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Finance and Accounting Essay: Corporate Social Responsibility
Finance & Accounting
Pages 20 (5020 words)
Corporate Social Responsibility 1.1. Introduction Corporate social responsibility (CSR) is an essential facet of the business world in the last eighty years. As early, as the 1930’s idea of the social responsibility of organisations has already been alluded and discussed by some practitioners (Hemingway, 2002).
The ‘noble’ intention underpinning CSR has earned the ideal wide acceptance in the business world. However, in the recent past, many are questioning the validity and ’authenticity’ of CSR because of the obvious contradictions between what some well-known corporations are doing and saying. This situation is heightened by the Enron experience, the global economic crisis that started in 2007, and the various ethical issues involving pharmaceutical companies, sweatshops, child labour and other similar cases that persist despite claims of adhering to the tenets of CSR. Thus, now some are questioning the continued importance of CSR in the midst of corporate abuses and impunities. In this regard, this research will attempt to address the problem ‘is there still a continued significance for corporate social responsibility?’ With this question, the research aims to understand the current perception of some scholars regarding the importance of CSR. Likewise, the study intends to know whether there is still meaning for CSR in the contemporary period. ...
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