In class we are learning about corporate social responsibility (or the lack of it in Enron's case). As this diagram shows, CSR is a form of corporate self-regulation included in the business model. CSR covers 3 main aspects; Social or community involvement, economic growth, and ecological / environmental action. It is of organisations best interest to embrace CSR practices, and for many reasons - one being customers will prefer you over competitors without CSR practices.
Working at Levi's has shown me first-hand the importance of corporate social responsibility. It's important to be a leader not just in the product/service being offered, but also in the impact made on the community. I value companies that go above and beyond to make a difference and "do what's right."
Managing Corporate Social Responsibility: A Communication Approach / Edition 1