Business Ethics and Corporate Governance, Second Edition

SUMMARY

 

The concept of CSR has come to mean that the responsibility of a corporation to the society is an inalienable part of its operations and strategy. CSR is about how companies manage the business process to produce an overall positive impact on society. It is qualitatively different from the traditional concept of corporate philanthropy. It acknowledges the debt that the corporation owes to the community within which it operates.

Corporations, whether public or private, draw much from society. If a corporation draws so much from society it has to make its own contribution to society.

Social scientists have formulated several theories that justify the importance of corporations engaged in promoting social welfare of the society in which ...