Another tenet of social responsibility is the triple bottom line, also known as people, planet, and profit. Social responsibility of business and social contract. It is considered by many academics and business executives as the seminal book on corporate social responsibility. Integrated in business models, this approach is known as corporate social responsibility csr. This is the belief that achieving profit does not require harm to the planet or the exploitation of people. This view is reflected in the business dictionary which defines csr as a companys sense of. Cq press your definitive resource for politics, policy and people. Social responsibility can translate either into a passive approach, whereby one refrains from harmful actions, or an active policy, through which one actively pursues social and environmental goals.
The social responsibility movement arose particularly during the 1960s with increased public consciousness about the role of business in helping to cultivate and maintain highly ethical practices in society and particularly in the natural. Saps sustainability and corporate social responsibility csr focus is an outgrowth of our purpose to help the world run better and improve peoples lives. Business ethics and corporate social responsibility. Pdf defining corporate social responsibility researchgate. We need business to understand its social responsibility, that the main task and objective for a business is not to generate extra income and to become rich and transfer the money abroad, but to look and evaluate what a businessman has done for the country, for the people, on whose account he or she has become so rich. Social responsibility means that businesses, in addition to maximizing shareholder value, must act in a manner that benefits society. Organizations can profit while also taking care of the planet and people. Csr corporate social responsibility definition and examples.
The a to z of corporate social responsibility revised and. Dictionary of corporate social responsibility csr, sustainability. Comprehensive coverage of the interaction between business and society reveals how csr is defined, negotiated, and managed in the twentyfirst century. Sage reference the complete guide for your research journey. Bsr is a global nonprofit organization that works with its network of more than 250 member companies and other partners to build a just and sustainable world. Sep 12, 2019 social responsibility is the idea that businesses should balance profitmaking activities with activities that benefit society. Social responsibility is an ethical policy according to which organizations and individuals should act for the benefit of the community by protecting the interest of the underprivileged and taking into account the effects of their actions. This book is a concise and authoritative reference work and dictionary in the field of corporate social responsibility, sustainability, business ethics and corporate governance. First published in 1953, this book is acknowledged for its comprehensive discussion of business ethics and social responsibility and, is thereby, frequently cited by other sources. Csr is an evolving business practice that incorporates sustainable development into a companys business model. Corporate social responsibility csr is basically, what an organization does over and above the statutory requirement for the benefits of all the.
Legitimacy theory is based on the idea that a social contract exists between business and society. Corporate social responsibility csr is a selfregulating business model that helps a company be socially accountableto itself. It is evident from above, the social responsibility of business implies that a corporate enterprise has to serve interests other than that of common shareholders who, of course, expect that their rate of return, value or wealth should be maximised. Corporate responsibility or sustainability is therefore a prominent feature of the business and society literature, addressing topics of business ethics. Corporate social responsibility history 1 negative aspects of csr 2 positive aspects of csr 3 the stakeholder concept 4 global issues 5 specific csr practices 6 organizations involved in csr 7 bibliography 8 in their 2003 book, business and society. Social responsibility has become increasingly important to investors and consumers who seek investments that are not just profitable but also contribute to the welfare. Aug 02, 2016 samuel is a vice president of the global corporate governance institute. With recommended web links for many entries, accessible and kept up to date via the dictionary of business and management companion website, this edition is more informative than ever. Corporate social responsibility csr is a type of international private business selfregulation that aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethicallyoriented practices. Ultimately, therefore, the purpose of the strategic csr concept and this book is radicalit aims to redefine both business education and business practice. The social responsibility of business organisations is getting increased attention in recent years, and a strong perception has developed among the business managers worldwide and that.
A companys sense of responsibility towards the community and environment both ecological and social in which it operates. Carrolls pyramid of corporate social responsibility. Corporate social responsibility csr is a form of corporate self regulation integrated into a business model. You might disagree with milton friedmans famous claim that the sole social responsibility of business is to increase its profits. Dictionary of business and management oxford reference.
Social responsibility cambridge dictionary english. Social definition, relating to, devoted to, or characterized by friendly companionship or relations. Companies express this citizenship 1 through their waste and pollution. Includes resources in the area of ethical or socially responsible investing. Home accounting dictionary what is social responsibility. Among other things my hope for this book and volumes like it is that they will gradually change. Sage books the ultimate social sciences digital library. The a to z of corporate social responsibility is a unique publication and is the culmination of over a hundred of the worlds leading thinkers, opinion formers, academic and business people providing an easytouse guide to csr.
