Business dictionary defines CSR as “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates.Companies express this citizenship
(1) Through their waste and pollution reduction processes,
(2) By contributing educational and social programs and
(3) By earning adequate returns on the employed resources.
Environmental Sustainability : Recycling, waste management, water management, renewable energy, reusable materials,reducing paper use and adopting Leadership in Energy and Environmental Design building standards.
Community Involvement : This can include raising money for local charities, providing volunteers, sponsoring local events, employing local workers, supporting local economic growth, engaging in fair trade practices.
Ethical Marketing : Companies that ethically market to consumers are placing a higher value on their customers and respecting them as people who are ends in themselves. They do not try to manipulate or falsely advertise to potential consumers.Social license exists outside formal regulatory processes. Social license can nevertheless be acquired through timely and effective communication, meaningful dialogue and ethical and responsible behavior.