The evolving path of CSR: toward business and society relationship

Kuldeep Singh and Madhvendra Misra

Journal of Economic and Administrative Sciences, 2021, vol. 38, issue 2, 304-332

Abstract: Purpose - This paper takes a critical look at the meaning of corporate social responsibility (CSR) based on the available literature on the subject matter. As CSR is an evolving concept both in meaning and practice, this study aims to highlight CSR actions of the world's six largest organizations (Google, Twitter, Amazon, Apple, ExxonMobil and Walmart). The purpose of choosing these organizations and their CSR adoption was to examine the business-society relationship and the role of key stakeholders in establishing this association. Design/methodology/approach - This study examined CSR through the case study approach and provides valuable insights by showing that CSR is a connecting link between business and society. Specifically, the authors took a crucial look at various contentious, often ambiguous definitions, theoretical framework, brief historical development, issues and controversies surrounding it, the role of CSR in community development and summing it up with the future direction and managerial implications. Findings - This study observed that there are some developmental strategies taking place today which are relevant to the issue at stake, such as: contributing to the world economy, corporations donating or engaging in a wide range of philanthropic gestures now than ever and contributing to the beauty of the society by meeting rising community expectations. Originality/value - By analyzing the worlds' 6 largest companies' CSR initiatives, this study provides valuable insights by showing that CSR is a connecting link between business and society and is based on win-win collaborations between civil society, business, investors and government. These companies' CSR initiatives have been mostly unexplored in past studies.

Keywords: Corporate social responsibility (CSR); Business-society; Community development (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jeaspp:jeas-04-2020-0052

DOI: 10.1108/JEAS-04-2020-0052

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