Executive Summary: The Evolution Of Corporate Social Responsibility

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EXECUTIVE SUMMARY This term paper deals with the evolution of corporate social responsibility. Corporate Social Responsibility (CSR) is a topic which has much interest within the managerial world. CSR refers to “firm’s consideration and response to, issues beyond economical, legal and technical requirements of the firm to accomplish legal and social benefits along with economic gain which firm seeks”. Its goal will be to attain sustainable development. Sustainable development means equal development in social, economic and environment. All corporates are profit motive and so their CSR activities will be also in a way to achieve it. The framework of CSR and relationships between CSR and customers, NGOs are all explained below. There are lot…show more content…
For ensuring a secure and safer mode of living and to irradiate poverty, it is necessary to have a steady economic progress. The benefit of this progress should reach all sectors of all countries. Corporate Social Responsibility (CSR) is now an important part in the global business strategy in which companies operate in a social friendly way where ever they do business. Corporate Social Responsibility also called as corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible business aims to embrace responsibility for the company’s action and encourage a positive impact through its activities on the environment, employees, consumers, communities, stakeholders and all other members of the public who may also considered as stakeholders. CSR initiatives are classified into two, actions within the firm and actions outside the firm. Action within the firm includes changing labour relationships and changing production methods to reduce environmental impact. Action outside the firm includes developing philanthropic community initiatives and making infrastructure investments in local communities. Now a days it is considered that the reputation of the company and thereby stockholders wealth maximization depends on CSR. Organizations usually take social responsibilities according to the willingness of consumers. For example consumers buy products of companies which supports charitable…show more content…
Instrumental motives is self-interest driven. Relational motives concerned with relationships among group members. Moral motives are concerned with ethical standards and moral principles. At each level of analysis like (individual employee, organizational, national, and transnational) actors and interest groups pressures these firms for CSR. We can expand and refine multiple needs theory into two important ways. First we are looking at intentional actions taken by firm in the name of social responsibility and impact of these actions on employees. Second, the model is more expansive. We should always think beyond employees perceptions so we can theorize the needs and motives of top management, consumers, national governments, and transnational entities so that they can be encouraged for CSR initiatives. This model makes several contributions to CSR literature. CSR literature consists of (1) the field of organizational justice which resided exclusively in the micro organizational behaviour literature and organizational psychology literature, has much to offer CSR in considering the responsibilities of firms, how firms treat people, both externally and internally, affects a variety of actors, the degree of firms’ accountability. This analysis allows for a more socially centered CSR. (2) The organizational justice literature experiences a shift from
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