CSR Full Form

What is the Full form of CSR?

What does CSR mean? This page is all about CSR full form or abbreviation in different fields including Business, News & Entertainment, Job Title, Medical, Governmental, and Indian Railway Station.

We have covered the CSR full form in Business with details and listed down meanings of CSR in various other categories.

The full form of CSR is Corporate Social Responsibility.

CSR generally stands for Corporate Social Responsibility. CSR is instituted for contributing back to society by actively participating in philanthropic, charitable, and other social-friendly activities.

CSR may be a very positive social and value-providing practice within the world of the company. Now, most of the companies are taking a lively part in CSR to create an honest name for their company which is positive for both company and society as well.

Objective of CSR

The main objective of CSR is to reinforce the worth of the corporate and also helps society in a very specific way. CSR practice is giving back to society what the businesses are becoming from the society.

CSR inspires companies to require part in philanthropic schemes, opening schools and colleges, opening hospitals for society. Companies may help society by helping in economical, ethical growth of the society by planting trees distributing books, and a lot  more other practices. CSR is important for the positive growth of the corporate.

Types of CSR:

1. Philanthropic CSR: When companies do charity for the people which help society in the educational, medical, and fields which changes society for good then this type of CSR is known as Philanthropic CSR.
2. Economic CSR: When big companies help small companies and provide people jobs and start-ups the capital which they need to run the business successfully then this type of CSR is known as economic CSR.
3. Environmental CSR: Those types are CSRs covered under Environmental CSR when companies help the environment by planting trees, reducing carbon footprints, reducing smoke. This is one of the best types of CSR which helps our mother nature.
4. Ethical CSR: This type of CSR company makes sure that every stakeholder of the company is being treated well and getting the return of the value the area providing to the company. This will ensure that employees can take leave whenever they need to, they will get wages on time, and they will get promoted on the basis of their performance and experience.

Benefits of CSR:

• CSR provides the corporate a positive name and recognition because when they do charity people know about them and beneficiaries bless them.
• When they take part in social activities and giving back to society what they get so it increases the reputation of the company.
• CSR strengthens the trust of the customer for the corporate and makes them loyal.
• CSR makes the company famous and this strengthens the bond between the people and the company. So, they trust the company and become a loyal customer of the company.
• After a successful operation of CSR more talented people are attracted towards the corporate and this improvises the performance, standard , and value of the corporate.
• The company sees exponential growth after a successful CSR and gets the chance to grab the capital.

Examples for CSR:

1. Johnson and Johnson: Johnson and Johnson is a big company that works in research and development. Johnson and Johnson are taking a great part in CSR initiatives. Johnson and Johnson are providing safe and pure water to the various societies of the word. Johnson and Johnson are working to cut back pollution and during this coronavirus pandemic they made a vaccine named JANSSEN.
2. Google: As we all know google is one of the most valued companies. We cannot imagine our worlds without google. Google understands people’s needs and has many initiatives for the betterment of society and also the environment. Google has topped the list with the best CSR score by RI.
3. TOMs: TMOs is a shoe company situated in California. TOMs is looking to donate every pair of shoes for each pair they sell. That’s why maybe TOMs isn’t that beneficial but fundamentally it’s strongest roots. They also add developing companies to assist the little company to grow and supply them safe water and food.
4. Disney: Disney is that the most famous and profitable cinema company within the industry. Disney donates lots and helps society in many ways. They open hospitals for the children and are providing food, water, and basic necessary things to the communities of Africa.

Criticism of CSR

Law professor Joel Baken has said that the real practice of CSR is against the law. He wrote that companies make CSR a tool to avoid taxes and make wealth. Some critics say that CSR could be a tool that a company uses to form people divert from asking questions about exploitation and wages.

While some researchers support CSR by saying that CSR practicing companies are less likely to use the people. Some claim that they could or not might help society but if they’re willing to practice CSR, we should always welcome them. Most of the funding for the research lies under the CSR program. Companies help lakhs of scholars and funds thousands of researchers under the practice of CSR.

So, by seeing the positive and negative criticism of CSR we can say that maybe some companies use CSR to avoid taxes and earn the reputation and brand name for the company. But it benefits the society many poor people from Africa and other places have been helped by CSR and many kids who come from the rural and poor background they get good education and funds from the companies practicing CSR.

CSR should be transparent and should help the deserved ones. We may say that there is nothing wrong with the practice of CSR in the world of capitalism.

All Full Forms of CSR:

Similar Abbreviations & Terms

• KSR : Kendall Square Research
• FSR : Full Service Restaurant
• SCSR : Social Case Study Report
• CAR : Capital Adequacy Ratio
• CSN : Companhia Siderurgica Nacional