Corporate Social Responsibility

2898 WordsApr 29, 201412 Pages
VIEWS AGAINST THE NEOCLASSICAL ECONOMICAL SHAREHOLDER APPROACH SWAPNA NANDHAKUMAR G20613641 INTRODUCTION Corporate Social Responsibility (CSR), defined as “the broad array of strategies and operating practices that a company develops in its effects to deal with and create relationships with it numerous stakeholders and the natural environment” (Waddock, 2004). Globalization and liberalization has reinforced with the introduction of corporate social responsibility, Developing countries need to focus more about the corporate social responsibility planning and implementation process (Kiran and Sharma, 2011). Corporate social responsibility is one of the most important issues and developments of 21st century…show more content…
Organization should be planned in a way to react to its external environment in appropriate way. Herzberg’s two factor theory (1959) states for an organization hygiene factor and motivation are important for an employees working condition inside an organization. Socially responsible image is not just used to polish the image of an organization it is also a way of motivation factor; there are possibilities that employees find satisfaction in their work under such circumstances (Ruschak, 2008). Based on the consistency theory any organization needs to give equal importance to the corporate social responsibility to be incorporated in their firm, as it is one way to satisfy the employers in their work place and provide motivation toward achieving the goals of the organization. THEORY OF CONTINGENCY Everything in an organization depends on situations and environment plays an important role as it influence everything also the performance has to be based on the situation there is no specific behavior to be applied in all situation (Galbraith, 1973). Dictionary of human resource management (2001) the contingency theory suggests effectiveness of an organization is based on the factors taken into account
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