Corporate Social Responsibility (CSR) In an Organization

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As the industrialization and globalization have become more intense for decades, the concept of corporate social responsibility (CSR) becomes more advocated and is employed by corporation globally (Smith, 2011). However, despite an urge for performing “good” social roles, there still be numerous of organizations showing their unwillingness to fulfill their expected responsibility due to the controversy of how the concept should be defined amongst academia, businesses, and society, in addition to the conflict of interests between a firm’s shareholders and stakeholders that accounts mostly for difficulties in implementing CSR practices. Therefore, the purpose of this paper is to dig deeper into above problems by presenting the definition of CSR and the importance of its role in international business along with the difficulties arising when implementing its practices on global scale, especially in Vietnam. What Is Corporate Social Responsibility (CSR)? Since it is a rising issue in worldwide businesses nowadays, the concept of social responsibility (sometimes called corporate social responsibility, abbreviated as CSR, or corporate citizenship, triple-bottom line, social enterprise, and corporate governance, etc.) should be defined precisely. Griffin & Pustay (2013, p. 121) suggested that CSR is “a set of obligations an organization undertakes to protect and enhance the society in which it functions.” In other words, CSR is perceived as a social role that an organization is expected to play or an evaluation standard on how well a company manages their economic, social, and environmental influences. Hence, companies are facing rising demands to exercise their social responsibility toward their stakeholders such as employees, consume... ... middle of paper ... ...heorising the interconnectivity between corporate social responsibility (CSR) and corporate identity.Journal of Management and Sustainability, 3(1), 74-94. Retrieved from http://search.proquest.com/docview/1437977553?accountid=63189 Shubiri, F. N. A. L. -., Al-abedallat, A., & Orabi, M. M. A. (2012). Financial and non financial determinants of corporate social responsibility. Asian Economic and Financial Review, 2(8), 1001. Retrieved from http://search.proquest.com/docview/1417571919?accountid=63189 Slater, A., Thanatrakolsri, S., & Wokeck, L. (2013).Enterprise based approaches to economic development and poverty alleviation. In Business Briefing. Retrieved from http://www.csr-asia.com/publication.php Smith, R. E. (2011). Defining corporate social responsibility: A systems approach for socially responsible capitalism. (Master's thesis, University of Pennsylvania).

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