Corporate Social Responsibility

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Corporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational corporations and the development of third world countries throughout the globe. The two concepts can work hand in hand to provide benefits for all; however difficulties in regulating and implementing corporate social responsibility need to be overcome before effective changes can be made. Definitions of corporate social responsibility can be somewhat varied depending on the perception and perspective an individual or group has towards the situation; the definition has also varied through time. In general terms, Manakkalathll & Rudolf (1995) define corporate social responsibility (CSR) as “the duty of organisations to conduct their business in a manner that respects the rights of individuals and promotes human welfare.” In contrast to this, Christian Aid (2004, as cited in Pendleton 2004) defines CSR as “an entirely voluntary, corporate driven initiative to promote self regulation as a substitute for regulation at either a national or international level.” Blowfield, 1995 indicates that through time, the definitions and explanations of CSR have become more positive, with increasing understanding of the benefits that can be obtained through successful implementation by organisations. Pendleton (2004) suggests that the first CSR initiatives were a response to public pressure and media exposes of poor company behaviour. The aim of CSR was to show these people that companies were capable of cleaning up their act. Pendleton (2004) suggests that “contemporary CSR was christened by Shell in it’s response to it’s annus horribilis of 1995.” Monshipouri, Welch & Kennedy (2003) also outline this issue as a key turni... ... middle of paper ... ...e real face of corporate social responsibility, Consumer Policy Review, vol.14, no.3, pp.77-82 Rodriguez, P., Siegel, D.S., Hillman, A. & Eden, L. (2006). Three lenses on multi-national enterprise: politics, corruption & corporate social responsibility. Journal of International Business Studies, vol.37, pp.733-746 Sachs, S., Maurer, M., Ruhli, E. & Hoffman, R (2006), Corporate social responsibility from a “stakeholder view” perspective: CSR implementation by a Swiss mobile telecommunication provider. Corporate Governence, vol. 6, no.4, pp.506-515 Waldman, D.A., Siegel, D.S. & Javidan, M. (2006). Components of CEO transformational leadership and corporate social responsibility. Journal of Management Studies, vol.43, no.8, pp.1703-1725 The Body Shop Values Report 2007. http://valuesreport.thebodyshop.net/index.asp?lvl1=0&lvl2=0&lvl3=0&lvl4=0 Viewed 10/09/07

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