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Corporate Social Responsibility (CSR) is the alignment of business operations with social values. CSR consists of integrating the interests of stakeholders - all those affected by a company's conduct - into the company's business policies and actions. CSR focuses on the social, environmental, and financial success of a company - the so-called triple bottom line - with the goal being to positively impact society while achieving business success.

In the past, a company's merit was solely based on its financial performance. As we move into the new millennium, there is increased pressure from investors, consumers, and employees to consider social and environmental criteria in the way a company carries out its business. This has created momentum for using a "triple bottom line" or "sustainable" approach - social, environmental, and financial data for evaluating the performance of a company. Increasingly, stakeholders are concerned that the company they support has business practices that positively impact society while achieving financial success. Corporate Social Responsibility embraces two main concepts - accountability and transparency.

Today, financial success is no longer the sole measure by which corporations are judged by their stakeholders, primarily investors, consumers, employees, and communities in which they operate. Companies are now expected to perform well in non-financial arenas such as human rights, business ethics, environmental policies, corporate contributions, community development, corporate governance, and workplace issues. Social and environmental performances are considered side by side with financial performance. From local economic development concerns to international human rights policies, companies are being held accountable for their actions and their impact.

Companies are also expected to be more transparent in disclosing and communicating their policies and practices as these impact employees, communities, and the environment. In the new global economy, companies that are responsive to the demands of all of their stakeholders are arguably better positioned to achieve long-term financial success. It is no longer optional for a company to communicate its environmental and social impacts; such information is demanded by stakeholders, regulators, and NGO's in an information-driven economy, and improved communication has become critical for sustainable business growth.

Many companies are making significant efforts to decrease their environmental footprint and better serve their various stakeholder constituencies. Investors, consumers, and employees are more sophisticated than ever before. While they understand that every company can do more to be more socially and environmentally accountable, they are rewarding companies who are making strides to improve their performance in these areas.

CSR can involve almost any aspect of a company's operations. Every company has a story to tell that sets it apart. It is important for every company to find its story and to tell it. A company that is considered a good corporate citizen is one that demonstrates a commitment to its stakeholders through socially responsible business practices and transparent operations.

Corporate Social Responsibility Newswire Service (
(http://www.csrwire.com/ )