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Corporate Social Responsibility (CSR)
A company's commitment to manage the social, environmental, and economic effects of its operations responsibly and in line with public expectations.
Implications
A company�s commitment to operate in an ethical and sustainable manner, considering its impact on society, the environment, and its stakeholders, often integrated into its corporate strategy and public image.
Example
Example: A consumer goods company implements CSR initiatives by reducing its carbon footprint, supporting local communities, and ensuring fair labor practices in its supply chain.
Related Terms
Different from corporate philanthropy, which involves charitable donations, CSR is about integrating ethical practices into the core operations and strategy of the business.
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