Figure 1 Corporate Social Responsibility and Sustainable Development
2.1 History of Corporate Social Responsibility
Corporate Social Responsibility (CSR) is not a new matter of concern rather it is existing from early 21st century. Now a days, the companies are pushing themselves to be dominant in CSR practices. Many strong analytical arguments have been done until the year 1990 but the impact of globalization was not similar as in past few years (Farcane & Bureana, 2015, pp. 31-48). In 19th and 20th century, there was industrial revolution and this was the main era when there was rapid change which start effecting the environment and society (Polášek, 2010, pp. 6-25). Due to this, the society was critically involved in general concepts such as responsibility among society, ethics in the business that results in crucial monitoring of various NGOs (Non-Governmental Organizations) and other orga...
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...nterest was to boost or promote the corporate ethical culture stated by Frederick (Farcane & Bureana, 2015, pp. 31-48).
In the 90s, new CSR concepts were developed by take care of company’s profit maximization as a main goal along with societal welfare. BSR (Business Social Responsibility) included new terms while discussing about CSR; business ethics, sustainability, corporate citizenship and more (Carroll, The Oxford Handbook of Corporate Social Responsibility, 2008, pp. 19-42). The decade 1990s was of deep and intense discussions of corporate social responsibility and most of the debates were there as there were effects of globalization. Also, the CSR understanding was expanded by many scholars to develop more arguments related to sustainability, business ethics, corporate social performance, stakeholder’s theory and so on (Cheney, Roper, & May, 2007, pp. 7-9).
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