SOCIAL RESPONSIBILITY AND CORPORATE CITIZENSHIP IN THE 21th CENTURY

Sorin George Toma ()
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Sorin George Toma: Bucharest University

The AMFITEATRU ECONOMIC journal, 2008, vol. 10, issue 23, 80-85

Abstract: The emergence and evolution of globalization have produced major changes not only in the economy, but also in society and environment. In the 21st century, today’ s companies are increasingly operating at a global scale. They have to act locally and think globally. Today’ s companies are facing higher expectations from society and stakeholders. This is why, they must assume multiple responsibilities both locally and globally. Besides their economic responsibility, social and environmental responsibility has become a key element of their business success. The best-run companies are aware of the importance of the three main dimensions of sustainability in the 21st century: social sustainability, environmental sustainability and economic sustainability. In this respect incorporating social responsibility into the corporate strategies and policies represents a major concern for all kinds of companies. Derived from corporate social responsibility, the concept of corporate citizenship has become a main issue in the business literature. Corporate citizenship is about companies taking into account the impacts of their products and/or services and activities on the society and the environment. More and more people, groups and NGO are calling on businesses to be good citizens. A responsible corporate citizenship imposes an ethical behavior upon companies and represents a main factor in obtaining business success.

Keywords: social responsibility; corporate citizenship; business ethics; company; sustainability; globalization (search for similar items in EconPapers)
JEL-codes: M14 (search for similar items in EconPapers)
Date: 2008
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