EXCELCENTRE LEARNING INSTITUTE 0846244729
PU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELCENTRE LEARNING INSTITUTE 0846244729
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELCENTRE
should not be rendered accountable since the contents in this document only give
learners a kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENT
Education is the most powerful weapon which you can use to change the world
,EXCELCENTRE LEARNING INSTITUTE 0846244729
Question 1
1.1 Trace the development of CSR as a concept
Corporate Social Responsibility (CSR) has witnessed significant change over the past
hundred years with changes in business thought and societal expectations. The essay
is a try to identify the development of CSR as a concept through its emergence,
formalization, institutionalization, and modern practice. The essay will provide an
overall view based on recent literature to outline the dynamic phenomenon of CSR in
modern business practice.
Introduction to Corporate Social Responsibility (CSR)
CSR is the ethical duty of businesses to assist society and the environment, while at
the same time being economically prosperous (Carroll, 2021). CSR entails practices
that go beyond mere profit-driven actions to include social well-being, environmental
stewardship, and ethical leadership (Lee and Kim, 2022). Over the decades, CSR has
matured from philanthropic donations to being more businesslike and comprehensive
in its nature, resolving business aspirations and social expectations (Wang et al.,
2023).
The evolution of CSR as a concept can be traced through theoretical development
and practical practice. Managerially and academically, the high positioning of CSR has
shifted it from being seen as an ideology to practical reality. There is now an argument
that organisations must define their role in society and embed ethical standards into
business (Smith, 2023). While, some companies still struggle with the adoption of
CSR, motivated by the complexity of the concept and varying interpretations (Jones
et al., 2022). Early Philanthropy and CSR Beginnings (Pre-1950s)
The beginnings of CSR date back to the late 19th and early 20th centuries, where
businesses engaged in philanthropy as a sense of responsibility. Industrialists like
Andrew Carnegie supported the "Gospel of Wealth," in which the rich should utilize
their wealth for social good (Baden, 2021). This early CSR focused on community
philanthropy, workers' welfare, and charitable contributions, reflecting a paternalistic
type of business model (Smith, 2023). There were no established systems or
Education is the most powerful weapon which you can use to change the world
, EXCELCENTRE LEARNING INSTITUTE 0846244729
legislations then, and the majority of corporate social programs were in the form of
voluntarism and more or less ad hoc initiatives (Jones et al., 2022). Practically, the
evolution of CSR was also motivated by stiff business competition, which, in turn,
resulted in the overuse of natural resources and disregard for the protection of the
environment (Wang et al., 2023). As time passed, businesses recognized that they
must contribute to society, and thus the concept of CSR was born as a reaction to
heightened awareness of the social contributions of businesses (Lee and Kim, 2022).
Formalization of CSR as a Concept (1950s-1970s)
CSR was formalized as a concept in the mid-20th century, with much input from
Howard Bowen, referred to as the "Father of CSR." In his groundbreaking book, Social
Responsibilities of the Businessman (1953), Bowen contended that business firms
have an obligation to seek out policies and activities that are consonant with the values
and welfare of society (Carroll, 2021). This stage also saw the development of the
"social contract" theory under which emphasis was laid on the fact that companies
have an obligation to society, not merely to shareholders (Lee and Kim, 2022).
The development of CSR has also been influenced by several theories, e.g., agency
theory, institutional theory, stewardship theory, and theory of the firm (Jones et al.,
2022). These theoretical perspectives have assisted in formulating diverse
conceptualizations of CSR that in numerous instances have resulted in it being hard
for practitioners to totally value the construct (Smith, 2023). Agency theory and
stewardship theory have shaped CSR's focus on balancing shareholder interests with
society's interests, whereas institutional theory highlights the role of norms and
regulations in shaping corporate behavior (Wang et al., 2023). By the 1970s, the
concept of the Triple Bottom Line (TBL) broadened CSR to the economic, social, and
environmental fronts, exhibiting a more comprehensive corporate responsibility (Wang
et al., 2023).
