CORPORATE SOCIAL RESPONSIBILITY
Corporate Social Responsibility (CSR) is becoming an increasingly important activity to
businesses nationally and internationally. As globalisation accelerates and large
corporations serve as global providers, these corporations have progressively recognised the
benefits of providing CSR programs in their various locations. CSR activities are now being
undertaken throughout the globe.
1.1 What is corporate social responsibility?
The term is often used interchangeably for other terms such as Corporate Citizenship and is
also linked to the concept of Triple Bottom Line Reporting (TBL), which is used as a
framework for measuring an organisation’s performance against economic, social and
The rationale for CSR has been articulated in a number of ways. In essence it is about
building sustainable businesses, which need healthy economies, markets and communities.
The key drivers for CSR are
‰ Enlightened self-interest - creating a synergy of ethics, a cohesive society and a
sustainable global economy where markets, labour and communities are able to
function well together.
‰ Social investment - contributing to physical infrastructure and social capital is
increasingly seen as a necessary part of doing business.
‰ Transparency and trust - business has low ratings of trust in public perception.
There is increasing expectation that companies will be more open, more accountable
and be prepared to report publicly on their performance in social and environmental
‰ Increased public expectations of business - globally companies are expected to
do more than merely provide jobs and contribute to the economy through taxes and