Corporate responsibility is a kind of corporate self-regulation built-into a business style. It’s policy functions as a self-regulatory mechanism whereby a business monitors and guarantees its active compliance with the spirit of what the law states, ethical standards in addition to international norms. Corporate responsibility can also be referred to since “corporate citizenship” and may involve incurring short-term costs that not provide a direct financial benefit on the company, but alternatively promote positive interpersonal and environmental adjust.
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