"Corporate social responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.”
– As defined by the World Business Council for Sustainable Developement.

Put simply – Corporate Social Responsibility is really about the responsible management of your business resources.

Corporate Social Responsibility (CSR) is an acknowledgement by an organisation that it has an obligation to consider the interests of customers, employees, shareholders communities and the environment in all aspects of its operation. This obligation is seen to extend beyond its statutory obligation to comply with legislation.

CSR is closely linked with the principles of sustainability which supports the view that businesses should make decisions based not only on financial factors such as profits or dividends, but also based on the immediate and long-term social and environmental consequences of its activities. This has become known as the Triple Bottom Line.
The definition of CSR used within an organisation can vary from a basic ‘stakeholder impact’ definition, to one that often includes charitable efforts and volunteering. Responsibility for ensuring adherence to CSR may be based within the human resources, business development or PR departments of an organisation, or may be given a distinct unit reporting to the CEO or the Board.

Some companies choose to demonstrate good business citizenship by reporting compliance with a number of CSR standards, including AccountAbility AA1000 based on John Elkington's triple bottom line (TBL or 3BL) reporting or the ISO 14000 environmental management standard. Click here for more information about this standard. Others may choose to focus on specific issues, such as human rights, through Social Accountability International's SA8000 standard whilst many companies simply implement CSR-type values without clearly defining a team or programme.

There is a strong business case for embracing Corporate Responsibility, as it is increasingly referred to, with businesses justifying their commitment to the practice, particularly, because of the following measurable benefits to their organisation.

• Recruitment and retention of staff Having an identifiable CSR programme is often seen as an aid to recruitment and retention - particularly within the highly competitive graduate student market. Potential recruits are increasingly likely to ask about a firm's CSR policy during an interview and having a comprehensive policy can give an advantage. CSR can also help to build a ‘feel good’ atmosphere among existing staff, particularly when they can become involved in supporting community organisations in some way.

• Brand differentiation In a crowded marketplace, companies need to identify their USP (unique selling point) which can separate them from the competition in the minds of customers. CSR can play a role in building customer loyalty based on distinctive ethical values and building a reputation for integrity and best practice.

If businesses are considering introducing the Triple Bottom Line as a way of measuring success, two particular books make good reading: ‘Cannibals with Forks’, by John Elkington and ‘The Triple Bottom Line – Does it all add up?’ Edited by Adrian Henriques and Julie Richardson.
It is widely acknowledged that John Elkington invented the term , Triple Bottom Line (TBL or 3BL), described in his book Cannibals with Forks and much of his work has been about how change can and should take place. Indeed the Triple Bottom Line has become one of the main rallying cries for businesses trying to address sustainability.

John Elkington builds on his initial work in one of the contributing chapters in The Triple Bottom Line – Does it all add up? The book presents the views of a number of key practitioners and academics in the field of Corporate Responsibility and assesses the sustainability of business and the CSR agenda.

Jonathan Porritt, another contributor to The Triple Bottom Line – Does it all add up? explores the role that the financial system and government will have to play in order to achieve sustainability. In addition to any monitoring or regulation that may be necessary, he points out that ‘government’ is also an organization in its own right and, as such, it must also report on and manage its own impacts.