Contents
Introduction 1- CSR Defined 2
- Middle Path of CSR 3
- Corporations and CSR in today`s scenario 3
- CSR Influence Factors and resulting scenario 4
- 1) Labor and employment scenario 4
- 2) Departure from short term outlook 4
- 3) Stakeholder consideration 4
- 4) Globalized world 4
- Benefits of CSR 5
- CSR Framework 6
- 1) Activity Mapping with Stakeholders 6
- 2) CSR Activity Level 7
- 3) CSR Management Cycle 8
- Conclusion 8
- References 9
Description
Over the past two decade the world has witnessed increased globalization, deregulation, and privatization. This has meant that private enterprise today plays an important role in all sphere of life. Corporate power has grown and social welfare is seeing reduced funding by the governments. The challenges facing society today such as environmental climate change, enforcement of labor standards and basic human rights cannot be solved without cooperation of private sector. Private corporations are expected to contribute in the improvement of social welfare of citizens and to act in an ethical manner. They are expected to contribute more towards in protection of human rights, environment and maintain social cohesion.
This concept is today being known as corporate social responsibility (CSR) and much attention has been paid into this (Andrews, 1972; Carroll, 1979; Freeman 1984; Utting, 2005; Luo. X. & Bhattacharya C.B, 2006) CSR is an attempt by the company to attain balance between the interests of all its stakeholders and it should be aligned with its strategic objectives and operations.
