Many of you may have the question what is Corporate Social Responsibility? It is quite simple, Corporate social responsibility can be defined as the actions take by a company to operate in a economic, social and environmentally friendly manner, this means that the company operates under a goal where social benefit exceeds maximizing profits. Some of the ways in which a company can have a great CSR include having a low carbon footprint, having concern and care about local communities and citizens and donating to charities.
Different Types Of CSR
Ethical CSR:
Ethical CSR is the most commonly used type of Corporate Social Responsibility used today in companies. What Ethical CSR means, is that these companies clearly show a sense of social conscience to their shareholders by managing the financial responsibilities correctly, as well as their legal responsibilities to their local communities and citizens. "organizations in this category have typically incorporated their beliefs into their core operating philiosiphies" (Business Ethics Now Pg 74).
Altruistic CSR:
The Altruistic approach of CSR operates under the philanthropy model. Philanthropy means "the desire to promote the welfare of others, through the donation of money to good causes". Companies who operate in a Altruistic fashion generally have initiatives set up where the company either donates their time or money to the local surrounding communities or created national programs in which they can donate to.
Strategic CSR:
Strategic CSR is very similar to Altruistic, it too operates under the philanthropy approach, The companies who use the Strategic CSR approach target organizations that are popular around the world, so that they can gain positive publicity for the company. Many people believe that this type of CSR is a selfish act because they are doing to gain publicity , and not for the good of the people
Different Types Of CSR
Ethical CSR:
Ethical CSR is the most commonly used type of Corporate Social Responsibility used today in companies. What Ethical CSR means, is that these companies clearly show a sense of social conscience to their shareholders by managing the financial responsibilities correctly, as well as their legal responsibilities to their local communities and citizens. "organizations in this category have typically incorporated their beliefs into their core operating philiosiphies" (Business Ethics Now Pg 74).
Altruistic CSR:
The Altruistic approach of CSR operates under the philanthropy model. Philanthropy means "the desire to promote the welfare of others, through the donation of money to good causes". Companies who operate in a Altruistic fashion generally have initiatives set up where the company either donates their time or money to the local surrounding communities or created national programs in which they can donate to.
Strategic CSR:
Strategic CSR is very similar to Altruistic, it too operates under the philanthropy approach, The companies who use the Strategic CSR approach target organizations that are popular around the world, so that they can gain positive publicity for the company. Many people believe that this type of CSR is a selfish act because they are doing to gain publicity , and not for the good of the people