Further, in the 1980s, fewer definitions of CSR were proposed. Despite of having any consensus in relation to the concept of CSR, in 1990s, there was a move toward alternative themes that were related and sometimes based on CSR such as stakeholder theory, corporate citizenship, and business ethics theory. Calls for the development of a uniform reporting system were ignored. Resistance from organised groups to the concept of regulating corporate social reporting was one of the reason. Another reason was the fall of the former socialist economies followed by development of neo-liberal economic policies in those governments which directly affected Corporate Social Responsibility. With these policies corporation was free to increase ‘shareholder value’ at the expense of other stakeholders. Along with the globalisation of business strategies, all this encouraged reservation and sometimes bitterness toward the concept of Corporate Social Responsibility.
Phase 4: the Late 1990s to the Present
Neoliberalism started dominating world from 1990. The hype was focusing on free trade by reducing the barrios in between free trade in the context of WTO and FDI. Shine of Neo Liberalism started in 2000 eventually ended by 2008 crises and it proved that neoliberalism is unable to cure social problems ad to do welfare of society. Irresponsible corporates like Lehman Brothers or Enron was excellent examples. It was the time when different efforts was done on Corporate Social Responsibility and Reporting. Moreover, it has become easier for people to access information about company’s social and environmental performance and interaction and communic...
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...’s reform programmes. These programmes included activities that tried to pursue in particular women’s empowerment, the abolition of untouchability, and rural development.
The third phase of CSR (1960–80) was related to "mixed economy", emergence of Public Sector Undertakings (PSUs) and laws related to labour and environmental standards.
This was the period when public sector was prime mover of development and private sector was forced to backseat. The period was called as an "era of command and control" because of the strict and rigid legal rules and regulations surrounding the activities of the private sector. In 1965 a workshop was set up by Indian politician academicians and businessmen on CSR aiming reconciliation which highlighted social accountability, transparency and regular stakeholder dialogues. Despite such attempts the CSR failed to catch steam.
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