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Corporate Social Responsibility

  • Date Submitted: 11/12/2013 12:54 AM
  • Flesch-Kincaid Score: 18.6 
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Corporate social responsibility:   the responsibilities that businesses have to the societies within which they operate. A company‚Äôs sense of responsibility towards the community and environment in which it operates.

Corporate sustainability report: Provides all stakeholders with financial and other information regarding a firm's economic, environmental, and social performance. Report published by a company that shows the economic, social, and environmental factors caused by its everyday activities.  
Economic model of CSR: Limits a firm's social responsibility to the minimal economic responsibility of producing goods and service and maximizing profits within the law. Model with economic constraints such as the basic production of services and goods and profit maximization without outgoing the law.

Intregative model of CSR: for some business firms, social responsibility is fully integrated within the firm's mission or strategic plan. The social responsibility is often found in mission statement or known to everyone by the common goals and plan.
Philanthropy model of CSR: holds that, like individuals, business is free to contribute to social causes as a matter of philanthropy. Business have no strict obligation to contribute to social causes. A common approach to CSR that includes monetary donations and aid given to local and non-local nonprofit organizations and communities, including donations in areas such as the arts, education, housing, health, social welfare, and the environment.
Reputation management: The practice of attending to the "image" of the firm. Reputation management is the process of identifying what other people are saying or feeling about you or your business

Social entrepreneurship
| A movement that seeks to address social problems through the creativity and efficiency of market forces. Social entrepreneurship involves the standard entrepreneurial characteristics of innovation, creativity, and risk-taking, but marshals these skills...

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