Definitions of Corporate Social Responsibility

The Prince of Wales International Business Leaders Forum:

"CSR means open and transparent business practices that are based on ethical values and respect for employees, communities, and the environment. It is designed to deliver sustainable value to society at large, as well as to shareholders" (http://www.iblf.org/csr).

Business for Social Responsibility (BSR), U.S.-based global business organization:

CSR means "...operating a business enterprise in a manner that consistently meets or exceeds the ethical, legal, commercial, and public expectations society has of business" (http://www.bsr.org/).

Commission of the European Union:

"A concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment"

A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis

"Voluntary business initiatives, in the form of CSR practices, can play a key role in contributing to sustainable development while enhancing Europe's innovative potential and competitiveness" (Jobs and Growth Strategy)

World Commission on Environment and Development (1987, p. 43):

"sustainable development meets the needs of the present without compromising the ability of future generations to meet their own needs" and "CSR 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 of the local community and society at large" (WBCSD, 1999).

UN Global Compact (http://www.unglobalcompact.org):

"Through the power of collective action, the Global Compact seeks to advance responsible corporate citizenship so that business can be part of the solution to the challenges of globalization. In this way, the private sector - in partnership with other social actors - can help realize the Secretary-General's vision: a more sustainable and inclusive global economy".

Junior Chamber International - CSR -
"JCI believes that CSR is about what business can do - not about what business must do. It is about opportunities not about obligations or new rules."
(global congress October 2005 Vienna)

Grayson and Hodges: Corporate Social Responsibility or responsible entrepreneurship:

"businesses seeking to minimise their negative environmental and social impacts and to maximise their positive environmental and social impacts"

You will see many different terms used: eg also the Accountable or Stakeholder Corporation; a commitment to a triple bottom line which measures results in terms of People, Profit and Planet; or being a good Corporate Citizen. In essence, we are now talking about better business.