difference between philanthropy and csr

Philanthropy and Corporate Social Responsibility (CSR) both involve giving back to society, but they differ in approach and scope. Philanthropy typically refers to charitable donations or activities by individuals or organizations aimed at addressing social causes or supporting community initiatives. It is often voluntary and not necessarily linked to business operations. In contrast, CSR is a broader concept where businesses integrate social, environmental, and ethical concerns into their operations and interactions with stakeholders. CSR is more strategic, aiming to align a company's business practices with societal welfare, while philanthropy is usually a one-time or ongoing charitable effort.