The concept of corporate social responsibility The modern sources of corporate social responsibility (CSR) reach back to the 1960s. According to Davis (1973, p.312), the concept of is “the firm’s considerations and response to issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social (and environmental) benefits along with the traditional economic gains which the firm seeks”. Moreover, Carroll (1979) defines that CSR includes four dimensions namely economic
society, CSR has become a very important concept which attracts worldwide attention. Nowadays, there are more than 90% of the Fortune 500 companies have clear and plan in detailed CSR initiatives. (Kotler & Lee, 2005). And in international companies today, CSR is even seen as strategy to gain competitive advantages and a long term key to success. According to the CSR report by Reputation Institute (2016), large companies have shown their strong attention and disclosed substantial investments in CSR initiatives
hypothesis. 1.8 Research methodology. 1.9 Scope. 1.10 Limitation 1.11 Scheme of the report 1.1– INTRODUCTION: Corporate Social Responsibility is a type of corporate self-regulation integrated into a business model. It is also called as corporate conscience, citizenship, social performance, or sustainable responsible business. Corporate Social Responsibility (CSR) policy functions as a built-in, self regulating mechanism whereby business monitors and ensures its active compliance with
a part of doing business” (Freeman et al 2004). • This is a simple proposition that CSR is an implicit division of business ethics. • This context simply defines social responsibility as a mere recognition of corporate duties and the implied relationship that exists between businesses and the external environment that set in motion its performance and existence. Business ethics Definition: Business Ethics constitutes principles, values, and standards that channel behavior in today’s business
represented in CSR discourse. However, this decade ‘marked a significant growth in attempts to formalize, or more accurately, state what CSR means’ (Carroll, 1999). According to Carroll, “CSR encompasses the economic, legal, ethical and discretionary (philanthropic) expectations that society has of organizations at a given point in time.” Some of the most prominent writers during that time were Keith Davis, Joseph W McGuire, William C Frederick and Clarence C Walton. Frederick wrote that ‘Social responsibility
Title Introduction Statement of the problems (include definition of CSR, ownership structures) Under different ownership structures, whether there is relationship between financial performance and corporate social responsibility and whether there is difference? 2.If we find a difference under different ownership structures, this may be due to Agency problem? (Reasons behind) Agency Theory Agency theory is concern about the relationship between principal and agent. It describes the conflict
Nahid (MA49/24437) 1 Section A A1) CSR Social responsibility is the duty of an organization for the impacts of its decisions and activities on society and the environment, ethical behavior that contributes to sustainable development in the society which includes Health and welfare activities. Moreover, it includes behaviors that Follows applicable law and consistent with international standards of behavior, and Is integrated throughout the organization and practiced. CSR is about contributing sustainable
The Impact of Corporate Social Responsibility on Firm’s Financial Performance An Introduction & Background -By Wajahat Ali Anwar PAF KIET 1.1 Introduction & Background of the Study Just a few years ago, the term ‘Corporate Social Responsibility ’had much lesser significance to many organizations. The Corporate Social Responsibility was viewed as an unnecessary expense and lacked its values within the corporate world. The term Corporate Social Responsibility or CSR, gained an important position
the area of corporate social responsibility (CSR) has developed aggressively in the last decade and is gradually becoming universal. Companies are now expected to put into account all aspects of their performance including social, environmental performance and financial results. Thus, more organizations are now engaged in serious efforts to define and conform CSR into all aspects of their businesses.[ Ahmad NN, Rahim NLA. “Awareness of the concept of corporate social responsibility among Malaysian
Social responsibility or corporate social responsibility (CSR) is a form of corporate self-regulation that is integrated into a business model. The CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures it is actively in compliance with the spirit of the law, ethical standards and national or international norms. With some CSR models, a firm's implementation of CSR goes beyond compliance and engages in actions that appear to further some social good, beyond the