The paper "Concept of Corporate Social Responsibility " is an outstanding example of a marketing literature review. The concept of Corporate Social Responsibility (CSR) has gained much publicity in recent times. Besides being widely research, the business fraternity has increasingly recognized it as one of the key elements determining the competitiveness of any business; which if not taken into consideration may permanently affect its long-term viability. Of late, businesses are focusing on the responsibilities of a firm and the key question that arises is whether businesses should be left to concentrate only in areas of profit maximization or should also engage in activities that go beyond the economic role.
This study gives an insight into how modern businesses are currently undertaking corporate social activities not to respond to societal needs, but to gain a competitive advantage over their competitors. According to Freeman (1984), corporate social responsibility refers to a kind of corporate philanthropy that started in the late 1800 in, United States of America. Further, Collins (1993) defines the concept of corporate social responsibility as the policy and practice of firms’ social contributions that go beyond what it is obligated under the terms of its establishment to benefit the society at large.
In addition, Broberg, (1996) viewed CSR as to those actions by firms that go in line with societal expectations and values. Around the 1960s, the concept of CSR had developed further. Nonetheless, the companies, which had CSR programs, bore additional duties other than their legal obligations. Discussion Even though many organizations have embarked on corporate social initiatives, the concept is still not clearly understood, and many businesses are losing the focus on CSR.
For instance, in the case of Enron, social initiatives could not be accounted for. As such, despite initiating the social programs, the company lost focus and later abandoned them concentrating much on profit-oriented programs.
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