Corporate Social Responsibility (CSR)

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Corporate Social Responsibility (CSR) refers to the responsibility of economy to a positive development in social matters, environment and sustainability. It has no clear definition yet, but in 2010 there has been the ISO standard developed.

CSR has developed from a voluntary individual self-regulation for private companies into a regulation that is demanded by local, regional and international authorities. ([1]). Nowadays, CSR can be seen as an integrated business concept.

There are two main approaches for putting CSR into practice:

  1. the normative approach
  2. the economically motivated approach

The former sees CSR as a necessity for companies to give back to society and nature. The latter refers to the intrinsical motivation of a company to use CSR as a tool for trust-building, marketing, reputation and customer satisfaction. Here, there is always the danger of Greenwashing.

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