How is "corporate social responsibility" (CSR) best defined?

Corporate social responsibility (CSR) is best defined as a model for business accountability to stakeholders and the public. This concept emphasizes that companies should act ethically and consider the broader social, environmental, and economic impacts of their operations. CSR encourages businesses to go beyond mere compliance with legal requirements and to take proactive steps to benefit society.

By engaging in CSR practices, businesses can build trust and strengthen their relationships with stakeholders, including customers, employees, investors, and the community at large. This not only enhances the company's reputation but also contributes to long-term sustainability and success. Businesses that prioritize CSR are often seen as more responsible and humane, which can positively affect brand loyalty and customer retention. The focus is not solely on profits, but rather on creating a positive impact and being accountable to the public's interests.

In contrast, the other options focus on internal business processes or objectives that don't encapsulate the holistic view of CSR. Monitoring employee performance, increasing market share, or reducing costs may be important business practices, but they do not encompass the broader stakeholder-centric approach that defines CSR.