1.Corporate Social Responsibility is an initiative of a company, to take the responsibility of an environmental and social wellbeing in a place of their operation. Companies show their commitment by introducing ecological processes and eco-friendly technologies. It basically means maximizing the good and minimizing the bad effects your company on the environment. For example, by reducing the waste and air pollution by using modern filters. Other than that, they commit to social development in a way that they organise educational events, programs or even workshops for people outside corporate society.
2.Key areas:
Community Relations — Actions by HR team should include implementing reward programs, charitable contributions and encouraging community involvement and practices. Examples of these programs include sending emails and company newsletters to staff members that highlight employees and managers involved in community relations or creating monthly reward programs to recognise efforts by individuals within the company.
Training and Development — programs that explain the connection between the company’s core products or services and the society at large, their value to the local community and ways in which employees can get involved in appropriate CSR projects would sustain and direct these initiatives.
Legal — corporations must ensure that their business practices are legal. Obeying regulations helps protect consumers, who rely on a business to be truthful about the products it sells, and investors, who stand to lose profits if a company is penalized or shut down because of illegal practices.
Economic —A company's economic responsibilities include being profitable in order to provide a return on investment to owners and shareholders, to create jobs in their communities and to contribute useful products and services to society.
Ethical —Ethical