Corporate Social Responsibility in International Business

1681 Words7 Pages
In the past, the only thing most of businessmen interested in is how to maximize profits of companies and cut the cost as much as possible at any price. Very few companies of that time worried about the moral values and ethics in doing business. And when the concept corporate social responsibility (CSR) first appeared in the 1950s, not much corporation appreciated it, businessmen in that decade “talked” more than “action”. However, the emergence of this viewpoint showed the trend of the way doing business of the world has been changing. (Carroll, A. B., 2008).1 CSR is a quite new term compare to long history of the consciousness about behaving ethically on society beyond maximizing profit, and just has only become popular since the 1990s, when the globalization has widen with an astonishing speed (Muirhead, 1999).2 International trading, investment in foreign countries become easier and more popular, large amount of profit are earned, more opportunities to seek as well as more fierce competitions and more challenges in new cultural environment. In that situation, corporations need to find some ways to increase reputation, to specialize their image and brand name, which is highlighting the importance of ethics and corporate social responsibility in business. This essay will describe briefly about corporate social responsibility, how it effects on international business, different opinions about CSR of shareholders and stakeholders, and finally, difficulties international organization face when implement a CSR program in Vietnam. Description of corporate social responsibility (CSR) There are different definitions or names are used to analyze the meaning of CSR in different context, for example, corporate responsibility, corporate et... ... middle of paper ... ...://dx.doi.org/10.1007/s10551-007-9467-4 WTO | 2007 News items - Viet Nam joins WTO today, 11 January 2007. (2007). Retrieved from http://www.wto.org/english/news_e/news07_e/acc_vietnam_11jan07_e.htm Saga Vietnam, 2008. Social responsibility of business: Van de son nguyen appeal. Available at http://www.saga.vn/view.aspx?id=9582 [Retrieved on 17 March 2010]. Pham, H. D. (2011). Corporate social responsibility: A study on awareness of managers and consumers in Vietnam. Journal of Accounting and Taxation, 3(8), 162-170. Retrieved from http://www.academicjournals.org/JAT Bui, T. L. H. (2010). THE VIETNAMESE CONSUMER PERCEPTION ON CORPORATE SOCIAL RESPONSIBILITY. Journal of International Business Research, 9, 75-87. Retrieved from http://search.proquest.com/docview/875107737?accountid=63189 VINAMILK. (n.d.). Retrieved from http://www.vinamilk.com.vn/eng/?vnm=market&id=14
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