Corporate social responsibility (CSR) means integration of environmental and social corporate responsibility in the company’s daily business.
Corporate social responsibility does not only mean that the company meets all the laws and regulations requirements. Company should look at its operations more broadly: if company’s action, for example, harmful to the environment or nearby residents, but not illegal, the company should make every effort to minimize the harmful effects. A responsible company therefore also takes into account aspects, so if they are being neglected does not lead to legal responsibility or bankruptcy.
An effective CSR is, therefore, extending company’s responsibility beyond the laws and regulations require and at the same time be prepared for the future tightening laws, standards and customer requirements, so in practice, for the risks to business. In other words, CSR is a daily operation in the company’s strategic planning, which responds to future risks and opportunities. After all, for example, tightening environmental standards are risk in terms of increasing costs, but for the company, which knew to prepare for them, it is a possibility in cost or market leadership in the future.