Need assistance to define/explain Corporate Social Responsibility. What are the different types of social responsibility and why have these gradually taken more importance over time?
Corporate social responsibility is the incorporation of factors beyond financial profit into the business model. These practices include ameliorating the community and sustainability. These practices typically show the values and beliefs of the company stakeholders. Corporate social responsibility is a form of self-regulation in which the business monitors and controls its own adherence to morality, laws, regulations, and global standards. It incorporates responsibility into the firm's actions and creates a positive impact on the stakeholders. ...
This solution explains incorporation of factors beyond financial profit into business. The sources used are also included in the solution.