What is corporate social responsibility? Provide examples and an explanation.
Corporate social responsibility is when a business practices the use of initiatives that benefit society. This is a very broad subject that could involve a company giving to charity, raising money from philanthropy, or using environmentally friendly products. For example, many company’s use recycled energy, promote recycling, or raise money for charities each year. What this does, is it shows the society that the specific firm cares about the environment in which they conduct business which can hopefully attract customers. There are people who really care about certain issues, and when they see a firm helping the same causes it can build a sense of trust or brand loyalty.