Corporate Social Responsibility
Corporate social responsibility
Corporate social responsibility is a form of corporate self-regulation integrated into a business model. The idea is that company’s role is not just about producing goods, but also it has a duty to help people in society and to protect the environment. However, such system has not only pros, but also cons for a business.
Considering the advantages of CSR, this model improves the image of the company on the local and national level and in the same way it overcomes hostility to business in society. Accordingly, it increases the value of the company as well as sales volume. Besides, with this system relationship with authorities, intra-firm relationship and generally employee loyalty move to the better level. Moreover, one of the main positives of CSR is getting the attention of new investors, which obviously gives impetus to further development of business.