Outline and discuss the evolution of CSR, including its history, role Essay - 1

Outline and discuss the evolution of CSR, including its history, role in the monetary crisis and prospects for the future. Supp - Essay ExampleThe topic of social responsibility is a highly debated one, as several theorists think that business is obligated only to pee profits.2 On the other hand, mevery believe that all business entities have a social obligation it is bound to fulfill. However, there is no denial of the concomitant that while operating to make profits, a business organization has to ensure that they keep the interest of the society and environment in mind because basically the revenues they make have to primarily derive from the same society and environment. Definition Corporate Social obligation can be defined as the relationship between global corporations, governments of countries and individuals citizens.3 CSR is also encompasses the relationship between corporations and their stakeholders. The EU Commission further defines CSR as a concept where companies in tegrate social and environmental concerns in their business operations4 as well as during their interactions with stakeholders on a voluntary basis.5 Thus, in simple terms it is the responsibility incarnate organizations have towards the society they work and operate in. Furthermore, this responsibility is not limited to the present generation in a particular society, but also extends to feeler generations, that is the future members of the society.6 CSR is greatly related with corporate citizenship, business responsibility, business reputation, ethical corporation, sustainable business7 etc but is different from them. The CSR approach believes that stakeholders such as consumers, employees, the community at large, government, and the natural environment8 are supposed to be given a stronger taper. Social responsibility of the firms basically stems from the detail that they are using the natural resources available in the area where they function. Thus, they are bound to give so mething back to the society. In the present day, the wellbeing of society has receive increasingly important, and community is given the main priority in all spheres. In such a community centered world system, the question of who is answerable to safeguard the interests of the people cannot simply be answered by government. While government has a key role, the growing private sector companies including corporate entities need to focus not only on making profits, but also consider the impact of their operations within the society. History and Evolution of Corporate Social Responsibility The basic idea of CSR has its roots in the era before the birth of Jesus Christ and is first seen when in 1700 BC9 the ancient Mesopotamian prescript brought into practice a code that imposes punishment on builders, innkeepers or farmers10 by death if as a result of their negligence11 any inconvenience is caused to local citizens. The people engaged in any trade related activities have to abide by this code, not merely because they feared legal consequences12 but because of their strong sense of moral conviction.13 On the other hand, ancient Roman senators were upset with the fact that businesses were unable to provide adequate taxes in order to fund military campaigns,14 therefore unsuccessful to contribute to the war programme.