Corporate Social Responsibility, or CSR, refers to the practice where businesses take responsibility for their impact on society and the environment. This includes actions that go beyond profit-making, such as supporting community initiatives, reducing carbon footprints, and ensuring fair labor practices. Companies engage in CSR to contribute positively to society while also enhancing their brand reputation.
CSR can involve various activities, such as donating to local charities, implementing sustainable business practices, and promoting diversity and inclusion within the workplace. By adopting CSR strategies, companies aim to create a balance between economic growth and social well-being, ultimately benefiting both their stakeholders and the communities they serve.