Corporate Social Responsibility In Globalization
Globalization rapidly change the world on some area it will put positive effects such as accessibility of products in different markets and on some areas, there is negative impacts like impact of weather and control of resources by multinational companies. The factor I am going to discuss is Corporate Social Responsibility (CSR) that topic highlighted and gain reorganization in business and academic discussion. CSR may be defined as a "situation where the firm goes beyond compliance and engages in 'actions that appear to further some social good, beyond the interests of the firm and that which is required by law" (McWilliams et al., 2006). CSR refers to an organization's commitment to perform its business operations in an economically, socially, and environmentally sustainable way. According to Panapanaan et al. (2003), "CSR encompasses three dimensions--economic, environmental and social." …show more content…
It is also worth mentioning that many organizations within developing counties are also focusing on the importance and use of CSR in conducting their business operations. The Middle East is not lagging behind in the adoption of CSR practices in business organizations, particularly in the Gulf Co-operation Council (GCC) countries (e.g., UAE, Oman, Qatar, and Saudi Arabia). As the largest economy in the Arab world and the world's largest oil producer, Saudi Arabia, which is an active GCC member, has started paying attention and has begun to show greater commitment to instituting CSR guidelines and
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