Background of Csr

5929 Words Apr 5th, 2011 24 Pages
Background of Corporate Social Responsibility

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1.1 Evolution of csr: A Short History
“We believe that the leading global companies of 2020 will be those that provide goods and services and reach new customers in ways that address the world’s major challenges—including poverty, climate change, resource depletion, globalization, and demographic shifts.”
Niall Fitzgerald, former ceo & Chairman, Unilever

Debates over the concept of csr span from the 1930s to the 21st century. A debate over the responsibilities of corporate managers and directors to their shareholders and other groups directly influenced by corporations took place in North America during the 1930s, marking one of the first significant discourses
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“Companies without a capacity to manage social and environmental performance will be at a significant disadvantage compared to companies that aggressively develop a capacity to engage in stakeholder dialogue and effectively manage csr.”
[Ethical Corporation magazine, 2002]

5 Jerome F. Sheestack., “Corporate Social Responsibility in a Changing Corporate World” in Ramon Mullerat, ed., Corporate Social Responsibility: The Corporate Governance of the 21st Century, (The Hague: Kluwer Law International,, 2005), p.98

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Mapping Corporate Social Responsibility in Trinidad And Tobago

Also in many developed and developing countries, corruption is still widespread and there is a general lack of transparency and accountability which all give momentum to the emergence of csr. Finally, the growing awareness that csr is good for business has also aided its development. While the primary role of corporate executives is to maximize shareholder value, the global marketplace, where reputations matter deeply, dictates that shareholder value increasingly depends on corporate values. Business leaders understand that practising corporate responsibility affects their corporate reputation and brand image. Managers are becoming more and more aware that socially responsible investors and activist shareholders can impact the bottom line. For example, company executives recognize that their ability to retain and

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