Question

Identify the key corporate social responsibility issues which are of major concern in an industry or public service of your choice (refer to Table 4.3). Compare the approach of two or more organisations in that industry, and explain how this relates to their competitive standing.

Answer 1

Concept of Corporate Social Responsibility (CSR) has been first introduced by Bowen (1952) and states that while implementing strategies and making their decisions, organizations should act taking into consideration society’s values [1]. At the end of 1970s, after development and inclusion of Stakeholder Theory into the management literature, CSR has been defined as covering all the relevant stakeholders. In this respect, Carroll (1979) defined CSR as sensitivity of an organization about the stakeholders’ expectations on the management of social, environmental, economic, ethic and legal issues [2].