Corporate Social Responsibility ( Csr ) - 978 Words

The idea of a perfectly clear and all-encompassing definition of corporate social responsibility (CSR) has been much deliberated and remains controversial. The research of Marrewijk (2013, p.95) elaborated on the significance of this ongoing debate among academics, consultants and corporate executives which results in creating, supporting and criticising of different concepts. This essay will illuminate CSR principles, consider different definitions and concepts and relate it to my definition. Furthermore, it supports the argument of companies’ interest in CSR only for profit maximisation. Notably, Milton Friedman (2002) argued the desideratum of any other social responsibility for businessmen other than that of making maximum profits for their stockholders to exist when he clearly stressed: ‘Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible’ (p.133). He also reasoned the unavailability of determinant factors of such social responsibilities, taking into account that it is neither efficient nor reliable to enforce nebulous social responsibilities on corporations. Consequently, critics opine that the concept of CSR is inimical to sound business practices and strays away from the basics of wealth creation (Clement-Jones, 2005; Murray, 2005; Jamli and Sidani, 2008). These academics feel businesses should involveShow MoreRelatedCorporate Social Responsibility And Csr1566 Words   |  7 PagesSoc ial responsibility or also called Corporate Social Responsibility (CSR)- is the firm’s engagement (voluntarily initiated) in and its compliance (legally mandated) to environmental, social, and governance issues (The Foundation, 2014). Also, is based on stakeholder’s needs being financially sustainable, and CSR can come from both corporate or not-to-profit organizations. CSR has seven categories; Leadership, vision and values; Marketplace activities; Workforce activities; Supply chain activities;Read MoreCorporate Social Responsibility ( Csr )1167 Words   |  5 PagesCorporate Social Responsibility Introduction Corporate social responsibility (CSR) is a concept which is also known as corporate citizenship, corporate conscience or in a simple way a responsible business. It is an integrated concept of self-regulatory business model for any organisation. 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