Corporate social responsibility (CSR) involves going beyond the interests of the firm and requirements of law to contribute in developing a sustainable environment and a better society (McWilliams and Siegel, 2001). Yet Vogel (2005) claims that regulation is required to ensure that companies comply with a standard of CSR. Unethical practices create negative images of organisations, however through adopting CSR; profitability may be increased through the positive image that society creates (Pava and Kraus, 1997). While Friedman (1970) argues that corporations are responsible for obtaining shareholder’s funds in a profitable and legal way, therefore not engaging in corporate philanthropy. Friedman’s view is egoistic, whereby acting to promote the greatest impact for the company compared to adopting a utilitarian approach which focuses on achieving the greatest good for the majority (Beauchamp and Bowie, 2004).
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Holland (2010) on the case of banks, knowledge and crisis, argues that the system of bank learning is inadequate in developing individual character. This he supports by the use of the tra... ... middle of paper ... ...D&TS=1305706193&clien tId=45065 McClure, M.2009. Creating Safe, Collaborative Cultures in a Web 2.0 World. EContent, 32(5), 22- 26. Retrieved from: http://proquest.umi.com/pqdweb?index=21&did=1768338941&SrchMode=1&sid=8&F mt=6&VI nst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1305787664&clientId=4506 5 Strong, K, & Weber, J.