# CSR - Corporate Social Responsibility

### Key information

Corporate Social Responsibility (CSR) is a management concept whereby companies are socially accountable to themselves and their stakeholders. Through integrating social and environmental concerns into their operations and stakeholder interactions firms a company can achieve balance socially, environmentally, and economically.

<figure><img src="/files/I14SYhn49LU6ysh9JJvW" alt=""><figcaption><p>Source: UNIDO</p></figcaption></figure>

There is an accounting framework that considers these three key factors which is called 'the triple bottom line'. The three areas are often referred to as The Three P's; People, Profit and Planet.

<figure><img src="/files/zwcdx7tcbY9uH0On0jR8" alt=""><figcaption><p>Source: TechTarget</p></figcaption></figure>

#### Some examples of CSR in practice

* **TOMS shoes -** Founded upon the social mission that for every pair of shoes sold, one pair would be given to a child in need of shoes.
* **Starbucks -** In its hiring procedures Starbucks strives for equality and diversity, hiring veterans and refugees, and maintaining 100% pay equity across men and women and people of all races for performing similar work.
* **Salesforce -** Champions a 1-1-1 philanthropic model, this means giving 1% of product, 1% of equity, and 1% of employee time to communities and the non-profit sector. Interlinking success of the company with positive impact.

{% hint style="success" %}
**Quick activity:** Think of a job that you have done, what is a way that CSR practices could be applied to the work or company?
{% endhint %}

### Our favourite video

{% embed url="<https://www.youtube.com/watch?ab_channel=ServierInternational&v=1bpf_sHebLI>" %}

### If you want more

{% embed url="<https://www.investopedia.com/terms/c/corp-social-responsibility.asp>" %}

{% embed url="<https://online.hbs.edu/blog/post/types-of-corporate-social-responsibility>" %}

{% embed url="<https://online.hbs.edu/blog/post/what-is-the-triple-bottom-line>" %}


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