Dictionary of corporate social responsibility springerlink. There is expanded coverage of financial regulation and corporate social responsibility, including entries such as awshucks defence and financial conduct authority. Most companies have special training, seminars, and even a separate division to establish. While primarily associated with business and governmental practices, activist groups and. This az reference work is essential for business students, teachers and professionals, and useful for anyone needing a guide to business terminology. We believe social, environmental, and economic activities and performance are interrelated each impacting the others. According to legitimacy theory, companies disclose social responsibility information to present a socially responsible image so that they can legitimize their behaviours to their stakeholder groups. Corporate social responsibility madhumita chatterji. Most organizations can be placed somewhere in between. The social responsibility of business acton institute. In 1953, howard bowen published a book entitled the social responsibility of the businessman in which he explains why. Csr can be an unwieldy subject area, as any aspect of business has an impact on society. The obligation of an organizations management towards the welfare and interests of the society in which it operates.
Social responsibility of business economics discussion. The definition of social responsibility is the obligation someone has to help the greater community. Social responsibility refers the to business ethics concept of being accountable for impacting society and culture. It provides reliable definitions to more than 600 terms and concepts for researchers and professionals alike. Corporate social responsibility csr definition investopedia. Fisher, 37, will be responsible for corporate planning. Business ethics and corporate social responsibility books and ebooks search this guide search. The new edition of this bestselling dictionary elucidates modern financial and management jargon, defining entries in a clear, concise, and accessible manner. Bowens social responsibilities of the businessman was the first comprehensive discussion of business ethics and social responsibility. Pdf social responsibility of business researchgate. All actors in the field will find reliable and up to date definitions and explanations of the key terms of csr in this authoritative and comprehensive reference work. Corporate social responsibility and international development.
Corporate social responsibility, often abbreviated csr, is a corporations initiatives to assess and take responsibility for the companys effects on environmental and social wellbeing. Ethics takes a major role in the modern era of business. Corporate social responsibility and sustainable business. What we know and dont know about corporate social responsibility. Dictionary of corporate social responsibility emerald insight. Corporate social responsibility madhumita chatterji oxford university press we use cookies to enhance your experience on our website. Business and society a strategic approach to social responsibility 4th edition by ferrell and thorne solution manual 1 chapters updated apr 16, 2019 12. Social responsibility is an ethical or ideological theory that an entity whether it is a government, corporation, organization or individual has a responsibility to society. Encyclopedia of corporate social responsibility samuel o. The relative newness of the corporate form has caused us to puzzle about its nature.
A corporation, according to friedman, is an artificial person and, therefore, may have artificial responsibilities. The social responsibility of business is to increase its profits states that only people can have responsibilities, and that there is not such a thing like social responsibility of business. However, the social responsibility movement is but one aspect of the overall discipline of business ethics. At movingworlds, we support a lot of professionals actively building their cvs to prepare for a career in csr.
Dictionary of corporate social responsibility request pdf. An annotated list of selected print and internet business resources on corporate social responsibiity. Sage video bringing teaching, learning and research to life. A dictionary of business and management oxford quick. Corporate social responsibility cambridge dictionary. In a business context, this refers to the charitable donations and volunteer work they do in support of the local community. He has led several edited books in csr and is the editorinchief of two springers reference books the encyclopaedia of corporate social responsibility and the dictionary of corporate social responsibility. This book is a concise and authoritative reference work and dictionary in the field of corporate social responsibility, sustainability, business ethics and corporate. The encyclopedia of corporate social responsibility has been conceived to assist researchers and practitioners to align business and societal objectives. Sep 18, 20 for these reasons, we need to ask whether the strong view of corporate social responsibility is wellgrounded in a proper understanding of the nature of a business corporation and whether it is an accurate description of whatever social responsibility it may have. This book deals mainly with the purchase of business assets from a corporate vendor by a.
Popular csr books share book recommendations with your. Definition of social responsibility in business bizfluent. Community involvement in itself can also be socially responsible. The business case for social responsibility and quality. Corporate social responsibility is a comprehensive textbook designed for post graduate management students. Corporate social responsibility csr is a type of international private business selfregulation. A previous book with the same editorinchief published as the. From its offices in asia, europe, and north america, bsr develops sustainable business strategies and solutions through consulting, research, and crosssector collaboration. Sage business cases real world cases at your fingertips. List of books and articles about social responsibility. By building a theory that defines csr as core to business operations and value creation as opposed to peripheral practices that can be marginalized within the firm, these defining principles become applicable across the range of operational functions. May 06, 2014 nothing prepares people for a career in csr then the combination of experience in business and with social impact organizations.
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