Perspectives: corporate community engagement and empowerment
RIS ID
91876
Link to publisher version (URL)
Abstract
The philosophy of Corporate Social Responsibility (CSR) has evolved since the 1950s' stakeholder perspective' leading to the more modern-day concept of sustainability, which emerged in the 1970s.2 Literature identifies a number of reasons why private firms engage in CSR practices. These are (a) bolster the organization's public image, (b) meet needs or pressures from key external stakeholders, (c) be aligned with industry or community expectations, (d) protect itself from legal threats, (e) provide a source of motivation for employees, and (e) achieve a marketing advantage or other direct economic impacts.3 Broadly, this can be classified from the economic dimension (companies need to be profitable); legal dimensions (work within legal framework); ethical dimension (ethical, moral, or values the organization adheres to) which merges with discretional dimensions (companies' voluntary actions that benefit society).
Publication Details
Balakrishnan, M. Stephens. 2013, 'Perspectives: corporate community engagement and empowerment', in M. Stephens. Balakrishnan, I. Michael & I. Moonesar (eds), Actions and Insights - Middle East North Africa: East Meets West, Emerald Group Publishing Limited, United Kingdom. pp. 3-13.