases of questionable executive behavior, more demanding consumers who are quite aware of sustainability issues and climate change, a broader global market, and the push for human rights from many different organizations. Like many other business-related initiatives, the emphasis on CSR has grown because it actually delivered on its promise of helping many corporations grow and, simultaneously, increase their operational performance.

2.      Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interests of society in all aspects of their operations, by taking responsibility for the impact of their activities on customers, employees, shareholders, communities, and the environment. This obligation is understood to extend beyond the statutory obligation to comply with legislation; organizations voluntarily take further steps to improve the quality of life for employees and their families, as well as for the local community and society at large.

3.      Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. [World Business Council for Sustainable Development]

4. CSR is about how companies manage the business processes to produce an overall positive impact on society. [Mallen Baker ]
   
   
5. CSR is a company’s commitment to operating in an economically, socially and environmentally sustainable manner whilst balancing the interests of diverse stakeholders. [CSR Asia]
   
   
6. Corporate social responsibility is the commitment of businesses to contribute to sustainable economic development by working with employees, their families, the local community and society at large to improve their lives in ways that are good for business and for development. [International Finance Corporation]
   
   
7. A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. [European Commission]
   
   
8. There is one and only one social responsibility of business-to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud. [Milton Friedman]
   
   
9. Corporate Responsibility is about ensuring that organizations manage their businesses to make a positive impact on society and the environment whilst maximizing value for their shareholders. [Institute of Chartered Accountants in England & Wales ]