Corporate social responsibility (CSR)
from Capstone Encyclopaedia of Business
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CSR has been defined by the World Business Council as â€˜the continuing commitment by business to
behave ethically and to 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 largeâ€™. The intention of
companies adopting a socially responsible corporate attitude is to ensure a positive social,
environmental, and economic impact on the communities within which they operate and on all other
Business ethics â€“ the consideration of how business and businesspeople should behave toward each
other and toward the public â€“ plays a large part in CSR.
Some industries, particularly law and medicine, have a clearly defined code of professional ethics. In
other industries, appropriate behaviour has been established over time by practice. At its most
complex, business ethics touches on the role of the company in society. Issues such as the effect of a
petrochemical companyâ€™s actions on the environment, or the obligation of a pharmaceutical company
to make its drugs available to third-world nations, are difficult and contentious areas of business ethics.
As lobbyists and pressure groups become more powerful, companies are forced to pay greater
attention to corporate responsibility and business ethics.
Copyright Â© Capstone Publishing, 2003
Corporate social responsibility (CSR). (2003). In Capstone Press, Capstone encyclopedia of business.
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“Corporate social responsibility (CSR).” In Capstone Encyclopaedia of Business, by Capstone Press.
Wiley, 2003. http://library.capella.edu/login?
Corporate social responsibility (CSR). (2003). In Capstone Press, Capstone encyclopedia of business.
[Online]. Hoboken: Wiley. Available from: http://library.capella.edu/login?
institutionId=816 [Accessed 28 May 2021].
“Corporate social responsibility (CSR).” Capstone Encyclopaedia of Business, Capstone Press, Wiley,
1st edition, 2003. Credo Reference, http://library.capella.edu/login?
institutionId=816. Accessed 28 May 2021.
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