Corporate Social Responsibility
Corporate Social Responsibility
An ever-increasing issue in the corporate world is corporate social responsibility. With the increasing number of scandals occurring in the U.S., companies are trying to establish a trust among their stakeholders and customers through corporate social responsibility. In an interview Avie Bennet, publisher, real estate developer and York University?s chancellor has been in business for more than forty years, describes corporate social responsibility as, ?the relationship of a company to its suppliers, its environment, and its customers. It?s all the aspects of doing business beyond worrying about the next quarterly profit.? (Bennet)
In the history of corporate social responsibility, there have been many models developed in an attempt to classify corporate responses to social issues. In the early stages Sethi argued a company?s main goal should be to gain legitimacy in society through different strategic approaches. His model had three ways in which a company responds to social issues. The first is social obligation, in which companies only respond at the legal requirements. This is below the standards of society. The second level is social responsibility which refers to the company acting at society?s standards. The final level is
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