Essay on Corporate Social Responsibility

2882 Words Apr 16th, 2014 12 Pages
VIEWS AGAINST THE NEOCLASSICAL ECONOMICAL SHAREHOLDER APPROACH

SWAPNA NANDHAKUMAR
G20613641

INTRODUCTION

Corporate Social Responsibility (CSR), defined as “the broad array of strategies and operating practices that a company develops in its effects to deal with and create relationships with it numerous stakeholders and the natural environment” (Waddock, 2004). Globalization and liberalization has reinforced with the introduction of corporate social responsibility, Developing countries need to focus more about the corporate social responsibility planning and implementation process (Kiran and Sharma, 2011). Corporate social responsibility is one of the most important issues and developments of 21st century
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Beliefs toward the corporate responsibility of the society is focused on the following; providing customers with quality products and services, having a safe working place, investing into human development, building genuine relationship with all stakeholders, increase the wealth of shareholders and business operations with the motive of adding values, following ethical values within the business process and by contributing to civil society through partnership and community development projects. Shaw (1988) not all organizations work with the motive of profit making for example, in a hospital or school the managers will not have profit

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