Institutionalization and Strategic CSR (1980s-1990s)
In the 1980s and 1990s, CSR became more institutionalized and integrated into
business strategy. Companies began looking at CSR as a means of attaining
competitive advantage, building reputation, and improving stakeholder relations
Education is the most powerful weapon which you can use to change the world
PU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELCENTRE LEARNING INSTITUTE 0846244729
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELCENTRE
should not be rendered accountable since the contents in this document only give
learners a kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENT
Education is the most powerful weapon which you can use to change the world
,EXCELCENTRE LEARNING INSTITUTE 0846244729
Question 1
1.1 Trace the development of CSR as a concept
Corporate Social Responsibility (CSR) has witnessed significant change over the past
hundred years with changes in business thought and societal expectations. The essay
is a try to identify the development of CSR as a concept through its emergence,
formalization, institutionalization, and modern practice. The essay will provide an
overall view based on recent literature to outline the dynamic phenomenon of CSR in
modern business practice.
Introduction to Corporate Social Responsibility (CSR)
CSR is the ethical duty of businesses to assist society and the environment, while at
the same time being economically prosperous (Carroll, 2021). CSR entails practices
that go beyond mere profit-driven actions to include social well-being, environmental
stewardship, and ethical leadership (Lee and Kim, 2022). Over the decades, CSR has
matured from philanthropic donations to being more businesslike and comprehensive
in its nature, resolving business aspirations and social expectations (Wang et al.,
2023).
The evolution of CSR as a concept can be traced through theoretical development
and practical practice. Managerially and academically, the high positioning of CSR has
shifted it from being seen as an ideology to practical reality. There is now an argument
that organisations must define their role in society and embed ethical standards into
business (Smith, 2023). While, some companies still struggle with the adoption of
CSR, motivated by the complexity of the concept and varying interpretations (Jones
et al., 2022). Early Philanthropy and CSR Beginnings (Pre-1950s)
The beginnings of CSR date back to the late 19th and early 20th centuries, where
businesses engaged in philanthropy as a sense of responsibility. Industrialists like
Andrew Carnegie supported the "Gospel of Wealth," in which the rich should utilize
their wealth for social good (Baden, 2021). This early CSR focused on community
philanthropy, workers' welfare, and charitable contributions, reflecting a paternalistic
type of business model (Smith, 2023). There were no established systems or
Education is the most powerful weapon which you can use to change the world
, EXCELCENTRE LEARNING INSTITUTE 0846244729
legislations then, and the majority of corporate social programs were in the form of
voluntarism and more or less ad hoc initiatives (Jones et al., 2022). Practically, the
evolution of CSR was also motivated by stiff business competition, which, in turn,
resulted in the overuse of natural resources and disregard for the protection of the
environment (Wang et al., 2023). As time passed, businesses recognized that they
must contribute to society, and thus the concept of CSR was born as a reaction to
heightened awareness of the social contributions of businesses (Lee and Kim, 2022).
Formalization of CSR as a Concept (1950s-1970s)
CSR was formalized as a concept in the mid-20th century, with much input from
Howard Bowen, referred to as the "Father of CSR." In his groundbreaking book, Social
Responsibilities of the Businessman (1953), Bowen contended that business firms
have an obligation to seek out policies and activities that are consonant with the values
and welfare of society (Carroll, 2021). This stage also saw the development of the
"social contract" theory under which emphasis was laid on the fact that companies
have an obligation to society, not merely to shareholders (Lee and Kim, 2022).
The development of CSR has also been influenced by several theories, e.g., agency
theory, institutional theory, stewardship theory, and theory of the firm (Jones et al.,
2022). These theoretical perspectives have assisted in formulating diverse
conceptualizations of CSR that in numerous instances have resulted in it being hard
for practitioners to totally value the construct (Smith, 2023). Agency theory and
stewardship theory have shaped CSR's focus on balancing shareholder interests with
society's interests, whereas institutional theory highlights the role of norms and
regulations in shaping corporate behavior (Wang et al., 2023). By the 1970s, the
concept of the Triple Bottom Line (TBL) broadened CSR to the economic, social, and
environmental fronts, exhibiting a more comprehensive corporate responsibility (Wang
et al., 2023).
Institutionalization and Strategic CSR (1980s-1990s)
In the 1980s and 1990s, CSR became more institutionalized and integrated into
business strategy. Companies began looking at CSR as a means of attaining
competitive advantage, building reputation, and improving stakeholder relations
Education is the most powerful weapon which you can use to change the world
