This is the third post in a three-part series featuring our blog competition winners from Michigan State University. The author of today's post is Pujitha Kasipuram.
What is CSR
Corporate social responsibility is not a new term, as it originated back in the 1930’s where a firm tends to focus on mainly profits and private interests. According to Norine Kenney who is a part the U.S Council on International Business, “there is no solid definition of CSR; however, it is not a replacement for the governmental role and responsibility in meeting challenges of sustainable development.” This states that there is not one definition of CSR nor it substitutes the responsibility of a government. In fact, corporate social responsibility can be evaluated in many directions such as providing good working conditions to employees or how it can relate to globalization in three ways: environmental, economic, and social. With globalization and CSR, it is believed that there should be equal access to all three resources, but is this necessarily true? Since the government is not fully responsible to enforce for such issues, how can corporations be held accountable that are engaging in ethical practices? Corporate Social Responsibility varies by region, by country, and by group. It is a broad topic to discuss, but increasingly becoming important for consumers.