Jeremy Moon (2004) defines CSR as a combination of corporate citizenship, sustainable business and environmental responsibility; it is accountable to social, environmental and ethical issues both in term of corporate and the national environment. The neo liberal writers see it as voluntary, but some neo liberal see CSR as an obstruction and diversion from a business primary concern, i.e., profit maximization, yet most neo liberal writers maintain the point of view that, Friedman was actually correct. CSR in the long run can be beneficial to the organizations it prevents from unnecessary government intervention and
Failure to retain the participation of a primary stakeholder group will result in the failure of that corporate system. The practice of CSR is subject to much debate and criticism. Proponents argue that there is a strong business case for CSR, in that corporations benefit in multiple ways by operating with a perspective broader and longer than their own immediate, short-term profits. Critics argue that CSR distracts from the fundamental economic role of businesses; others argue that it is nothing more than superficial window-dressing; still others argue that it is an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. Some of the positive outcomes that can arise when businesses adopt a policy of social
Corporate Social Responsibility Corporate Social Responsibility (CSR) is an activity that has gained momentum among companies, to improve their social image, especially in recent years. Corporate social responsibility has been defined by multiple studies. In this section, we provide a short summary and comparison of the most widely presented versions, followed by an overview of the situation of CSR in India. As defined by the United Nations Industrial Development Organization (UNIDO), CSR is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. The World Business Council for Sustainable Development (WBCSD) defines Corporate Social Responsibility
2.2 CORPORATE SOCIAL RESPONSIBILITY Corporate social responsibility (CSR) or CSR activity is seen as a complex and contested area, which is rapidly gaining importance from businesses all over the world (Vaaland & Heide, 2008). Mintzberg (1983), refers to Elbing (1970) when he states that the concept of social responsibility has been discussed academically by professors, pragmatically by businessmen, politically by public representative and approached from various angles philosophically, psychologically, sociologically, economically even aesthetically. The complexity of the concept has lead to variations of definitions some boarder than others with no consensus on a generally accepted definition. The difficulty with defining CSR sterns from
Social responsibility has been defined as a social norm. In this society, companies from the least to the greatest practice Corporate Social Responsibility (CSR). The management and staff of the corporations are expected to perform the right things as their misdeeds may be held accountable. Furthermore, the corporation is required to be responsible for their member‟s behavior. (Seitel, 2003) According to McWilliams, Siegel & Wright (2006), they claimed that although there are numerous definitions of CSR but the given definition is vague and unclear.
Definition of CSR and a description of what it is. Corporate Social Responsibility is a voluntary initiative taken by a company where they contribute to social, ethical , and environmental issues in society. Also known as “corporate citizenship”, CSR is a continuous commitment of a business to demonstrate ethical and economic activity that benefit the staff, the shareholders, the business, but most of all society. It is when a business takes of time money to make a difference in society. Whether it is to help a certain people or raise awareness for a cause, CSR is done in most businesses and it highly beneficial for the business in many ways.
There are numerous ways for companies to increase firm performance, but positioning their brand would create competitive advantage (Ref). Corporate social responsibility (CSR) is a ‘Hot’ topic as sustainability is the current business trend in our global market. 1.1Background Electrolux (History) (Background information; CSR initiatives) 1.2Problem
THE CORPORATE SOCIAL RESPONSIBILITY (CSR) MODEL The best-known CSR model is that of (Carroll, 1979:497-505), which proposes that the social responsibilities of a company are the economic, legal, ethical and philanthropic expectations formed by society. The main area of responsibility is economic, but at the same time the company must keep the law. Ethical responsibility refers to the obligation to behave fairly and honestly. The fourth area is when the entrepreneur conducts him/herself as a good citizen (figure below). The corporate social responsibility pyramid (own compilation based on United Nations Global Compact, 2015) The four responsibility layers together make up corporate social responsibility.
INTRODUCTION The need for established social responsibilities and ethical frameworks in business has become a main priority in our current society. This attitude is supported by the fact that the number of the most well-known global corporations integrating corporate social responsibility (CSR) programs into their business operations has never been greater. The prominence of CSR initiatives today hint that executives’ perceptions of such policies have shifted from an unnecessary addition to a critical business function. India is the first country in the world to mandate Corporate Social Responsibility (CSR) spending, through a statutory provision under the Companies Law 2013 and expects an annual spending of around INR 30,000 Cr by India Inc.
In order for the future study to be relevant, a view need to be taken on the previous studies conducted on managerial perspectives and on sustainable development in Africa. According to the study of “Ethical considerations of corporate social responsibility - A South African Perspective” (Ackers, 2015), it was conceptualised that CSR was to be representing the fit between the expectations of society and the real ethics of business. The two dimensions were derived from this fit: (i) Behavioural dimension - representing the fit between the expectations of society and the actions of business (company’s responses to social expectations). (ii) Attitudinal dimension – reflected the fit between the expectations of society and management perspective