In the 1980s, Corporate Social Responsibility (CSR) was largely unpopular. Business as usual was the order of the day. In 1987, a Corporate Responsibility grouped formed a forum of corporate professionals, working in community development. By the 1990s, conferences were organized and CSR was rewarded. Fast forward to the 21st century (from 2001 – 2010), a Global Compact Network was launched in China and by 2002 the UN Commission adopted the new strategy on CSR, aimed at enhancing the contributions of business to sustainable development.
The concept of Corporate Social Responsibility has a wide range of meanings. It is a response to present and anticipated climate change challenges somewhere and accounting for sustainability elsewhere. It is about corporate governance and also about responsible investment. The list goes on and on. Generally, CSR can be seen as a call for organizations to simply ‘do good and cause no harm’.
The concept of CSR also delves into the issue of Sustainable Capitalism. Sustainable capitalism is about seeking economic gains in a sustainable way. Therefore, organizations are expected to apply the rule of ‘do good and cause no harm’ as they seek to make profit.
Nevertheless, there have been arguments against CSR on different grounds but these can easily be dispelled with the acquisition of more knowledge on the subject of CSR.
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