The precedent-setting commitment of Bill Gates, Target, Starbucks and other socially conscious corporations has brought responsible business to the forefront. In a down economy where profits are low and the need for charity is high, philanthropy can lead the way to not only support those most in need, but also create a trusted company reputation and a long-term increase in sales.
Corporate Social Responsibility (CSR) refers to operating business in a manner that is actively aware of the social and environmental impact created by the business. Where CSR may have originally focused on charity as a vehicle to improve company image, now it reflects a broader commitment to improve the lives of all from employees to global communities through ethical day-to-day business practices and social responsibility in all areas of operation.
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