Social Responsibility and Ethics of Marketing and Corporate Communications

Tamara Vlastelica Bakić, Vinka Filipović and Milica Kostić-Stanković

Chapter 5 in Innovative Management and Firm Performance, 2014, pp 106-121 from Palgrave Macmillan

Abstract: Abstract In a global business setting, it is expected that companies achieve economic growth and increase competitiveness, but at the same time contribute to the sustainable development of economy, environment, and society (Krstović et al., 2012). In an analysis of academic definitions, the first comprehensive approach to defining the term of corporate social responsibility (CSR) is Jones (1980) who stands out by suggesting that CSR implies that companies have an obligation towards all interest groups within a society, not only towards their shareholders, and that this obligation goes beyond what is prescribed by law or a union contract. A more modern definition offered by Marsden (2001) states that CSR refers to the essential behavior of a company as well as taking responsibility for its overall impact on the society in which it operates. Corporate social responsibility is not an optional “add-on” to business operations, nor is it a single act of philanthropy (a donation). A socially responsible company is one that leads a profitable business, taking into account the overall positive or negative effect that it has on society, the economy, and the natural environment. McWilliams and Siegel (2001) define CSR as actions that reflect positively onto society that are above the company’s interests and that are required by law. Likewise, widely cited is the definition offered by Pinney (2001) that CSR, or corporate citizenship, can be simply defined as a set of management techniques that allow a company to minimize the negative and maximize the positive impacts of its operations on society.

Keywords: Corporate Social Responsibility; Social Responsibility; Unethical Behavior; Public Relation; Corporate Reputation (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-40222-6_5

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DOI: 10.1057/9781137402226_5

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