CSR is a management concept where
companies integrate social and environment concerns in their business
operations and thereby achieve a balance of economic, environmental
and social imperatives, while at the same time address the
requirements and expectations of shareholders and stakeholders.
CSR initiatives can lead to innovation
through use of social, environmental or sustainability drivers to
create new ways of working, new products, services, processes and new
market space (Little 2006), which has led many companies to
redefining their business models e.g. Nokia’s Recycle My Cell
program.
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