Corporate Social Responsibility

Corporate Social Responsibility

Corporate Social Responsibility (CSR) is an idea that has expanded over time so its meaning and definition is somewhat vague. Votaw (1973), as quoted by Carroll (1999), summarizes the difficulties of giving a definition of CSR when he notes that:

The term [social responsibility] is a brilliant one; it means something, but not always the same thing, to everybody. To some it conveys the idea of legal responsibility or liability; to others it means socially responsible behavior in an ethical sense; to still others, the meaning transmitted is that of “responsible for,” in others, the meaning transmitted is that of “responsible for,” in bution; some take it to mean socially conscious; many of those bution; some take it to mean socially conscious; many of those who embrace it most fervently see it as a mere synonym for “legitimacy,” in the context of “belonging” or being proper or valid; a few see it as a sort of fiduciary duty imposing higher standards of behavior on businessmen than on citizens at large. (para. 64)

However, in this paper we will use Ferrell, Fraedrich, and Ferrell’s explanation of CSR, which is “an organization’s obligation to maximize its positive impact on stakeholders and minimize its negative impact” (2013, p. 13). The fundamental relationship between business and society has intrigued individuals for a very long time. In fact, the concept of CSR can be traced back to Aristotle who claimed that business should reflect the society in which it operates (Solomon, 1999). According to Aristotle,

One has to think of oneself as a member of the larger community, the Polis, and strive to excel, to bring out what was best in ourselves and our shared enterprise. What is best in us our virt...

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