The researcher will use a wide range of secondary research sources to plan and support the project and its findings. This literature review has included various sources, such as journal articles, newspapers and websites which are reliable, valid and trustworthy sources for this subject area.
There is a multitude of definitions of Corporate Social Responsibility (CSR). According to Business for Social Responsibility, ‘CSR is defined as achieving commercial success in ways that honor values and respect people, communities and the natural environment.’ Alternatively, CSR has been described as ‘an action by a firm, which the firm chooses to take, that substantially affects an identifiable social stakeholder’s welfare.’ Osie-Kwame, S (July
…show more content…
It is about conducting business operations ethically and responsibly. CSR can be used positively to help increase productivity and profitability. CSR has also been defined as taking a responsible attitude, going beyond the minimum legal requirements and following principles that apply whatever size the business is. nibusinessinfo.co.uk (2017). In summary, no matter how Corporate Social Responsibility is defined, it goes beyond just following the legal requirements and giving back to key stakeholders and society.
CSR isn’t a recent subject as it has been a progressing topic since the 1950’s, which has grown in importance and impact. There is some evidence where businesses hundreds of years ago were seeking to improve society, the community or particular stakeholder groups. This topic has grown in importance since the 1950’s and consumers nowadays are highly tuned into sustainable operations of businesses.
Multitudes of definitions of Corporate Social responsibility have arisen however the early definitions of CSR were relatively general. In the early 1960’s, CSR was defined as “seriously considering the impact of the company’s actions on society.” Another early definition of CSR by Davis in 1975 reads as follows, “social responsibility is the obligation of decision makers to take actions which protect and improve the welfare of society along with their own
Corporate Social Responsibility (CSR) is defined as the voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner.
Corporations are encouraged to conduct their activities in an ethically responsible manner, however neither the corporate world nor academia has produced a single – all encompassing definition of corporate social responsibility (CSR). The basic problem is that there are too many self-serving definitions that often lean toward the specific interests of the entities involved (Van Marrewijk, 2003). There has even been a quantitative study conducted on the many definitions of the term (Dahlsrud, 2006).
CSR is all about businesses understanding the effects that they have on the community/wider world. Businesses will use this impact in a positive way to
Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society (2). CSR may also be referred to as "corporate citizenship" and can involve incurring short-term cost that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change(1).
Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.
Corporate social responsibility (CSR) is the ethical behaviour of a company towards society it operates in. It is a commitment to the concern to the society’s sustainability & development.
In the broadest sense, CSR can be considered, “corporative initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups” (Anonymous, 2014). Another interesting fact that Investopedia included in their definition, that “CSR may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change”(Anonymous, 2014). However you want to determine the definition of CSR for yourself, it is a step that many businesses have incorporated into their current vision statements, and it has almost become a necessity into today’s
Corporate Social Responsibility (CSR, also called corporate responsibility, corporate citizenship and responsible business) is a concept whereby organizations consider the interests of society by taking
CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.
Snider, Hill and Martin. (2003) stated that “ CSR may be defined in general terms as "the obligation of the firm to use its resources in ways to benefit society, through committed participation as a member of society, taking into account the society at large and improving welfare of society at large independent of direct gains of the company" (as cited in Kok et al., 2001, p. 288). Since the growth of the corporations depend on the societal factors, corporations should be responsible for the society for the corporation’s own benefit in the long run. “The Corporate Social Responsibility (CSR) construct describes the relationship between business and the larger society” (Snider et al., 2003). According to The Wall Street Journal (2013),
First, what is CSR? CSR is corporate social responsibility, which “refers to business practices involving initiatives that benefit society. A business 's CSR can encompass a wide variety of tactics, from giving away a portion of a company 's proceeds to charity, to implementing "greener" business operations” (Sammi Caramela). “Corporate social responsibility is a corporation’s initiative to assess and take responsibility for the company’s effects on environmental and social wellbeing. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups” (Corporate Social Responsibility).
Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society (Businessnewsdailycom, 2016). CSR may also be referred to as "corporate citizenship" and can involve incurring short-term cost that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change (Root, 2007).
There are now several concepts of CSR and its definition, along with the meaning across corporations. In my opinion, and according with our textbook in page 11. CSR is about a particular set of business and strategies that deal with social issues. In addition, we can clearly perceive that CSRs application along corporations has increase in the past decade due to the several local, and international regulations in order to enforce business to act responsible.
It is generally recognized that the concept on CSR emerged in the 1920s and was developed by Oliver Sheldon (1924). In Oliver’s book, The Philosophy of Management, firms should meet internal and external needs while produce goods to make profits. As a measure of corporate social responsibility, community interests are far more important than corporate profits. It is the first time, corporate social responsibility links to corporate duty of fulfilling internal and external needs. This laid the theoretical foundation for the following studies. Howard R. Bowen (1953) was one of the first authors who attempted to define CSR. He summarised CSR in his book, Social Responsibilities of the Businessman, as: “the obligations of businessmen to pursue those policies, to make those
What is corporate social responsibility? It 's also known as social responsibility. Corporate social responsibility (CSR) is when a company or an organization striking a balance between profitability and our contributions to the communities in which they operate and being obligated to meet the expectations of stakeholders, who are the sources of the legitimacy of the organization. The stakeholders include the owners, investors, employees, customers, government, suppliers, competitors and the community.