Essay The Current State of Corporate Social Responsibility

CHAPTER 1 THE CURRENT STATE OF CORPORATE SOCIAL RESPONSIBILITY The following chapter will provide an introduction into the current state of Corporate Social Responsibility (CSR) in the present international environment. This will entail a mention of globalization and its effects on both legislatures and multinational corporations. A discussion of the different definitions and theories will follow. This will lead to a discussion of the nature of CSR definitions and the heterogeneity of these definitions. The main definitional focus will be Archie Carroll’s pyramid description and the definition provided by Crane, Matten and Spence (2008) where they provide the core characteristics of CSR policies. Carroll’s pyramid description provides a†¦show more content†¦The elements of CSR particularly the voluntary aspect and why it is an important part of CSR. The chapter will further provide the reader a chance to understand better the CSR environment, this will allow better understanding as to why the new Indian act is a novelty. This discussion will tie into the thesis question by setting the base that is necessary in order to answer the thesis question effectively. I. WHAT IS CSR? The world today is interconnected and characterized by borderless states where information, technology, trade, capital and individuals move about with ease. Actions in one continent affect the lives of people in a separate continent. Particularly in the case of legislatures, decisions that used to be influenced solely by domestic factors, have now had to evolve and take into consideration the international market and its effects. For example, laws implemented by a state may drive business away from their market to those with more favourable policies abroad. In this sense states aim to deregulate their markets and provide a more inviting atmosphere for parties to do business in. The effects of globalization are not solely felt by legislatures, international actors themselves feel the pressure that comes with having a world where actions in one state are not hidden from the home state. Particularly in the case of multinational companies, they are under more scrutiny to conduct businessShow MoreRelatedCase Study : Open Payday Loan Offices1299 Words   |  6 PagesINTRODUCTION The purpose of this memo is to inform the management of the benefits of allowing the Corporate Responsibility Committee to play a role in the decision to open payday loan offices. This report is based on the involvement of Corporate Responsibility Committees in other organizations and their benefits to those organizations. CRCs are responsible for listening to the concerns that society has about their business. 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