The notion Corporate social responsibility (CSR) has provoked an extensive history of academic debate whether corporations have a social as well as financial responsibility to the community or not. The main conflict in this field has been associated with the evolution of the concept and the definition of CSR. Even though this concept has a long and varied history, which arose centuries ago, the formal writing on social responsibility, however, is mostly a product of the past 50 years. During that time, there have been many papers published by academics and business practitioners. Bowen (1953) marks the beginning of the modern period of literature and argued that centralised power of big corporations had influence on the lives of citizens, by company’s actions and decisions. Davis (1960) became famous because he emphasised the correlation between social responsibility and business power and justified socially responsible business decision in light of a good chance of bringing long-run prosperity to the corporation. In arguing against CSR, Milton Friedman (1970) seems to be widely accredited. In fact, he does not dispute the validity of CSR, but rather argues that when these activities are carried out for reasons of self-interest, then they are merely profit-maximization under the cloak of CSR. He set forth that the social responsibility of business is to increase their profits and its managers’ responsibility to act solely in the interest of its shareholders (maximising shareholders-value). This being said as a short introduction to the academic development of CSR, highlights that CSR is not at all common sense and therefore needs further theoretically examination.
Besides these debates in the academic world, there has been also a development in practise. The business world offers numerous examples of companies not only focusing on short-term profit without considering social and environmental issues. There have been an increasing number of companies containing ethical and moral values in their corporate strategy and considering their society and environment as important factors towards a long-term success. Successful companies such as Body Shop, Stonyfield Farm or Ben & Jerry’s have been establishing strategies which main focus relies on Corporate Social Responsibility and appreciated CSR as a business driver.
The aim of this paper is to critically evaluate social responsibility of business in a global economy.
Table of Contents
- Introduction
- Corporate Social Responsibility as an Umbrella Term
- Corporate Social Responsibility
- Corporation
- Theoretical Perspectives on CSR
- Shareholder Theory
- Stakeholder Theory
- Carroll's four-part Model of CSR
- Business benefits of Corporate Social Responsibility
- Ben & Jerry's Homemade Inc.
- Formation of Ben & Jerry's
- Product Mission
- Economic Mission
- Social Mission
- Critics about Ben & Jerry's
- Conclusion
Objectives and Key Themes
This paper aims to critically evaluate the social responsibility of businesses in a global economy. The paper will focus on defining CSR and evaluating whether corporations can have responsibility. The author will explore CSR theory and illustrate how it helps corporations differentiate their products and improve their reputation by acting socially responsible. This argument will be supported by an analysis of Ben & Jerry's Homemade Inc., a company known for its commitment to CSR.
- Defining Corporate Social Responsibility (CSR) and its theoretical perspectives.
- Examining the debate on whether corporations can have moral responsibility.
- Analyzing the relationship between CSR and business benefits.
- Exploring the case study of Ben & Jerry's Homemade Inc. as an example of a socially responsible company.
- Discussing the criticisms and limitations of CSR.
Chapter Summaries
- Introduction: The introduction provides a brief overview of the concept of Corporate Social Responsibility (CSR) and its relevance in today's business environment. It highlights the ongoing debate about the social responsibility of corporations, including perspectives from scholars like Bowen, Davis, and Friedman.
- Corporate Social Responsibility as an Umbrella Term: This chapter examines the concept of CSR as a broad and multifaceted idea. It discusses the various definitions of CSR, exploring different theoretical perspectives, including shareholder theory, stakeholder theory, and Carroll's four-part model of CSR.
- Business benefits of Corporate Social Responsibility: This section explores the various advantages that companies can reap from implementing CSR practices. It discusses how CSR can contribute to a company's financial performance, brand image, reputation, and customer loyalty.
- Ben & Jerry's Homemade Inc.: This chapter focuses on Ben & Jerry's Homemade Inc., a company renowned for its commitment to CSR. It examines the company's formation, its mission statement, and its approach to social responsibility. It explores how the company integrates CSR into its business operations and its impact on the environment and society.
Keywords
This paper examines the concept of Corporate Social Responsibility (CSR), including key theoretical perspectives such as shareholder theory, stakeholder theory, and Carroll's four-part model of CSR. It analyzes the business benefits of CSR and explores the case study of Ben & Jerry's Homemade Inc., a company recognized for its commitment to social responsibility. The paper also considers the criticisms and limitations of CSR.
- Citar trabajo
- Sebastian Kress (Autor), 2011, Evaluate the social responsibility of Ben & Jerry's in a global economy, Múnich, GRIN Verlag, https://www.grin.com/document/183313
