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Running head: CORPORATE SOCIAL RESPONSIBILITY1Corporate Social ResponsibilityVs. Corporate Citizenship
CORPORATE SOCIAL RESPONSIBILITY2Corporate Social ResponsibilityVs. Corporate CitizenshipThere are two similar terms that have evolved in the business world: Corporate Social Responsibility (CSR) and Corporate Citizenship (CC). The differences between the two can be somewhat illusive and they are sometimes used interchangeably leading one to believe that they are the same. This thread will discuss the differences between CSR and CC in an attempt to bringclarity to the perception of each.DefinitionsInvestopedia (2015a) defines CC as “The extent to which businesses are socially responsible for meeting legal, ethical and economic responsibilities placed on them by shareholders” with the goal of creating higher standards of living for the community they operatewithin while remaining profitable (para. 1). Its definition for CSR is similar: “Corporate initiative to assess and take responsibility for the company’s effects on the environment and impact on social welfare” with an effort to go beyond what is required by regulations and “may also be referred to as ‘corporate citizenship’” (Investopedia, 2015b, para. 1). These common definitions, among others, show no difference between the two.ExamplesStephen Bainbridge (2009), an expert in corporate law, sets CC apart from CSR by stating that it is what a corporation should not