The paper "Corporate Social Responsibility: Broad Contours and Concept" is an outstanding example of business coursework. In the post-industrial age of today wherein, the world is witnessing a mushroom growth of corporations all seemingly striving only to ensure maximizing their profits while the critics of capitalism tirelessly criticize this dehumanizing consumerism corporate social responsibility is an essential element company needs to incorporate so as to stay relevant in a world increasingly becoming concerned about the need for humanizing the reign of capitalism. Corporate social responsibility comprises the vital ethical aspect of doing business keeping in view the prevalent scheme of things across the globalized world of today where it has become all the more important for the corporations to contribute something to the society within which they aim at accruing huge profits (Cavusgil et al, 2014).
This assignment aims at highlighting the importance of implementation of corporate social responsibility practices by companies and corporations as a means of getting a competitive advantage over the rival companies. This will begin by first bringing into light the basic concept of corporate social responsibility and competitive advantage.
Afterwards, it will analyze the relationship between the two in light of a few studies done. This assignment will also share concrete examples from the corporate world so as to show the dynamics of the actual relationship between the two. Towards the end, the assignment will conclude again highlighting the need for incorporation of corporate social responsibility not only as a means to earn goodwill among the potential markets by contributing towards socially- important causes so as to gain a competitive edge but also to humanize the otherwise increasingly dehumanizing consumerism. Corporate Social Responsibility: Broad Contours and Concept Considered largely to be a post-World War II phenomenon the notion of corporate social responsibility is gaining an ever-increasing significance and is expanding in terms of its appeal and awareness of its necessity in the modern global corporate world of today.
Its proliferation was initially limited to the developed and industrialized countries alone but now it is also witnessing an upsurge in the developing countries (Carroll & Shabana, 2010). As far as the basic origins of the notion of corporate social responsibility are concerned it is traced back to 1946 lectures of Dean Donald K.
David to his MBA class wherein he drew the attention of his students, potential future business leaders, towards the responsibilities of the businesses towards the communities they thrive in (Spector, 2008). However, as far as the probable motives of the initiation of the concept of CSR are concerned Spector (2008) is of the view that it originated as a defence of free-market capitalism in the backdrop of the need to check or at least counter the growing appeal of Soviet Communism.
Later on, in the 1950’ s Frank Adams, a New Jersey-based business executive brought into limelight the necessity of the focus not merely on profit-making but also on contributing towards socially-substantial causes aiming at improving the lives of their workers, potential customers and the common public in general (Abrams, 1951). Yet another advance towards the prevalent concept of corporate social responsibility was registered by Howard R. Bowen’ s famous and groundbreaking work Social Responsibilities of the Businessman published in 1853.
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