Corporate Social Responsibility
The broadest definition of corporate social responsibility (CSR) is the relationship between global corporations, governments of countries, and individual citizens. More locally the definition is concerned with the relationship between a corporation and the local society where it resides or operates. Another definition is concerned with the relationship between the corporation and its stakeholders
The elements or dimensions of social responsibility are defined as economic, legal, ethical, and discretionary .
Because of the uncertainty surrounding the nature of CSR activity it is difficult to define CSR and to be certain about any such activity. It is therefore imperative to be able to identify such activity and it should be taken in view that there are three basic principles which together comprise all CSR activity. These are: sustainability, accountability, transparency. Sustainability is concerned with the effect which action taken in the present has upon the options available in the future. Accountability is concerned with an organization recognizing that its actions affect the external environment, and therefore assuming the responsibility for the effects of its actions. Transparency, as a principle, means that the external impact of the actions of the organization can be ascertained from that organization’s reporting and pertinent facts are not disguised within that reporting .
⠀ Crowther, D., Aras, G. (2008). Corporate Social Responsibility. Copenhagen: Ventus Publishing. 144 p. (P. 10)
⠀ Clarkson, M. B. E. (1995). A Stakeholder Framework For Analyzing And Evaluating Corporate Social Performance. Academy of Management Review, Vol. 20, # 1, P. 92-117 (P. 95)