What´s Corporate Social Responsibility?

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Corporate Social Responsibility Description The most widely heard question about corporate social responsibility is what it is? There have been many different definitions of CSR for the last 60 years (Madrakhimova, 2013). To some extent, from Jamali’s (2008) and Hopkins’s (2007) point of view, CSR is defined as the corporate commitments to sustainable development, ethic and responsible treatment to stakeholders, and society welfare improvement. From the 50s until present, CSR has been applied widely as the world becomes one due to the globalization. The areas that CSR covers are not only the company shareholders but also whoever involves in its business- other stakeholders. Besides, the natural environment and general social welfare are two areas related to corporate social responsibility (Griffin & Pustay, 2013). Firstly, talking about organizational stakeholders, including customers, employees, and investors, CSR aims to take responsibility of protecting their benefits. For example, CSR practices to treat employees fairly, strive for gender equity, provide qualified products to customers, and offer appropriate information to shareholders. Nextly, natural environment has always been an issue for promising long-term operation and CSR also covers this area. Nowadays, many laws enact to prohibit the wasted materials, pollution, when companies themselves are responsible for economically packaging and environment conservation (Griffin & Pustay, 2013). In Vietnam, the case of Vedan polluted Thi Vai river in the southern Dong Nai province in 2008 was an alarming bell for companies those don’t take CSR as a serious foundation. Finally, companies provide a part of CSR budget on enhancing society conditions. Williams (2011) stated that CS... ... middle of paper ... ...013). Evolution of the concept and definition of corporate social responsibility. Paper presented at the , 8(2) 113-118. Retrieved from http://search.proquest.com/docview/1434203570?accountid=63189 Tencati, A., Russo, A., & Quaglia, V. (2010). Sustainability along the global supply chain: The case of vietnam. Social Responsibility Journal, 6(1), 91-107. doi:http://dx.doi.org/10.1108/17471111011024577 Visser, W. 2008.Corporate Social Responsibility in Developing Countries.CSR in Global Context Williams, G. (2011). Responsible management in Asia Perspectives on CSR. (pp. 13-24). Hampshire: Palgrave Macmillan. Wong, L. C., & Ahmad, J. (2010). Incorporating stakeholder approach in corporate social responsibility (CSR): A case study at multinational corporations (MNCs) in penang. Social Responsibility Journal, 6(4), 593-610. doi:http://dx.doi.org/10.1108/17471111011083464

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