This paper deals with the concept of CSR and its standards. First the concept of CSR is described. Then some common CSR standards are introduced and characterized. In the last part of this paper the advantages and disadvantages of Corporate Social Responsibility Standards will be discussed and assessed.
The Appendix contains an overview of different Corporate Social Responsibility Initiatives, Codes and Standards. “There is one and only one social responsibility of business – to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."
According to Friedman there are no reasons for businesses for social engagements. Such activities rather contradict to the real purpose of a company that is the maximization of the shareholder value. The abatement of social problems and difficulties lay in the hands of the state and the society themselves, so Friedman, also because they can address these issues more efficient.
Do businesses therefore not have any social responsibilities, should they really not operate social? This mindset changed in the last years and the concept of Corporate Social Responsibility (CSR) of companies became more important worldwide in the areas of economy, society and politics in recent years. A lot of incidents like corruption and accounting affairs, nontransparent management compensations, mass layoffs despite increasing profits, questionable production and employment methods in subcontracting firms or hygienic impairment of consumers did shake tremendously the confidence of the people in the economic system. Socially acceptable and environmentally compatible actions beyond governmental regulations shift into the focus of the people again.
Corporate Social Responsibility describes the actions of organizations and especially corporations which contribute to the good of their stakeholders that are its employees, customers, shareholders, the environment and the society as a whole. The upcoming belief that corporations have a greater responsibility to civil society than merely generating profits has put pressure on them to integrate social and environmental considerations into their business models.
Table of Contents
- Introduction
- Corporate Social Responsibility
- Historical Review
- What is CSR today and why is it needed?
- Paternalism versus Philanthropy
- Definition of Corporate Social Responsibility
- Corporate Social Responsibility Standards
- Overview of CSR Standards
- Pros of CSR Standards
- Cons of CSR Standards
- Conclusions
Objectives and Key Themes
This paper aims to explore the concept of Corporate Social Responsibility (CSR) and its associated standards. It examines the historical development of CSR, defines the contemporary understanding of the concept, and analyzes the advantages and disadvantages of implementing CSR standards.
- The historical evolution of Corporate Social Responsibility
- The definition and contemporary relevance of CSR
- The various standards and codes of conduct within CSR
- The benefits of adopting CSR standards
- The drawbacks and challenges associated with CSR standards
Chapter Summaries
Introduction: This introductory chapter sets the stage for the paper by contrasting Milton Friedman's view of a company's sole responsibility as profit maximization with the evolving understanding of Corporate Social Responsibility (CSR). It highlights the increased importance of CSR in response to various corporate scandals and growing societal expectations for ethical and sustainable business practices. The chapter lays out the paper's structure, outlining its intention to delve into the concept of CSR, explore relevant standards, and finally assess the pros and cons of implementing these standards.
Corporate Social Responsibility: This chapter provides a historical overview of CSR, tracing its development from medieval times to the present day. It contrasts the historical context of societal responsibility with the rise of individualism and industrialization, noting the shift from collectivism to profit maximization as a primary corporate goal. The chapter highlights how the exploitation of resources and labor led to a reconsideration of corporate social roles. It also touches upon differing interpretations of CSR in the USA and Europe, emphasizing the practical application in the former versus the conceptual framework within a social market economy in the latter. The chapter sets the foundation for understanding the current complexities and nuances surrounding CSR.
Frequently Asked Questions: A Comprehensive Language Preview
What is the purpose of this document?
This document provides a comprehensive preview of a paper exploring Corporate Social Responsibility (CSR). It includes the table of contents, objectives and key themes, and chapter summaries, along with keywords. The preview is intended for academic use and analysis of themes.
What topics are covered in the paper?
The paper covers the concept of Corporate Social Responsibility (CSR), its historical development, contemporary understanding, and the advantages and disadvantages of implementing CSR standards. Specific topics include a historical review of CSR, definitions of CSR, various CSR standards and codes of conduct, benefits of adopting CSR standards, and challenges associated with CSR standards.
What is the historical perspective on CSR presented in the paper?
The paper traces the historical evolution of CSR from its roots to the present day. It contrasts historical societal responsibility with the rise of individualism and industrialization, highlighting the shift from collectivism to profit maximization as a primary corporate goal. It also explores how the exploitation of resources and labor influenced the reconsideration of corporate social roles and how interpretations of CSR differ between the USA and Europe.
How does the paper define Corporate Social Responsibility?
The paper provides a definition of contemporary Corporate Social Responsibility, contrasting it with historical approaches. It explores the nuances and complexities of the concept, setting a foundation for understanding its current relevance and application.
What are the key themes explored in the paper?
Key themes include the historical evolution of CSR, the definition and contemporary relevance of CSR, various CSR standards and codes of conduct, the benefits of adopting CSR standards, and the drawbacks and challenges associated with CSR standards. The contrast between profit maximization (as exemplified by Milton Friedman's views) and the increasing societal expectation for ethical and sustainable business practices is also a central theme.
What are the chapter summaries included in the preview?
The preview includes summaries of the Introduction and the Corporate Social Responsibility chapter. The introduction sets the stage by contrasting opposing viewpoints on corporate responsibility and outlines the paper's structure. The Corporate Social Responsibility chapter provides a historical overview, examines differing interpretations across countries, and lays the foundation for understanding the complexities of CSR.
What is the overall objective of the paper?
The paper aims to explore the concept of Corporate Social Responsibility (CSR) and its associated standards. It seeks to examine the historical development of CSR, define the contemporary understanding of the concept, and analyze the advantages and disadvantages of implementing CSR standards.
Who is the intended audience for this preview?
This preview is intended for academic use, supporting structured and professional analysis of themes related to Corporate Social Responsibility.
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- Thomas Vogt (Autor:in), 2007, Corporate social responsibility standard - Pros and Cons, München, GRIN Verlag, https://www.grin.com/document/91897
