BizSugar.com › Self-Development › Corporate Social Responsibility Definition

A corporation is not divorced from the community and society where it operates. Even multinationals must hire local workers for their operations. In recent times, the single most powerful motivation of corporations is profit! That is why, we've seen the rise of greed and the fall of such corporations as Enron and countless others in the past year or two.Corporations are assigned juridical personalities. They are even considered as 'citizens' in the countries where they operate. Every citizen, therefore, has to contribute to the well-being of the society to where it belongs. This is why the concept of corporate social responsibility or corporate citizenship has been accepted by major business organizations around the world.