The Changing Nature of Corporate Social Responsibility

Pillay, Renginee G.

doi:10.4324/9780203498927

Cited by 16 publications

(9 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…By contrast, during the 1980's the Reagan and Thatcher administrations brought a new line of thought into politics with a strong focus on reducing the pressure on corporations and aiming to reduce the high levels of inflation that the USA and the United Kingdom (UK) were facing (see : Feldstein 2013;Wankel 2008). For Reagan and Thatcher, the growth and strength of the economies of their countries depended on their ability to maintain a free market environment with as little as possible state intervention (Pillay 2015). To do so, Reagan's main economic goals focused on reducing the regulations on the private sector complemented with tax reductions (Feldstein 2013).…”

Section: The 1970's: Csr and Managementmentioning

confidence: 99%

A literature review of the history and evolution of corporate social responsibility

Latapí

Jóhannsdóttir

Davíðsdóttir

2019

Int J Corporate Soc Responsibility

487

188

View full text Add to dashboard Cite

There is a long and varied history associated with the evolution of the concept of Corporate Social Responsibility (CSR). However, a historical review is missing in the academic literature that portrays the evolution of the academic understanding of the concept alongside with the public and international events that influenced the social expectations with regards to corporate behavior. The aim of this paper is to provide a distinctive historical perspective on the evolution of CSR as a conceptual paradigm by reviewing the most relevant factors that have shaped its understanding and definition, such as academic contributions, international policies and significant social and political events. To do so, the method used is a comprehensive literature review that explores the most relevant academic contributions and public events that have influenced the evolutionary process of CSR and how they have done so. The findings show that the understanding of corporate responsibility has evolved from being limited to the generation of profit to include a broader set of responsibilities to the latest belief that the main responsibility of companies should be the generation of shared value. The findings also indicate that as social expectations of corporate behavior changed, so did the concept of Corporate Social Responsibility. The findings suggest that CSR continues to be relevant within the academic literature and can be expected to remain part of the business vocabulary at least in the short term and as a result, the authors present a plausible future for CSR that takes into consideration its historical evolution. Finally, this paper gives way for future academic research to explore how CSR can help address the latest social expectations of generating shared value as a main business objective, which in turn may have practical implications if CSR is implemented with this in mind.

show abstract

Section: The 1970's: Csr and Managementmentioning

confidence: 99%

A literature review of the history and evolution of corporate social responsibility

Latapí

Jóhannsdóttir

Davíðsdóttir

2019

Int J Corporate Soc Responsibility

487

188

View full text Add to dashboard Cite

show abstract

“…As a result, effective CSR will stipulate the duties and responsibilities of the corporations, as well as the rights and obligations of corporate stakeholders, including its employees, host-communities, the environment and the state that is expected to regulate their activities (Idemudia, 2009). Pillay (2015, p. 118) writes that “corporations should recognize environmental management as among the highest corporate priorities and as a key determinant of sustainable development”. In this sense, “CSR has been promoted as a key mechanism for tempering corporate power and shaping corporate behavior in ways that will contribute to sustainable development” Pillay (2015).…”

Section: “Transformative” Csr and Neoliberal Ideologymentioning

confidence: 99%

“…Pillay (2015, p. 118) writes that “corporations should recognize environmental management as among the highest corporate priorities and as a key determinant of sustainable development”. In this sense, “CSR has been promoted as a key mechanism for tempering corporate power and shaping corporate behavior in ways that will contribute to sustainable development” Pillay (2015).…”

Section: “Transformative” Csr and Neoliberal Ideologymentioning

confidence: 99%

Neoliberal shareholder value and the re-privatization of corporations

Nwoke

Ajibo

Umahi

2018

IJLMA

View full text Add to dashboard Cite

Purpose This paper aims to investigate the extent to which the ideology of shareholder value is compatible with that of transformative corporate social responsibility (CSR). It traces the transformation of corporations from quasi-public institutions at inception to purely private enterprises beginning from the middle of the nineteenth century and attempts to locate the ideology of CSR within the wider viewpoint of shareholder value. Design/methodology/approach This paper adopts a doctrinal approach through a critical evaluation of the nature and implications of the shareholder value ideology. Using existing literature in the area, it traces the evolution of the shareholder value ideology and how it is antithetical to any meaningful CSR regime. Findings The paper finds that there is a fundamental tension between ideas about the desirability of effective CSR and the belief that it is to the benefit of society as a whole for corporations to be run solely in the interest of their shareholders and for managers to seek to maximize shareholder value. This ideological tension renders contemporary CSR ineffective. Originality/value The paper offers a fresh insight or analysis into the transformation of corporations from quasi-social institutions to purely private enterprises in the middle of the nineteenth century. It does this by engaging in a historical narrative of the evolution of the corporate form and how contemporary ideas of shareholder value have resulted in the emergence of a contemporary CSR devoid of the radical spirit of CSR in the 1950s and 1960s.

show abstract

“…A good definition of sustainable development is that of the Brundtland Report, produced by the World Commission on Environment and Development (WCED; initiated by the General Assembly of the United Nations in 1982) which defines the concept as the development that “meets the needs of the present without compromising the ability of future generations to meet their own needs” (WCED, 1987, p. 11; see also Pillay, 2015, p. 117). It is the development which: […] not only generates economic growth, but distributes its benefits equitably; regenerates the environment instead of destroying it; empowers people rather than marginalizing them; gives priority to the poor, enlarging their choices and opportunities and provides for their participation in decisions affecting them (Pillay, 2015). …”

Section: Csr Neoliberalism and Sustainable Developmentmentioning

confidence: 99%

“…[…] not only generates economic growth, but distributes its benefits equitably; regenerates the environment instead of destroying it; empowers people rather than marginalizing them; gives priority to the poor, enlarging their choices and opportunities and provides for their participation in decisions affecting them (Pillay, 2015).…”

Section: Csr Neoliberalism and Sustainable Developmentmentioning

confidence: 99%

Corporations and development

Nwoke

2017

IJLMA

View full text Add to dashboard Cite

Purpose This paper aims to examine the nature and role of contemporary CSR in the current neoliberal age. It offers an insight into the tension that exists between the ideologies of “neoliberal” shareholder value and that of “effective” CSR, and argues that both ideologies are fundamentally antithetical. It aims to identify and analyse the inter-connected but distinguishable barriers (ideological, practical and political) that militate against the realization of effective CSR. Design/methodology/approach The method applied is a critical evaluation of concepts and a thorough review of existing literature on neoliberalism, shareholder value and contemporary CSR. It uses existing literature to highlight the inability of contemporary CSR to transform into an effective mechanism for development. Findings The paper emphasizes the failure of contemporary CSR to equate to a successful mechanism for development. It concludes that the existence and operations of these barriers militate against the realization of an effective CSR regime capable of leading to development. Practical implications Given the current dominance of the “maximizing shareholder value” model of corporate governance internationally, it appears unreasonable to pin too much hope on contemporary CSR as a mechanism for development, especially in emerging economies. Neither the culture of corporations nor the pressures to which they are currently subjected encourage socially responsible behaviour. Originality/value The paper extends the body of knowledge in the area of contemporary CSR, by identifying and analysing the inter-connected but distinguishable barriers that render the CSR practices of corporations ineffective.

show abstract

The Changing Nature of Corporate Social Responsibility

Cited by 16 publications

References 0 publications

A literature review of the history and evolution of corporate social responsibility

A literature review of the history and evolution of corporate social responsibility

Neoliberal shareholder value and the re-privatization of corporations

Corporations and development

Contact Info

Product

Resources

About