Corporate Social Responsibility By Howard R. Bowen

Corporate Social Responsibility Introduction: Corporate Social Responsibility refers to the responsibilities that a company has towards society. CSR can be described as decision making by a business that is linked to the ethical values and respect for individuals, society and the environment, as well as compliance with legal requirement. â€Å"The book â€Å"Social Responsibilities of the Businessman† by Howard R. Bowen started the discussion of CSR. Bowen defined CSR as â€Å"the obligations of businessmen to pursue those policies, to make those decisions, or to follow those lines of action which are desirable in terms of objectives and values of our society.†[1] After initial definition a number of definition appeared from different authors when†¦show more content†¦[5] Oxfam and South African groups have called for global action against Pfizer on the grounds of its pricing policies. Fresh from their positive welcome for recent actions by GlaxoSmithKline, Oxfam accused Pfizer of moral bankruptcy for pricing drugs out of the reach of millions of poor people.[6] In 1995 Shell suffered two blows to its reputation: one from its attempted disposal of the Brent Spar oil rig in the North See, and the other over the company s failure to oppose the Nigerian government s execution of a human rights activist in a part of Nigeria where the company had extensive operations. Since then Shell has rewritten its business principles, created an elaborate mechanism to implement them, and worked harder to improve its relations with NGOs. Shell s efforts had no clear legal or financial pressure behind them.[7] Fear of embarrassment at the hands of NGOs and the media has given business ethics bigger push. Companies have learned that hard way that they live in a CNN world, in which bad behavior in one country can be seized on by local campaigners and beamed on the evening news to consumer at home. As NGOs vie with each other for publicity and membership, big companies are especially vulnerable to hostile campaigns.[8] â€Å"Several other regulations achieved that companies had to report their emissions and other issues following the EU Integrated PollutionShow MoreRelatedCorporate Social Responsibility ( Csr )1370 Words   |  6 Pagesmore attention on the concept of Corporate Social Responsibility (CSR). The core issue is the appropriate responsibility of business. In as much as firms ought to obey the law, but beyond complete compliance with environmental laws, the question is whether firms have extra social responsibilities to commit part of their resources to environmental preservation voluntarily. 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