CSR stands for “Corporate Social Responsibility”, corporates feel they have a responsibility towards the society at large; hence they integrate social and environmental concerns in their business operations and interactions with their stakeholders. A stakeholder is a party that has an interest in a company and can either influence or be influenced by the business it is associated with. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers. Some of the benefits of CSR to companies may include:

  • Better brand recognition.
  • Positive business reputation.
  • Increased sales and customer loyalty.
  • Operational costs savings and better financial performance.
  • Greater ability to attract talent and retain staff.
  • Organisational growth.
  • Easier access to capital.
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