Businesses are tasked with becoming corporate citizens through social outreach initiatives such as CSR and CSI.
Corporate social responsibility and corporate social investment are terms which have been used interchangeably in the past to describe a business’ role in becoming a good corporate citizen.
However, these terms are now used to describe separate acts of philanthropy dedicated to the corporate world.
What is corporate social responsibility?
CSR refers to an organisation’s total responsibility towards the business environment in which it operates. CSR describes the broader solution to the convergence of a company’s profit margin and community factors like people and the environment.
What is corporate social investment?
CSI includes projects that are external to the normal business activities of a company and are not directly related to increasing company profit. These projects have a strong developmental approach and utilise company resources to benefit and uplift communities and are not primarily driven as marketing initiatives.