Corporate Social Responsibility, referring to business practices that benefit society and the environment beyond profit-making.
Acronym formed in the mid-20th century from 'Corporate Social Responsibility', as businesses began formally acknowledging duties to stakeholders beyond shareholders. The concept gained prominence in the 1960s during increased social activism.
CSR evolved from pure philanthropy to strategic business practice when companies realized that social responsibility could enhance brand value and employee retention. Some critics argue CSR can be 'greenwashing' - using social initiatives to mask harmful practices elsewhere.
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