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Corporate Social Responsibility

Corporate social responsibility (CSR) is the concept that organizations have an obligation to consider not only the interests of customers, employees, and shareholders but also of society, communities, and the environment in all aspects of their operations. This obligation extends beyond the statutory obligation to comply with legislation. Business and society are interdependent. The wellbeing of one depends on the wellbeing on the other. The World Business Council for Sustainable Development in its publication Making Good Business Sense used the following definition: CSR is the continuing commitment by business to behave ethically and 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 large.
See also: Corporate Environmental Responsibility; Corporate Environmental Reporting

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