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Finance and Accounting : Corporate Social Responsibility - Essay Example

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Finance and Accounting : Corporate Social Responsibility

Nonetheless, it is in the last three decades that numerous discourses on CSR happened (Campbell 2007). There is an assumption that the notion of CSR has contributed to the changed nature of modern organizations (Tencati & Zolsnai, 2009). Since, CSR becomes the theoretical basis for organisations to accept the truism that their responsibility is not only to secure and increase profit for the firm (Milton, 1970), but it also includes being responsible to other actors in the society that maybe affected by the actions and activities of the company. 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. Finally, it intends to determine the continued possible merits of CSR despite some impunities of some well-rated firms.. In order to address the issue and achieve the objectives of the study, the research adopted documentary analysis of some articles relevant to the research topic. The databases Academic Source Premier, Regional Business Premier, Jstor, ERIC, Business Source Premier, and Google Scholar were searched using the key terms corporate social responsibility, organisations, global economic downturn, management and profit. Documentary analysis of various scholarly articles pertaining to the subject matter was undertaken. In the documentary analysis, comparative analyses of the various positions of the scholars were made. From these analyses, the researcher tried to draw and arrive at a possible answer to the problem of the study. As the research intends to find the continued significance of CSR, scholarly articles claiming that there is no longer relevance for CSR because of the recent events in the business world will be presented. Meanwhile, articles discussing the continued relevance and validity of CSR will also be given. This is undertaken in order to get the perspective of both sides and from there try to find the feasible solution to the query of the research. I hope that this study may assist in gaining a clearer perspective regarding the significance of CSR. The paper will have the following structure. The first part is the introduction where the research question, objectives of the study and the methodology adopted in the research were all presented. The second part will be about the background of the study. In this, section the definition of CSR and some actual instances wherein CSR of some companies are questioned. The third part will be dealing with the arguments stating why there is no more significance for CSR, while the fourth part will be tackling the position of those who argue that there is still relevance for CSR in the midst of the various scandals that some companies may be facing. The fifth part of the study will be the analysis, which will deal with the proposed solution for ...Show more

Summary

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)…
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Finance and Accounting Essay: Corporate Social Responsibility essay example
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