Corporate Social Responsibility is the latest management buzz used by big companies in order to achieve sustainable development.
Corporate Social Responsibility (CSR) Is it just another management fad with a life cycle of few years? Or is it a concept that will stay long enough to become an integral part of business process and psyche? The recent work appearing in journals, magazines and internet is focusing on CSR and its necessity for organizations. But, all the discussions lead to a fundamental question, why is so much attention given to CSR by management `pundits'?
There seems to be a general agreement on the issue of business and corporations acting in a socially responsible manner, but there are several questions that are being raised by practitioners of management, scholars and academicians. They are asking, with whom should CSR accountability lie? What will the standards be for gauging CSR? Who will set these standards? How will conflicts be resolved (Warton & Clifton, 2002)? Who are going to be the stakeholders, i.e., how are they going to be identified? As Hartman (2002) puts it, what will be the nature of responsibility? |
