What is Corporate Social Responsibility?

Corporate social responsibility (CSR) refers to the methods an organisation uses to demonstrate their commitment to making a positive impact on the society in which they operate. These efforts can take the form of formal CSR programs, volunteer efforts and philanthropy. Larger organisations tend to have a full year-long program that is documented for the benefit of shareholders and the wider community. Benefits of having a CSR program include increased brand awareness and staff retention, greater customer loyalty and a positive impact on financial performance.