CORPORATE RESPONSIBILITY (CSR) TYPES

1.Philanthropic Responsibility:
• Philanthropic responsibility means serving humanity. This criterion pays attention to the
well-being of the unprivileged or needy people who badly require our support to sustain
themselves on this planet. Companies fulfill their philanthropic responsibility by donating
their time, money, or resources to charities and organizations at national or international
levels.
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2.Ethical Responsibility:
• Ethical responsibility is about looking after the
welfare of the employees by ensuring fair labor
practices for the employees and also the
employees of their suppliers. Ethical labour
practices for suppliers mean that the companies
will ensure the use of products that have been
certified as meeting fair trade standards.
3.Economic Responsibility:

• A corporation has to meet its economic

responsibilities in terms of reasonable return to
investors, fair compensation to employees, goods
at fair prices to customers, etc
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4.Environmental Responsibility:
• Companies are bound to fulfill their economic
responsibility because awareness of environmental
issues is growing largely among the consumers and
today they want businesses to take necessary steps
to save our planet and preserve all the lives in it.
5. Legal Responsibility:
• The legal responsibility of business corporations
demands that businesses abide by the law of land
and play by the rule of the game. Laws are the
codification of do’s and don’ts do’s in the society.