Social Responsibility is about recognising and addressing the needs of all groups which are affected by the activities of an organisation (not just customers and shareholders). Importantly, it is not only about complying with existing legislative requirements but adopting a voluntary approach to meet the needs of different stakeholders.
This website defines social responsibility as a commitment by organisations to integrate socially responsible principles and concerns of stakeholders in their operations in a manner that fulfils and exceeds current legal and commercial expectations.
There are many different definitions of Sustainable Development and Corporate Social Responsibility (CSR). The two definitions below are amongst the most prominent ones
‘Sustainable development is meeting the needs of the present without compromising the ability of future generations to meet their own needs.’ (The Brundtland Report ,1987).
Corporate Social Responsibility is the business community's
response to the sustainable development agenda.