How is "corporate social responsibility" best defined?

Corporate social responsibility (CSR) is best defined as a business model that helps a company be socially accountable to itself and the public. This definition captures the essence of CSR, which emphasizes a company's commitment to conducting its operations in an ethical manner, considering the welfare of its stakeholders, including employees, customers, and the community.

Through CSR initiatives, companies strive to have a positive impact on society by engaging in practices that contribute to sustainable development, such as reducing their environmental footprint, promoting fair trade, and supporting local communities. This approach enhances their reputation and fosters loyalty among consumers who value socially responsible business practices.

In contrast, while profit motive and shareholder returns are important aspects of a business, CSR transcends these narrow goals by integrating social and environmental considerations into the core strategy of the organization. Being socially accountable is not merely about compliance with regulations; it involves a proactive approach to understanding and addressing the broader impacts of business operations.