In today’s world, businesses are expected to do more than just make money. Customers, employees, and investors want to see companies making a positive impact on society and the environment. This is where philanthropy and corporate social responsibility (CSR) come in. Companies that give back are not only doing good but are also improving their reputation and ensuring long-term success.
1. What is Corporate Social Responsibility (CSR)?
Corporate Social Responsibility (CSR) means that businesses take responsibility for their impact on society, the environment, and the economy. Instead of focusing only on profits, CSR involves businesses doing good by supporting social causes, protecting the environment, and ensuring ethical practices. Over time, CSR has moved beyond just donating money; it now includes a wide range of actions like sustainability, ethical sourcing, and community support.
Vishal Choksi