Corporate Social Responsibility Essay

3084 Words13 Pages
1. INTRODUCTION “The notion of companies looking beyond profits to their role in society is generally termed corporate social responsibility (CSR). It refers to a company linking itself with ethical values, transparency, employee relations, compliance with legal requirements and overall respect for the communities in which they operate. It goes beyond the occasional community service action, however, as CSR is a corporate philosophy that drives strategic decision-making, partner selection, hiring practices and, ultimately, brand development (South China Morning Post 2002)”. “The social responsibility of business encompasses the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time (Archie B. Carroll, 1979)”. 2. CSR history The CSR is major factor influencing every business and organization. The concept of CSR was as old as the business and trading. In 17 BC the king Hammurabi in the Mesopotamia has enforce a law to product the forest. He hanged the persons to death those who cut the trees in his period. In 1622 the “Dutch East India Company “has released their brochures informing the public about their management policy, secrets and development plan. The globalization of the business has brought several serious issues to the people, society and environment. In 20th century this CSR has become a global issue and regulatory bodies has enforced some set of rules to incorporate in their business activities. 3. CSR dimensions The CSR is broadly classified into two dimensions. They are ➢ Internal dimension ➢ External dimension These two dimension forms the entire concept of CSR. 3.1. Internal Dimension The internal dimensions that are to be considered for CSR are ➢ Human capital ➢ Health and safety ➢ Restricting The internal dimension considers
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