Corporate social responsibility is an initiative to assess and take responsibility for the company’s effects on the environment and impact on social welfare. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups.
It can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change.
It covers a broad spectrum of activities; the management of relations with employees, customers, suppliers and the community as well as the management of performance in respect of the environment, human rights and diversity, and community responsibilities all underpinned by adherence to good business ethics.
The relationship with the organisations people, customers, suppliers and the environment should all be covered by individual policies as appropriate.