1. Meaning : corporate Social Responsibility (CSR) focuses on the idea that a business has social obligations above and beyond making profit and follows from a decision by management to expand traditional governance arrangements to include accountability to the full range of stakeholders.
2. Scope: CSR is a way of integrating the economic, social, and environmental imperatives of business activities. The term corporate citizenship denotes the extent to which business enterprises meet the (a) legal, (b) ethical, (c) economic and (d) voluntary / discretionary responsibilities, placed on them by their stakeholders.
3. Definitions: CSR is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of the life of the workforce and their families as well as of the local community and society at large.
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