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Corporate Social Responsibility: Can Companies Make a Difference?

In: Soulful Corporations

Author

Listed:
  • Shashank Shah

    (Sri Sathya Sai Institute of Higher Learning Prasanthi Nilayam)

  • V. E. Ramamoorthy

    (Sri Sathya Sai Institute of Higher Learning Prasanthi Nilayam)

Abstract

Corporate Social Responsibility (CSR) is variously known as Society and Business, Social Issues Management, Public Policy and Business, Stakeholder Management, Corporate Accountability, Corporate Citizenship, Corporate Sustainability and so on. It defies exact definition since there are widely varying beliefs and perceptions on what corporate enterprises owe to the society and stakeholders. Votaw (1972) observed: Corporate Social Responsibility means something but not always the same thing to everybody. To some it conveys the idea of legal responsibility or liability; to others it means socially responsible behaviour in the ethical sense; to still others the meaning transmitted is that of ‘responsible for’ in a causal mode; many simply equate it with a charitable contribution; some take it to mean socially conscious; many of those who embrace it more formally see it as a mere synonym for legitimacy in the context of belonging or being proper or valid; a few see a sort of fiduciary duty imposing higher standards of behaviour on businessmen than on citizens at large.

Suggested Citation

  • Shashank Shah & V. E. Ramamoorthy, 2014. "Corporate Social Responsibility: Can Companies Make a Difference?," India Studies in Business and Economics, in: Soulful Corporations, edition 127, chapter 0, pages 155-197, Springer.
    • Handle: RePEc:spr:isbchp:978-81-322-1275-1_6
    DOI: 10.1007/978-81-322-1275-1_6
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