Table of ContentsIntroductionTypes of CSRImportance of CSRIntroductionCorporate social responsibility (CSR) is defined as the voluntary activities undertaken by a business to operate in an economically, socially and environmentally sustainable manner. The Government of Canada understands that responsible behavior by Canadian companies operating internationally not only improves their chances of commercial success, but can also contribute to broad 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 Should Not Be Banned”? Get the original essay Investing and operating responsibly also plays an important role in promoting Canadian values ​​internationally and contributing to the sustainable development of communities. The Government of Canada is therefore committed to promoting responsible business practices; and expects and encourages Canadian businesses operating internationally to comply with all applicable international laws and standards, operate transparently and in consultation with host governments and local communities, and conduct their business in a socially responsible manner and ecologically responsible. (Corporate Social Responsibility, 2018)Types of CSRThere are four types of CSR according to its beneficiaries:Environmentally-focused Corporate Social Responsibility (CSR)This type of CSR focuses on reducing the harmful effects of the company's operations on the environment. The company innovates in its manufacturing phase to reduce the production of by-products harmful to the environment. It also promotes the use of non-renewable energy sources to prevent damage to the environment caused by the burning of fossil fuels. Community Corporate Social Responsibility (CSR) The company partners with other organizations (usually non-profit) to ensure the well-being of people in a local community. These organizations fund or receive funds from businesses 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 own staff and improve their living conditions. Companies can extend compassionate leave, such as paternity leave, so that the employee can care for their newborn. They can also provide medical insurance to their employees to take care of accidents caused by occupational hazards. Charitable Corporate Social Responsibility (CSR) In charitable CSR, businesses make donations to organizations or individuals (usually through a charitable partner) to improve their financial situation 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 need such assistance. Importance of CSRThe benefits and advantages that companies adopting corporate social responsibility initiatives can achieve include the following (Campbell, 2007) FOR BUSINESSES Increased employee loyalty and retention. Gain legitimacy and access to markets. Fewer disputes Increased quality of products and services. Strengthened public image and improved brand value. Less volatile stock market. Avoiding state regulations. Increased customer loyalty customers.TO SOCIETYImproved quality of life and change in habits.The., 2018)