triple bottom line
Corporate social responsibility comprises an umbrella of responsibilities of an organization towards its community, stakeholders and shareholders.[24] Organizations who are socially responsible fulfill their triple bottom line obligations and dedicate efforts to minimize negative impact on stakeholders and shareholders.[24] According to "The Pyramid of Corporate Social Responsibility" by Archie B. Carroll, there are four steps of social responsibility. First, economic responsibility of an organization is to produce profit and maximize the growth of an organization. Second, legal responsibility of an organization is to be compliant with all the laws and regulations. Third, ethical responsibility of an organization to create and follow standards of right decision-making considering how it affects all the stakeholders. Fourth, philanthropic responsibility of an organization to help the community and stakeholders by "giving back".[24] The extent of fulfilling the four responsibilities defines the corporate citizenship of an organization.[24]