Understanding Corporate Social Responsibility (CSR) and the CSR Pyramid

Corporate Social Responsibility (CSR) is increasingly important in business, emphasizing that companies should not only focus on profit but also on social and environmental responsibilities. Archie Carroll's CSR pyramid outlines four layers: economic, legal, ethical, and philanthropic responsibilities. Businesses must first ensure profitability, adhere to laws, and act ethically before engaging in philanthropy. CSR is becoming essential for attracting customers and employees, but critics argue it can distract from economic goals. Evaluating CSR's necessity and effectiveness is crucial in today's business climate.

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