Corporate Social Responsibility : Corporate Responsibility

773 Words Oct 18th, 2014 4 Pages
Corporate social responsibility may also be referred to as "corporate citizenship" and can involve spending finances that do not directly benefit the company but rather advocate positive social and environmental change. The soul in the next economy forum presentation made it evident that achieving corporate social responsibly in a company can reap major benefits in terms of finances, more inspiring workplace and customer satisfaction.

In the past, companies mistakenly thought that corporate social responsibility was corporate philanthropy but because of forums like the soul of the next economy, awareness about the real meaning of corporate social responsibility is increasing substantially. Corporate philanthropy is done with no expectation of financial gain but can lead to other gain by engaging employees and more recognition. Jorina Fontelera from Demand Media defines corporate social responsibility by comparing it to corporate philanthropy. Demand media describes corporate social responsibility as corporate philanthropy but addressing issues that affect “the environment, consumers, human rights, supply-chain sustainability and transparency for the greater good of the world at large”. Demand media describes CSR as a very positive idea because it provides good working conditions, tighter knit communities, and less greenhouses gasses emitted from plants. Corporate social responsibility differs from corporate philanthropy in the aspect that CSR is actively engaging in…
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