Corporate Social Responsibility ( Csr ) - 1549 Words

Along with the fruits of globalization also come the flies. The flow of money, products, and people have increased immensely across the globe in the last century, but as economic crises hit central areas of the globe, the flows also carry that along to other parts of the world. Through these continued global economic crises and recessions, a stronger demand for responsible capitalism has also emerged. Moreover, societies are urging not only governments to take responsibility for the problems but also the corporations. One outcome of this is corporate social responsibility (CSR). CSR refers to voluntary actions of companies or corporations to contribute to the welfare of society and the health of the environment. Some ways it can be†¦show more content†¦They include the lack of government involvement as a result of declining resources and a public distrust in regulations, the demands for greater disclosure from stakeholders, increased customer interests in ethical conduct, gr owing pressures from investors with regards to ethical concerns, and competitive labor markets where potential employees are looking for more than just a paycheck from their employer. Globalization has created a system of connections that can potentially distribute influence through the flow of money and goods. Corporate social responsibility spans across the globe, but different countries see and participate in CSR in different ways. Amerinda Forte, author of â€Å"Corporate Social Responsibility in the United States and Europe: How Important Is It? The Future of Corporate Social Responsibility,† an article published in 2013 in the International Business and Economics Research Journal, explains CSR using three traditional models: the shareholder value model where profits are the sole responsibilities of the business, the stakeholder model where the social responsibilities of the business reflect those of the stakeholders, and the business ethics model where businesses have social obligations and a moral duty to society as a business. The author