Corporate social responsibility
(CSR).
Corporate governance.
A form of corporate self-regulation integrated into a business model.
Ideally, CSR policy is a built-in, self-regulating mechanism where the business or other organisation monitors and ensures its adherence to law, ethical standards, and international norms.
The organisation embraces responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. The organisation also proactively promotes the public interest by encouraging community growth and development, and voluntarily eliminating practices that harm the public sphere.
All this means both (1) adherence to existing laws and (2) going significantly better than the minimum standards required by law.
