Corporate social responsibility (CSR) is a management concept that describes how a company contributes to the well-being of communities and society through environmental and social measures. CSR is a form of self-regulation that can be expressed in initiatives or strategies, depending on an organizations goals. It is closely linked to sustainability, creating economic, social, and environmental value, and ESG, which stands for Environmental, Social, and Governance. By practicing CSR, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental. Engaging in CSR means that, in the ordinary course of business, a company is operating in ways that enhance society and the environment instead of contributing negatively to them.

CSR can involve a broad scope of approaches and initiatives, everything from sustainable practices to community involvement. CSR is often broken into four categories: environmental impacts, ethical responsibility, philanthropic endeavors, and financial responsibilities. Some examples of CSR initiatives include donations and sponsorships, operational initiatives, and transforming a companys entire business strategy or model.

CSR plays a crucial role in how brands are perceived by customers and their target audience. It may also help attract employees and investors who prioritize the CSR goals a company has identified. Consumers, employees, and stakeholders prioritize CSR when choosing a brand or company, and they hold corporations accountable for effecting social change with their beliefs, practices, and profits. To stand out among the competition, a company needs to prove to the public that it is a force for good. Advocating and raising awareness for socially important causes is an excellent way for a business to stay top-of-mind and increase brand value.