Essay On Globalization And CSR

Globalization and CSR: Widening the scope of responsibility internationally

Abstract
Corporate Social Responsibility as a concept emerged in the West but of late, it can be observed in almost all parts of the world. The expansion of this concept from a national to an international level can be attributed to the phenomenon of globalisation. With the local markets getting interlinked and same products being available worldwide, the contracts are drafted in such a way that they conform to international business standards, one of which is the concept of corporate social responsibility. This paper will try to address the following questions- What are the major changes that globalisation has brought in the concept of CSR? Does globalisation enhance the responsibility of the corporate industry? How have companies reacted to the global pressures? What is the main aim the firm, ‘maximising shareholder wealth or the ability to consider a broader range of stakeholders in its decision making’ ? How is the interaction between globalisation and CSR helping the world at large?

Introduction
In the foundational years of CSR, the intriguing question that

With the interlinking of the markets to form one larger international market, the responsibility of the corporate firms to take care of its stakeholders is not limited to its home country but extends to all those countries where it functions. But this has further unprecedented impacts on the countries and its people by helping them solve their regional issues relating to poverty, illiteracy, etc. These inherent qualities of CSR make the corporate social responsibility activists to strongly believe that the companies should make the world a better place to live in . With ample amount of resources and technology, these companies can bring about changes in the lives of the underprivileged people of developing countries that no government on its own