Corporate Social Responsibility can be defined has an obligation beyond that required law and economics , for a firm to purse long term goals that are good for the society. This entails the continuing commitment by business to behave ethically and contribute to economic development while improving quality of the workforce and their families as well as that of the local community and society at large. Bhatia (2004) defined corporate social responsibility as a tool that encompass good business ethics and encourage enterprises to be involved in social issues such as community improvement, improving underdeveloped working conditions and so on that are outside walls of the enterprise. Aleix Ferrer Duch (2009) views Corporate Social Responsibility (CSR) as a continuous commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of society at large. It is about enterprises deciding to go beyond minimum legal requirements and obligations stemming from collective agreements in order to address societal needs. Corporate Social Responsibility (CSR) does not have one particular definition as evidenced in the above definitions by different authors. Some define it as operating in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business; whereas other define it as doing business in an ethical way that respects people, society and the environment”(NEPALI 2008). What Corporate Social Responsibility Mean
(Jeremy Moon 2004)views Corporate Social Responsibility as when business is conducted in an ethical way and in the interest of the wider community through responding positively to emerging societal priorities and expectations, this all should be done while they is a willingness of an entity to act ahead of regulatory confrontation,. balancing shareholder interests against the interests of the wider community and being a good citizen in the community Four Dimensions of Corporate Social Responsibility
•Economic view this view in Summary takes solely that C.S.R responsibility is to earn profit for owners. The responsibility is said to be primary because without financial viability the other responsibility will not be there. Some issues of concern here are economic development, technological progress, profit generation, employment wages and benefits pollution and maintaining competition •Legal dimension takes into consideration that C.S.R ought to comply with the law(society’s codification of right and •Legal dimension takes into consideration that C.R.S ought to comply with the law (society’s codification of right and wrong) •Ethical dimension takes into consideration that an firm is not there just for profit but doing what is right, just and fair . •Voluntary and philanthropic dimension takes into account the promotion of human welfare and goodwill Evaluating Corporate Responsibility as an Ethical tool
Ferrelloc and Fraedrich in their book business ethics view ethics as comprising principles and standards that guide behavior in the world of business , it can also be defined as right or wrong acceptable or unacceptable behave in an organization. From this definition of Ethics they is an overlap between Corporate Social Responsibility and ethics both concepts concern values, objectives and decision based on something than the pursuit of profits. The difference is that ethics concern individual actions which can be assessed as right or wrong by reference to moral principles but C.R.S is about the organization’s obligations to all stakeholders and not just shareholders. However from the different views stated above social responsible firms must act ethically. To evaluate well if Corporate Social Responsibility is an ethical tool consideration of the different dimension of C. R. S are to be made with the different cases given since the dimensions has different views...