Corporate social responsibility (CSR) refers to the self-regulation of international private businesses. Over the last decade, it has moved beyond its definition as voluntary corporate self-regulation to regularized compliance to mandatory schemes at regional, national and international levels. An important approach to CSR is corporate philanthropy, in the form of aid and monetary donation to nonprofit organizations and communities, in the areas of housing, health, education, social welfare, environment and arts. Another approach to CSR is the incorporation of CSR strategy directly into operations.