Index IntroductionTypes of CSRImportance of CSRIntroductionCorporate social responsibility (CSR) is defined as the set of voluntary activities undertaken by a company to operate in an economically sustainable manner , social and environmental. The Government of Canada understands that responsible business behavior by Canadian companies operating internationally not only increases their chances of commercial success, but can also contribute to large-scale economic benefits for the countries in which they operate and for Canada. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Investing and operating responsibly also plays an important role in promoting Canadian values ​​internationally and contributes to the sustainable development of communities. The Government of Canada is therefore committed to promoting responsible business practices; and expects and encourages Canadian companies doing business internationally to comply with all applicable laws and international standards, to operate transparently and in consultation with host governments and local communities, and to conduct their businesses in a socially and environmentally friendly manner responsible. (Corporate Social Responsibility, 2018) Types of CSR There are four types of CSR depending on its beneficiaries: Environmentally focused Corporate Social Responsibility (CSR) This type of CSR focuses on reducing the harmful effects of the company's operations company on the environment. The company innovates in its production phase to reduce the production of environmentally harmful by-products. It also promotes the use of non-renewable energy sources to prevent damage caused to the environment by the burning of fossil fuels. Community-based corporate social responsibility (CSR) The company collaborates with other organizations (usually non-profit) to ensure the well-being of the people of a local community. These organizations fund or receive funding from companies to carry out tasks that can improve the living conditions of people in the community. Human Resources (HR)-based Corporate Social Responsibility (CSR) Companies focus on the well-being of their staff and improve their living conditions. Companies can extend compassionate leave such as paternity leave for the employee to care for his or her newborn. They can also provide medical insurance to their employees to take care of accidents caused by occupational hazards. Charity-Based Corporate Social Responsibility (CSR) In charity-based CSR, companies donate to organizations or individuals (usually through a charitable partner) to improve their financial condition and for their general betterment. This is the most common form of CSR activity. Most companies provide direct financial support to organizations or individuals who request such assistance. Importance of Corporate Social ResponsibilityThe benefits and advantages that companies that adopt corporate social responsibility initiatives can obtain: (Campbell, 2007)TO COMPANIESIncreased employee loyalty and retention.Obtaining legitimacy and access to markets.Less litigation.Increased the quality of products and services. Strengthening public image and increasing brand value. Less stock market volatility. Avoiding government regulations. Greater customer loyalty customers.TO SOCIETYImproving quality of life and changing habits.Developing skills creates wealth and employment.ENVIRONMENTKeep in mind: This is just an example. Get a custom paper from our expert writers now.., 2018)