“Multinational Corporations’ Social Responsibility with Particular Reference to Consumers and Society: OECD Guidelines and Islamic Principles” (original) (raw)
CSR as a concept covers many issues.doc
The concept, Corporate Social Responsibility (CSR) is a strongly debated topic and until recently, there was hardly any disagreement that the objective of a corporation was to maximize long-term shareholder wealth. Then corporate executives struggled with the issue of the corporation’s responsibility to society. However, it became quickly apparent to everyone that this pursuit of financial gain for the shareholders had to take place within the provisions of the laws of a given society, which encourages the interests of all others stakeholders be considered in this pursuit of financial gain. Matters arising from this debate, bring to the fore certain questions. Should businesses attempt to solve societal problems? What is the role of government to society? Should businesses merely maximize shareholder wealth? If we claim corporations have responsibilities to society, what support can this assertion be based on? It follows that, to understand CSR as a multidimensional concept and its impact on corporation’s behaviour, it is necessary to understand the progression of CSR concept and the two sides’ arguments concerning CSR.
The CSR: Case of Moroccan Companies
Nobody argues the fact that a company can be a legal person may hold assets and liabilities. Today, the debate is stronger around the rights and duties with regard to men and environment that go with that status. We intend to primarily reflect on the dimension of social responsibility in other words, "corporate social responsibility". A company must be able to act and be held accountable for their actions or inactions as would a humain being. The issue of capacity and the means to achieve this has been discussed in corporate governance, politics, economics and business. In this paper, we think of the concept of CSR perspective of strategic management and try to demystify the theoretical foundations as well as the evolution of the concept and its tools. It stems from a critical reading in hypothesis. A comparative approach between the companies is advanced in reading and verification of hypotheses in search of an evaluative grid positions and managerial practices more appropriate for the Moroccan company.
The International Journal of Business and Management, 2020
Introduction Globally, corporate social responsibility (CSR) is an evolving concept and complex, without a clear and agreed-on definition, meaning different things to different culture or people (Chikwe, 2012). It encapsulates a whole broad area, involving corporate commitments, ethical conducts, legal considerations, socioeconomic imperatives, philanthropic gestures, operational environment imperatives and the likes. However, CSR describes a set of corporate obligations and practices somewhere in the spectrum between traditional charitable giving and meeting up socioeconomic demands and environmental sustainability on one hand, and merely strict compliance with laws on the other. CSR as a management concept is also variously viewed as a concept that covers a wide variety of business and environmental issues relating to plant location and technicalities, employee relations, socioeconomic concerns, human rights, ethics, corporate-community relations and environment (Enahoro, Akiuyemi and Olutoye, 2013). CSR can also be described as the variety of interactive issues revolving around business organization and society or community environment where the corporations operate. Relatedly, Surdyk (2006) succinctly expressed that, while the CSR operating definition remain elusive, the term CSR generally refers to a company's efforts to explicitly include social and environmental concerns in its decision-making along with a commitment to increasing the organization's positive impact on society. As similarly posited, CSR enhances the building of social welfare beyond profitability, as well as developing loyalty and corporate reputation, and at the end serves as a building block for competitive advantage (Arvidson, 2010; Ormiston and Wong, 2013). The mindset of classical CSR revolves around Milton Friedman's conception and theory that what corporation owe society is only efficient economic responsibility, while governments owe the social ends (Arvidson, 2010; Freedman and Dmytriyev, 2017). In relation to our present CSR study direction, a theory can be viewed as an explanation of some phenomena (e.g., corporate social responsibility imperatives), and it consists of principles that state relationships observed in association with that phenomenon (Blaylock, 1971; Hodge, Anthony and Gales, 1998). A theory is a way of thinking, perceiving and analyzing organizations' phenomena. Theory belongs to the family of words that include, guess, speculation, supposition, conjecture, proposition, hypothesis, conception, explanation and model (Weick, 2005, in Smith and Hitt, 2005). A theory in general guides and provides knowledge base and understanding of the basic relationships derivable from various knowledge-based disciplines. In brief, theory guides practices. Theory emanates from a Greek word, theoria,which means, viewing or contemplating. Theory deals with a contemplative body of ideas; a sort of rational kind of abstract, generalizing
For the better understanding of the reader, this paper is divided into two parts. The first part of the paper discusses about the International Standardization in regard to CSR. The latter part of the paper throws light on the status of CSR in the developing countries. In the first part, the article deals with internationally acknowledged standards and norms in the sphere of corporate social responsibility. It introduces the concept of social responsibility, the so-called triple-bottom line, in terms of which the company focuses not only on the economic growth but it also takes into account environmental and social aspects of its business activities. The article presents five norms and standards which stem from the triple-bottom line concept. The second part of article is primarily focused on the drivers of the CSR in the developing countries and throws lights on what could be the Ideal CSR Pyramid for developing countries and it ends with the conclusion
Approaches Impact of CSR in Companies
2015
In advocating for CSR we shall start from the fact that there should be a policy on the company level according to which these companies have a responsibility that goes beyond a simple algorithm on profit. This concept is based on the responsibility towards people, society and environment that are affected by their activity. Beside the company’s contribution to the society by creating work places, taxes and collateral economic effects, the company can develop products, services, production methods and business practices. In this context, CSR ensures the achievement of a strong connection between the private environment and the community, contributing at the same time to the sustainable development of the company. The CSR concept should be regarded as an integral part of the company, that should not hinder the proper activities conducted by that company, but to represent responsibility towards society.