Practice Influencing Theory: A Review of The Definition, Practice, & Arguments For CSR

Abstract

This paper takes a closer look Corporate Social Responsibility (CSR), focusing on firms are practicing it as well as the theoretical arguments for it. It begins by exploring the diversity that exists in the understanding of CSR - ranging from the view that it should be limited to the voluntary activities of firms to those views that embrace social activity. The aim here is to clarify the concept of CSR and to better appreciate the CSR activities of firms. Subsequently, the paper proposes eight major arguments for CSR, which include four traditional arguments and four newer ones. Judging from what firms are undertaking as CSR, the paper concludes that many corporations have taken a rather brought view of CSR and that is why the arguments for CSR must go beyond the traditional arguments. It would, therefore, only be CSR activities of firms are actually influencing the development or evolution of CSR theory.