Corporate Social Responsibility (CSR), is the continuing commitment by firms to behave ethically while also contributing to the economic development. CSR can also be defined as a corporation's sense of responsibility towards the community and the environment. Today, businesses are expected to extend their attention beyond stockholders, customers, and employees to include other stakeholders such as the community and environment. The concept of CSR emerged from such expectations and now consists of transparent organizational management; careful consideration of the global environment, human rights, and employment; and, in particular, compliance with ordinances, regulations, and laws. .
Broadly defined as a responsibility for firms to behave ethically and contribute to the society within their scope, CSR can lead to more sustainable corporations by encouraging good relationships with society. Ethical behavior includes a wide range of activities such as treating customers, employees, and business partners fairly; supporting social causes; protecting and improving the natural environment; and so on.
Managers continually encounter demands from multiple stakeholder groups to devote resources to CSR. These pressures emerge from customers, employees, suppliers, community groups, governments, and most importantly shareholders. Stakeholders have their own expectation of responsible behavior from a business. As we see from newspapers, radio and the television, if such expectations are not met, then these stakeholders might take action in a variety of ways to affect the success of a business in some or all of the markets in which it operates.
