What is corporate social responsibility and what is its purpose?

Corporate social responsibility may involve volunteering to do charitable works, conserving and cleaning the environment, ethical labor practices, and working in line with public expectations.

Purpose;

Give back to the society

Provide positive social values

Engagement of people

Improve the brand image

Corporate social responsibilities involves activities directed to benefit the community such as taking care of the environment or volunteering as ways of giving back to the community. Also, advocating for safe production and fair economic measures like employing ethically upright employees.

Main purpose of CSR is to develop a good brand image of the organization to the outside world. Customers will have a different view on a company that practice CSR; one that is not only concerned with profits but also social issues.

Companies give back to the society by stepping forwards to advocate for healthy production measures such as recycling.

CSR makes employees feel good to be part of the firm. People from outside will want to be associated with a company that support community in order to be part of the big achievement.

Corporate social responsibilities help firms improve on customer relations. Consumers like to purchase from companies with good reputation in being good corporate citizens. Many customers will have influence on growth hence increasing profitability and value to business.