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Meaning of Corporate social responsibility (CSR) Saturday, October 22, 2005 Meaning of Corporate social responsibility (CSR) CSR is an expression used to describe what some see as a company’s obligation to be sensitive to the needs of all of its stakeholders in its business operations. The principle is closely linked with the imperative of ensuring that these operations are "sustainable" i.e. that it is recognised that it is necessary to take account not only of the financial/economic dimension in decision making also the social and environmental consequences "Sustainable Development". A company’s stakeholders are all those who are influenced by and/or can influence a company’s decisions and actions, both locally and globally. These include (but are not limited to): employees, customers, suppliers, community organizations, subsidiaries and affiliates, joint venture partners, local neighbourhoods, investors, and shareholders (or a sole owner). In other word: CSR is about how companies manage the business processes to produce an overall positive impact on society.
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