Search results
social responsibility, especially in the case where a firm’s ethical and money-making activities are inseparable (Hart & Zingales, 2017). Regardless of whether firms should engage in CSR, they are increasingly doing so. Fortune 500 firms spend approximately $15 to $20 billion a year on CSR (Meier & Cassar, 2018).
- 805KB
- 57
1.2.1 Historical Evolution of Social Responsibility. Religious philosophies dominated philanthropy during the eighteenth and the nineteenth century. During 1800s and 1900s, to protect and retain the employees, companies took steps to improve their quality of life. E.g., Macy’s in USA in 1875 contributed to an orphanage.
Corporate Social Responsibility refers to ensuring the success of the business by inclusion of social and environmental considerations into a company’s operations. It means satisfying your shareholders’ and customers’ demands while also managing the expectation of other stakeholders such as employeessuppliers and the community at large.
- Fernando Porta
• Define social responsibility • Explain the relationship/link between social responsibility and triple bottom line. • Suggest ways in which a business project can contribute towards the community, e.g. charitable contributions to NGO's, involvement in community education, employment, employee volunteer programmes, etc.
- 262KB
- 10
Corporate Social Responsibility refers to ensuring the success of the business by inclusion of social and environmental considerations into a company’s operations. It means satisfying your shareholders’ and customers’ demands while also managing the expectation of other stakeholders such as employeessuppliers and the community at large.
Since the 2000s, CSR has grown increasingly strategic, and a broader concept of sustainability has gained ground. Public pressure to address negative corporate externalities, and pressing social, economic, and environmental issues has driven the evolution of these practices.
The political principle that underlies the political mechanism is conformity. The individ-ual must serve a more general social interest—whether that be determined by a church or a dictator or a majority. The individual may have a vote and say in what is to be done, but if he is overruled, he must conform.
