Social Responsibility Definition

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DEFINITIONS OF CORPORATE SOCIAL RESPONSIBILITY:
The world Business Council for Sustainable Development (WBCSD) defined Corporate Social Responsibility as “the continuing commitment of business to behave ethically for the well-being of society by contributing towards economic development while improving the quality of life of their workforce and their families as well as of the local community, and society at large”
Corporate social Responsibility can also be defined as “bringing corporate behavior up to a level where it is congruent with the prevailing social norms, values, and expectations of performance” (Sethi 1975).
Carroll (1979) proposed a popular definition of Corporate Social Responsibility consists of four-part, and he suggested
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Ethical duties overcome the limitations of legal duties. Philanthropic responsibility- “giving back” time and money to society in the form of voluntary service, helps the organizations to improve society.
Corporate Social Responsibility (CSR) is arguably the most central and established notion in modern business and social research (de Bakker, Groenenwegan, den Hond, 2005)3.
In addition, Corporate Social Responsibility (CSR) is a highly popular managerial tool with many companies having some form of Corporate Social Responsibility policy in place or making explicit Corporate Social Responsibility communication to public so that they will be aware about the company’s corporate social responsibility (Maignan and Ralston, 2002 )4.
A conceptual critique of CSR said that yet in spite of its detailed past and popularity in business and management practice, the problem is that the concept of Corporate Social Responsibility(CSR) is not clear, i.e. what CSR is, we don’t understand its causes and consequences, and what is desirable or required at the business- society interface
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It is all about the management of a companies impact on its stakeholders, the environment, and the community in which it operates. Its more than just a philanthropic activity for some charitable causes. It is about the integrity with which a company governs itself, how it fulfills its mission, the values it has, what it wants to stand for, and how it engages with transparency. Here, the corporations have to move beyond the financial bottom-line to the social and environmental
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