Backgrounder: Corporate Social Responsibility

When profit is not enough

The phrase ''corporate social responsibility'' (CSR) is used to describe why, when, and how businesses manage their social, environmental, and economic aims and performance. It is an expression of the belief that it is not enough for a company simply to profit its owners. Rather, CSR holds that a company also must ensure that it does little or no harm to, and preferably helps, its workers, the environment, and the communities in which it operates.

As such, CSR is a balancing act between the interests of a company's various ''stakeholders'' including shareowners, executives, employees, communities, and customers. It also is referred to as ''good corporate citizenship'', ''compassionate capitalism'', and ''business ethics''.

See full Article.