What is the first level of the hierarchy of Corporate Social Responsibility?

The first level of the hierarchy of Corporate Social Responsibility (CSR) is the economic responsibility. Economic responsibility pertains to the fundamental obligation of a business to be profitable and to produce goods and services that society needs. At this foundational level, companies are expected to generate economic value for their shareholders and contribute to the economic well-being of the communities in which they operate.

This level forms the base upon which the other responsibilities are built. A company's primary purpose is to create profit, but this should be done while also considering and balancing further responsibilities. The economic foundation supports the ethical, legal, and philanthropic responsibilities that follow, making it essential for a business's sustainability. Companies that fail to meet their economic responsibilities may find it challenging to engage effectively in subsequent levels of CSR, such as legal obligations, ethical standards, and philanthropic activities.