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Corporate Social Responsibility - Coggle Diagram
Corporate Social Responsibility
is a concept whereby companies integrate social and environmental concerns into their business operations and voluntarily interact with the stakeholders.
CSR is continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community nd society at large.
CSR from a Historical Perspective
B. The Catalyst for Modern Corporate Social Responsibility
The term Corporate Social Responsibility was officially coined in 1953 by American economist Howard Bowen in his publication Social Responsibilities of the businessman. Bowen is often referred to as the father of CSR
1970s CSR truly began to take flight in the United States. 1971 the concept of the "social contract" between businesses and society was introduced by the committee for Economic Development.
Early 1980s CSR continued to evolve as more organization began incorporating social interests in their business practices while becoming more responsive to stakeholders.
C. Universal Acceptance of Corporate Social Responsibility
1991, the University of Pittsburgh prof. Donna J. Wood published Corporate Social Performance Revisited which expanded and improved on early CSR models by providing a framework for assessing CSR programs impacts and outcomes.
Early 2000s CSR had become an essential strategy for many organizations with multi-million dollar companies.
1990s marked the beginning of widespread approval of CSR
A. The 1800s and the birth of Responsible Organization
Originating from the Industrial Revolution
In the mid-to late 1800s, there was growing concern about worker well being and productivity among industrialists.
In the late 1800s was the rise of philanthropy.
Historical Phase of CSR
Phase 2 Trusteeship Management (the early 1900s
Phase 3 Quality of Life Management (the 1930s)
Phase 1 Profit Maximizing Management (the 1800s to early 1900s)
Perspective of CSR
Managerial View
Public View
Classical View
Religious View
Four Corporate Social Responsibility
Legal Responsibility
Is about complying with the minimum rules that have been set
Ethical responsibility
Is beyond society's normative expectations laws and regulations
Economic Responsibility
Is about producing goods and services that society needs and making a profit
Philanthropic Responsibility
Includes voluntary or discretionary activities and practices of businesses