Social Responsibility: Definition and Perspectives

Corporate Social Responsibility (CSR) is the idea that business has: Social obligations above and beyond making a profit. Social obligations are to constituent groups in society other than stockholders and beyond that prescribed by law. Organizations include financial, environmental, and social responsibility in their core business strategies. Triple bottom line is people, planet and profit.

Carroll’s Corporate Global Social Responsibility Pyramid

CSR for global and transnational corporations working from the bottom up, CSR requires voluntary action, the global corporation should:

·         Make a profit

·         Obey the law

·         Be ethical in its practices

·         Be a good corporate citizen