Corporate Social Responsibility Analysis

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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 …show more content…

‘with respect to the duty to help solve social problems, should that duty be taken on because by doing so profits may be increased, or because it is a moral responsibility to do so?’. He cites economist Robert Frank (1988): ‘you can’t adopt altruism as a strategy like “honesty is the best policy” and gain the advantages of altruism…For the model to work, satisfaction from doing the right thing must not be premised on the fact that material gains may later follow; rather it must be intrinsic to the act itself.’ Bowie contends that ‘my ideal business partner is someone who doesn’t merely adopt altruism because it pays but adopts it because he or she is committed to it. She or he is not an opportunist because opportunism is wrong.’ Therefore, he says, ‘it is in the interest of business to adopt an extended view of CSR that includes a duty to help solve social problems. A business adopts that duty because it thinks it will benefit, its actions will be viewed clinically. Moreover, because an improved labour force is a public good for business, the only real reason for an individual firm to help social is altruism. Thus, employees and other corporate stakeholder’s have a good reason to believe that corporate attempts to solve social problem or …show more content…

The CED was initiated in 1942 to address national priorities that promote sustained economic growth and development to benefit all Americans. CED is a non-profit, non-partisan, business-led public policy organization .it conducts in-depth research on major economic and social issues , and provide suggestions on the implementation of its recommendations by the public and private sectors. Members include about 200 senior corporate executives and university leaders who provide the body important academic and practitioners’ view on research and outreach efforts to meet the changing socio-economic scenario. However, one should remember while complying with the framework that the report does not take into account the legal responsibilities and therefore precautions should be taken not to ignore the legal

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