Understanding the Impact of Internal and External Corporate Social Responsibility

Examining the Effects of CSR on Business and Society

Abstract

The term Corporate Social Responsibility has been gaininga lot of attention recently. Businesses today have higher expectations from thestakeholders than ever before. This concept has also attracted a lot ofattention from academia. We begin with explaining the concept of CorporateSocial Responsibility. Kotler, Lee (2005) define corporate socialresponsibility as, “corporate social responsibility is a commitment to improvecommunity well-being through discretionary business practices and contributionsof corporate resources.”