corporate social responsibilities
Corporate social responsibility (CSR) is an increasingly important issue for all businesses around the world. CSR covers economic, legal, ethical, and philanthropic responsibilities of firms. Explain the factors that may motivate an MNE to adopt CSR in its international business strategy and operations. How might the country context influence the types of CSR initiatives undertaken? Support your answer with real world examples or cases.
Introduction
In the beginning of the 1980s state and market relations have characterized era of globalization and economic liberalization. Considering this scenario, civil societies, organization and multi- stakeholder initiatives and public private partnerships took part into an arrangement shortly corporate social responsibility (CSR). Defining Corporate Social Responsibility is depending on various factors- cultures, stakeholders, activities of the company and others. Some of the CSR initiatives respond relations with employee and employers to protect environment and its operations. Since sourcing and production are taking places globally therefore these issues are indispensable for companies collaborating within supply chain management globally1. The common meaning of the CSR can be stated – some voluntary initiatives to respond broad range of public concern but not only social issue. The concepts of CSR began in 1920s but it failed to become a serious topic of business sector until 1950s. It came into spotlight when Frank Abrams, Chairman of the board for Standard Oil of New Jersey published article in Harvard business review and that was business obligation. “ to conduct the affairs of the enterprise to maintain an equitable and workable balance among the claims of the various directly interested groups, a harmonious balance among stakeholders, employees, customers and public at large (Fredrick 2006)2.” Corporate Social responsibility can be defined as a business coordination that permits the production and
Introduction
In the beginning of the 1980s state and market relations have characterized era of globalization and economic liberalization. Considering this scenario, civil societies, organization and multi- stakeholder initiatives and public private partnerships took part into an arrangement shortly corporate social responsibility (CSR). Defining Corporate Social Responsibility is depending on various factors- cultures, stakeholders, activities of the company and others. Some of the CSR initiatives respond relations with employee and employers to protect environment and its operations. Since sourcing and production are taking places globally therefore these issues are indispensable for companies collaborating within supply chain management globally1. The common meaning of the CSR can be stated – some voluntary initiatives to respond broad range of public concern but not only social issue. The concepts of CSR began in 1920s but it failed to become a serious topic of business sector until 1950s. It came into spotlight when Frank Abrams, Chairman of the board for Standard Oil of New Jersey published article in Harvard business review and that was business obligation. “ to conduct the affairs of the enterprise to maintain an equitable and workable balance among the claims of the various directly interested groups, a harmonious balance among stakeholders, employees, customers and public at large (Fredrick 2006)2.” Corporate Social responsibility can be defined as a business coordination that permits the production and
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