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Corporate Social Responsibility: The Modern Integration of a Historic Idea

Corporate social responsibility (CSR) refers to the belief (and increasing demand) that businesses have an obligation to society beyond their commitments to shareholders or investors. In addition to generating profits, businesses are expected to have a responsibility to stakeholders such as employees, customers, communities, and the environment. As such, modern CSR demands the integration of shared value, i.e., a return on investment for both a business and the community it serves; and it requires corporations to be economically responsible, to improve labour practices, embrace fair trade, mitigate environmental damage, give back to the community, and increase employee satisfaction.