The Mutual Marketing Glossary
Social Responsibility
Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interests of society (customers, employees, shareholders, communities and the environment) in their operations. This extends beyond compliance with legislation and sees organizations voluntarily taking steps to improve the quality of life. This may include helping individuals achieve personal social responsibility eg cutting down on waste going into landfill. In the longer term business cycle the purpose of firms oscillates between two extremes of welfare economics. 1. the business of businesses business, with focus on shareholders/business owners 2. the business of business is social, with the focus on society as a whole Companies in the 19th century such as Cadbury, Leaver Brothers, Rowntree and Salts Mill are classic examples of organizations who saw that their future (and thus sustainability) lay with a greater sense of CSR.
