Literature Review of CSR.

Presented by:-

Corporate social responsibility is not a new concept. However, what is new is the shift in focus from making profits to meeting societal challenges.
Giving a universal definition of corporate social responsibility is bit difficult as there is no common definition as such. However, there are few common threads that connect all the perspectives of CSR with each other; the dedication to serve the society being most important of them. Most ideal definition of corporate social responsibility (CSR) has been given by world business council for Sustained Development which says,
“Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large”
.Thus, the meaning of CSR is twofold. On one hand, it exhibits the ethical behavior that an organization exhibits towards its internal and external stakeholders (customers as well as employees). On the other hand, it denotes the responsibility of an organization towards the environment and society in which it operates.

CSR is also referred to as:
• ‘corporate’ or ‘business responsibility’
• ‘corporate’ or ‘business citizenship’
• ‘community relations’
• ‘social responsibility’.
History of CSR
“The phrase Corporate Social Responsibility was coined in 1953 with the publication of Bowen's Social Responsibility of Businessmen” (Corporate watch report, 2006). The evolution of CSR is as old as trade and business for any of corporation. Industrialization and impact of business on the society led to completely new vision. By 80’s and 90’s academic CSR was taken into discussion. The first company to implement CSR was Shell in 1998. With well informed and educated